Whereas the land known as the Hutt Park and described in the Schedule is vested in trust as a reserve for recreation purposes under the provisions of the Hutt Park Act 1907 in a Joint Standing Committee appointed from time to time pursuant to section 105 of the Local Government Act 1974 by the councils of the city of Lower Hutt and the boroughs of Eastbourne and Petone:
And whereas for some time those councils have been considering ways to finance necessary capital works and development at the Hutt Park:
And whereas the Hutt Park Committee incorporated under the Hutt Park Act 1907 has no legal power to borrow money:
And whereas the Lower Hutt City Council, the Petone Borough Council, and the Eastbourne Borough Council have agreed that the Hutt Park Committee should be discharged and reconstituted as a committee of the Lower Hutt City Council:
And whereas this reconstitution will enable the necessary loan money to be borrowed for the said capital works and development.