Whereas the Hamilton City Council (in this section referred to as the Council) has expended certain moneys from its General Account in respect of the cost of 3 transit housing centres to be established in the City of Hamilton under the Local Authorities (Temporary Housing) Emergency Regulations 1944:
And whereas it will be necessary to expend further moneys for the purpose of completing those works, and it is estimated that the total cost of the works will exceed 25,000 pounds:
And whereas the Council proposes to raise 3 loans under the authority of the said regulations for the purpose of meeting the cost of the works and has expended a sum of approximately 16,000 pounds from its General Account in anticipation of the necessary authority being granted to the raising of the said loan:
And whereas it is expedient to authorise the Council, out of the proceeds of the loans, when raised, to refund to its General Account a sum not exceeding 16,000 pounds.
Be it therefore enacted as follows:
The Council is hereby authorised to refund to its General Account out of the proceeds of the said loans when raised a sum or sums not exceeding in all 16,000 pounds.