Whereas the Invercargill Borough Council (hereinafter called the Council) was duly authorized by a poll of ratepayers of the Borough of Invercargill taken on the twentieth day of December, nineteen hundred and nineteen, to raise under the Local Bodies Loans Act 1913, a special loan of ten thousand dollars for the purpose stated as follows in the proposal submitted to the ratepayers—namely,
“as a first instalment towards the erection of permanent buildings for municipal purposes on part Section 19, Block III, Town of Invercargill,” being the land described in subsection four hereof: And whereas it is not now necessary to provide such buildings on the said part Section 19: And whereas suitable arrangements can be made to meet the purpose of the loan by altering, improving, and renovating the existing Municipal Buildings and Theatre, situate on Sections 17, 18, 5, and 6, Block III, Town of Invercargill, at an estimated cost of thirteen thousand dollars: And whereas such sum of ten thousand dollars will be insufficient to complete the altering, improving, and renovating of the said existing Municipal Buildings and Theatre: And whereas it is expedient to give the Council power to raise a further sum of one-tenth of the said loan of ten thousand dollars, and to expend the proceeds of both such loans as hereinafter provided: And whereas the Council is registered as the proprietor of the land, with right of way, described in subsection four hereof: And whereas the said land, with right of way, was acquired for the purpose of municipal buildings: And whereas such land, with right of way, is no longer required for the purpose for which it was acquired: And whereas it is expedient that the Council should be given power to lease the said land, with right of way: Be it therefore enacted as follows:—
(1) Notwithstanding anything contained in the Local Bodies Loans Act 1926, or any other Act, the Council may use, pay, or apply the said sum of ten thousand dollars as it may consider necessary for the purpose of altering, improving, and renovating the said Municipal Buildings and Theatre situate on Sections 17, 18, 5, and 6, Block III, Town of Invercargill.
(2) The Council may, for completing the said altering, improving, and renovating of the said existing Municipal Buildings and Theatre, borrow by way of special loan under the Local Bodies' Loans Act 1926, but without taking the steps prescribed by sections nine to thirteen of that Act, the sum of one thousand dollars.
(3) Notwithstanding anything to the contrary in the Municipal Corporations Act 1920, or any other Act, the Council is hereby authorized and empowered to lease the land, with right of way, described in subsection four hereof, or any portion of such land, subject to the provisions of sections one hundred and fifty-two to one hundred and sixty of the said Municipal Corporations Act 1920.
(4) The land, with right of way, to which this section relates is particularly described as follows:—
All that piece or parcel of land containing twenty-four and eight-tenths perches, more or less, and being parts of Section 19, Block III, Town of Invercargill, contained in certificates of title, Volume 125, folio 128, and Volume XXIV, folio 184, in the office of the District Land Registrar of Southland, and bounded as follows: on the east by Section 18, Block III, 250 links; on the north by Section 4, Block III, 62.11 links; on the west by other part of Section 19, 250 links; on the south by Tay Street, 62.11 links to starting-point: subject to a right of way over that portion of Section 19 shown coloured yellow on certificate of title, Volume 125, folio 128, and together with a right of way over those portions of Sections 19 and 20 of the said Block III shown coloured blue on said certificate of title, Volume 125, folio 128.
“ten thousand dollars”,
“thirteen thousand dollars”, and
“one thousand dollars” were substituted, as from 10 July 1967, for the words
“five thousand pounds”,
“six thousand five hundred pounds”, and
“five hundred pounds” pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).