Auckland Institute Act 1875
Auckland Institute Act 1875
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Auckland Institute Act 1875
Auckland Institute Act 1875
Public Act |
1875 No 10 |
|
Date of assent |
21 September 1875 |
|
Contents
An Act to enable the Auckland Branch of the New Zealand Institute to raise Funds for the Erection of a Public Museum and Library.
Preamble.
WHEREAS by an Act of the General Assembly of New Zealand intituled “The New Zealand Institute Act, 1867,”
an institution for the advancement of science and art, called “The New Zealand Institute,”
was established and incorporated, and provision was made for the incorporation therewith of branch societies in manner therein mentioned: And whereas a Society in the Province of Auckland known as “The Auckland Institute”
has been and continues to be incorporated with the said New Zealand Institute: And whereas by Crown grant dated the twentieth day of October, one thousand eight hundred and sixty-nine, “all that parcel of land in the Province of Auckland, in our Colony of New Zealand, containing by admeasurement one rood and seven perches more or less, situated in the Parish of Waitemata, in the County of Eden, and being allotment number one, of section number seven, of the City of Auckland, bounded on the North by Eden Crescent, two hundred links; on the East by allotment number sixteen, one hundred and forty-five links; on the South by allotment number two, two hundred links; and on the West by Princes Street, one hundred and forty-five links,”
—was granted under “The Public Reserves Act, 1854,”
to the Superintendent of the Province of Auckland and his successors, Superintendents of the said Province, in trust as a site for an Auckland Institute: And whereas the said Society, known as the Auckland Institute, have established a public museum and library on the said site, and are desirous of building thereon suitable permanent buildings for such museum and library: And whereas the said Society have raised by private subscription for the said purpose nearly two thousand pounds, but require further funds to enable them to complete and fit up the said building as a public museum and library, and in order to raise such funds it is desirable to enable the said site and building to be mortgaged in manner hereinafter mentioned:
Be it therefore enacted by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—
1 Short Title.
The Short Title of this Act shall be “The Auckland Institute Act, 1875.”
2 Superintendent to mortgage land and buildings of Auckland Institute.
It shall be lawful for the Superintendent of the Province of Auckland, at the request of the Council of the Auckland Institute, from time to time to mortgage the hereinbefore described parcel of land, and the buildings which may be erected thereon, or any part thereof, to the extent of not more than one-third of the estimated value thereof, at a rate of interest not exceeding eight per cent per annum.
3 Superintendent not personally liable. On non-payment of mortgage, receiver to be appointed by Supreme Court.
No such mortgage shall imply any personal liability on the part of the Superintendent as such mortgagor, nor shall any mortgagee have any power of sale by virtue of his mortgage, but shall only be entitled, as his sole remedy on non-payment of principal or interest, to have a receiver appointed by the Supreme Court of New Zealand, who shall thereupon enter into possession and manage such mortgaged estate, and pay over to the mortgagee such income as he may be able to derive therefrom, until repayment of the principal amount and interest.
4 Moneys raised by mortgage to be paid to Council of Auckland Institute, to be applied to building and fitting-up public museum and library.
All moneys so raised by mortgage as aforesaid shall be paid over to the Council of the said Auckland Institute, and shall be by them applied solely in or towards building and fitting-up suitable buildings for and in connection with a public museum and library, to be managed by the said Council in accordance with the laws of the said Auckland Institute.
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Auckland Institute Act 1875
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