The Short Title of this Act is “The Wairarapa South County Loan Act, 1898.”

It shall be lawful for the Colonial Treasurer, out of any moneys available for loans under the provisions of “The Government Loans to Local Bodies Act, 1886,” to grant a loan to the Wairarapa South County Council of such a sum, not exceeding two thousand five hundred pounds, as shall suffice to pay off and discharge a similar sum, being portion of an outstanding loan of five thousand and ten pounds raised by the Wairarapa East County Council under “The Counties Act, 1876,” and maturing on the thirty-first day of December, one thousand eight hundred and ninety-eight; and such new loan shall be deemed to be a loan for the construction of a public work within the meaning of “The Government Loans to Local Bodies Act, 1886.”

The said Council shall forthwith on receiving a requisition in writing from the Colonial Treasurer proceed to levy a special rate over the Gladstone and Awhea Ridings of the said county, as security for the purpose of the payment of the annual or other charges of the said loan; and until such special rate shall be levied as aforesaid the said loan shall be deemed to be secured on the revenues and endowments or other property of the said Council.

The special rate levied pursuant to such requisition shall be as valid and effectual for all purposes as if the said loan had been duly raised in the manner and subject to the conditions prescribed by “The Government Loans to Local Bodies Act, 1886,” anything in that Act or any other Act to the contrary notwithstanding.

Sections thirty-three to forty-four (both inclusive) of “The Local Bodies’ Loans Act, 1886,” and sections one hundred and ninety-three to one hundred and ninety-nine (both inclusive) of “The Counties Act, 1886,” shall not apply to any loan made under this Act by the Colonial Treasurer.

The provisions of “The Government Loans to Local Bodies Act, 1886,” and its amendments shall, so far as they are not inconsistent with this Act, be incorporated with and form part of it.