WHEREAS by Crown Grant bearing date the 8th day of October 1861 all that parcel of land in the Province of Otago in the Dominion of New Zealand situate in the Harbour of Otago below high water mark and opposite and adjacent to the Town of Dunedin containing by admeasurement 421 acres 3 roods and 13 perches more or less bounded as in the said Grant is mentioned was granted to the Superintendent and his successors in trust for the improvement of the Harbour of Dunedin and the construction and maintenance of such docks, piers and other works therein as might be deemed advisable by the said Superintendent for facilitating the trade and commerce of the Town and Port of Dunedin: AND WHEREAS by another Crown Grant bearing date the 17th day of October 1862 all those 2 parcels of land in the Province and Dominion aforesaid containing together by admeasurement 29 acres and 17 perches more or less bounded as in the said Grant is mentioned were granted to the said Superintendent and his successors upon trust for the improvement of the Harbour of Dunedin and the construction and maintenance of such docks, piers and other works therein as might be deemed advisable by the said Superintendent for facilitating the trade and commerce of the Town and Port of Dunedin: AND WHEREAS by the Otago Harbour Trust Leasing Ordinance 1862 the Superintendent of the Province of Otago is empowered to grant leases of a portion of the lands described and comprised in the said first mentioned Crown Grant for periods not exceeding 99 years: AND WHEREAS large sums have been expended out of the revenues of the Province of Otago in reclaiming the lands described in the said recited Crown Grants in improving the Harbour of Otago and otherwise in connection therewith: AND for the purpose of reimbursing the Treasurer of the Province of Otago the sums so expended it is expedient that the Superintendent should be empowered to grant leases of the portion of the lands described in the said first mentioned Grant not included in the said recited Ordinance and of the lands described in the said second mentioned Grant for any period or periods not exceeding 99 years: And also to sell the whole or any part or parts of the lands comprised in the said recited Grants.