Manner of paying for harbour-works proceeded with prior to raising of loan.

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Bluff Harbour Improvements Act 1915

Local Act		1915 No 10
Date of assent		1 October 1915

	Title
1	Short Title.
2	Special Act.
3	Interpretation.
4	Power to borrow.
5	Power to construct harbour-works.
6	Powers to be in addition.
7	Sinking fund to be provided.
8	Manner of paying for harbour-works proceeded with prior to raising of loan.

An Act to enable the Bluff Harbour Board to borrow One Hundred Thousand Pounds for Harbour-works.

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—

1 Short Title.

This Act may be cited as the Bluff Harbour Improvements Act, 1915.

2 Special Act.

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

3 Interpretation.

In this Act, where not inconsistent with the context,—

“The Board” means the Bluff Harbour Board as constituted under the Harbours Amendment Act, 1910:

“The Act” means the Harbours Act, 1908, and its amendments.

4 Power to borrow.

The Board may, subject to the provisions of the Act, borrow and take up at interest any sum of money not exceeding in the whole the sum of one hundred thousand pounds:

Provided that no money shall be borrowed under the authority of this Act which shall produce to the lender a higher rate of interest than six pounds per centum per annum.

5 Power to construct harbour-works.

The moneys so borrowed shall be applied by the Board in making, constructing, erecting, and maintaining the following harbour-works:—

(a.)

Constructing on any lands legally vested in the Board such warehouses, storehouses, sheds, and other buildings and works as may be necessary for the accommodation of goods shipped or unshipped at the harbour, and in erecting, providing, maintaining, or carrying on freezing-works and cool chambers.

(b.)

Erecting, providing, maintaining, or using such cranes, weighing or other machines, public weighbridges, weights and measures, conveniences, or appliances as may be necessary.

(c.)

Providing a supply of water for shipping purposes, and laying down, constructing, and maintaining pipes or channels for the conveyance of water to and within the harbour.

(d.)

Extending, altering, or otherwise improving the present wharf or erecting additional wharves.

(e.)

Purchasing, acquiring, maintaining, and working dredges and machines of any kind for deepening or otherwise improving the Bluff Harbour.

(f.)

Purchasing, acquiring, maintaining, and working a vessel or vessels for towing vessels in and out of the harbour, and also all such boats, barges, and other appliances as may be necessary for the use and service of the harbour and the safety and convenience of shipping resorting thereto.

(g.)

Acquiring and working a quarry or quarries for the procuring of stone, and any plant or machinery required for the proper working of the same.

6 Powers to be in addition.

The powers given to the Board in and by section four of this Act shall be in addition to any other powers of the Board to borrow money under any other Act.

7 Sinking fund to be provided.

(1.)

For the purpose of providing a sinking fund for the liquidation of the principal sum raised under the authority of this Act the Board shall in every year set aside out of the revenue of the Board a sum equal to one pound per centum on the amount of all unredeemed bonds, debentures, and other securities given under this Act previous to the then current year, and shall pay the same to Sinking Fund Commissioners to be appointed by the Board under the provisions of this Act.

(2.)

Any moneys so paid to the said Commissioners may be either invested, together with interest and profits accruing therefrom, in such securities as the Board may from time to time direct, or may be, as to the whole or any part thereof at any time accumulated, utilized for the purchase and redemption of any debentures issued under the authority of this Act for the time being outstanding.

(3.)

The Board may also at any time appropriate any part of the Harbour Fund not appropriated for any special purpose and pay the same to the said Commissioners, to be applied to the purposes mentioned in subsection two of this section.

(4.)

The Board for the purposes mentioned in this section shall appoint, and may from time to time remove and reappoint, Sinking Fund Commissioners within or out of New Zealand, but such Commissioners shall at no time be less than two in number.

8 Manner of paying for harbour-works proceeded with prior to raising of loan.

In the event of the Board having, between the date of the passing of this Act and the borrowing of the moneys hereby authorized to be borrowed, constructed, erected, or purchased any harbour-works, works, or things of the kind mentioned in section five of this Act, the Board may, out of such moneys borrowed hereunder, pay for such harbour-works, works, or things, or reimburse to the Harbour Fund Account, all moneys paid thereout in connection with the construction, erection, or purchase of any such harbour-works, works, or things.

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Bluff Harbour Improvements Act 1915