This Act may be cited as the Westport Harbour Board Loan Act, 1908.

In addition to any moneys heretofore authorised to be borrowed, the Westport Harbour Board may from time to time borrow, on the security of its endowments, subject to the provisions of the Harbours Act, 1908, and to the Governor’s previous approval of the works proposed to be constructed, any sum not exceeding two hundred thousand pounds, for the completion of harbour-works and the improvement of the Harbour of Westport; but no money shall be borrowed under the authority of this Act which shall produce to the lender a higher rate of interest than five pounds per centum per annum, anything in the last-mentioned Act notwithstanding.

In order to provide for the repayment of the moneys borrowed under the authority of this Act the Board shall set apart in every year as sinking fund a sum equal to not less than one pound per centum per annum of the amount borrowed and outstanding.

This Act shall be deemed to be a special Act within the meaning of the Harbours Act, 1908.