This Act may be cited as the Auckland Harbour Board (Lynfield Development) Loan and Empowering Act 1960.

The Board is hereby empowered to subdivide the whole or any part or parts of the lands set forth in the First Schedule to this Act for the development thereof; and may from time to time construct thereon streets, service lanes, and access ways, and such other public works as may be deemed necessary for the use, convenience, and enjoyment thereof for residential or other purposes; and may provide and construct electricity, gas, water, and sewage services and all other amenities; and may carry out any work that may be necessary for the development of the land or in order to comply with any lawful requirement of any local authority. The Board may either carry out all or any of the above-mentioned works with its own plant and equipment or may enter into a contract or contracts in respect of all or any of the said works.

The development of the whole or any part or parts of the said lands shall for the purposes of section 140 of the Harbours Act 1950 be an undertaking which the Board is authorised to carry out, and all the provisions of the Harbours Act 1950 with regard to any harbour works shall be applicable to any work which the Board is empowered to carry out under this Act.

Notwithstanding anything contained in section 5 of the Manukau Harbour Control Act 1911, or in any other Act or rule of law, the Board may sell or give in exchange any portion of the said lands or any interest therein, and may purchase or accept in exchange any land adjacent to the said lands or any interest therein, and may give, sell, or dedicate any portion of the said lands for any public purposes, and may make all necessary reserve contributions.

Except as provided in subsection (2) of this section, the provisions of the Public Bodies’ Leases Act 1908 and its amendments shall be applicable to the said lands; and the Board is hereby further empowered to lease groups of sites or individual sites; and in respect of a lease of a group of sites the Board may agree to accept the surrender of such lease in respect of any particular site, being one of such group, and to grant a new lease for such particular site to a purchaser of the interest of the original lessee in such particular site for a term equal to the unexpired portion of the original lease. The rental reserved under such new lease shall either be predetermined under the original lease or be determined by agreement between the Board and the original lessee.

Section 8 of the Public Bodies’ Leases Act 1908 shall not apply to any such lease if there is a covenant therein that the lessee will erect one or more houses, or one or more buildings approved by the Board, on the land not later than two years after the date of the commencement of the lease.

This Act shall be deemed to be a special Act within the meaning of the Harbours Act 1950.

It shall be lawful for the Board to borrow from time to time as it may require, in addition to the sums authorised by any previous Acts and subject to the provisions of the Harbours Act 1950 and the Local Authorities Loans Act 1956, such sum or sums not exceeding in the whole the sum of four hundred thousand pounds.

The money so borrowed shall be applied by the Board for the purposes specified in the Second Schedule to this Act.