« EelmineJätka »
Baths and washhouses.
Municipal Corporations Act.—1923.
ferries, and jetties, subject to the provisions of the
Harbors Act, 1913 : 111. the construction and purchase of tramways to be worked Tramways, &c.
by horse-traction, steam, electricity, or other motive
power : IV. the construction, enlargement, and alterations of sewers Sewers and drains.
and drains and works connected with sewerage and
drainage : v. the construction and purchase of waterworks, gasworks, or Waterworks, &c.
electric light works : VI. the construction and providing of municipal offices, pounds, Market places, &c.
sheep dips, and market places : VII. the construction, purchase, or erection of machinery for Machinery for refuse.
the treatment of refuse or nightsoil : VIII. the construction of baths and washhouses : IX. the providing of pleasure grounds, libraries, museums, and Pleasure grounds.
places of public resort and recreation : X. the construction, establishing, or providing of hospitals, Hospitals, &c.
asylums, or other buildings or places for charitable
purchase, or erection of machinery or plant to be used
incidental thereto :
politan Abattoirs area under the Metropolitan Abattoirs
Act, 1911 :
Widening of public xv. the widening of public streets or any parts thereof.
1183, 1914, s. 27. 436. (1) Before proceeding to borrow any money, the Council Council before shall cause to be prepared
borrowing to preparo
plans, estimates, &c. (a) a statement showing the proposed expenditure of the money M.C. Act, 1890,
to be borrowed ; and
and undertakings, plans and specifications therefor, and
an estimate of the cost thereof.
437. (1) No proposal for borrowing money as aforesaid shall be Notices to be pub-
rowing. (2) Such Ibid., s. 268
Municipal Corporations Act.—1923.
(2) Such notice shall be published in the Gazette and twice in some newspaper generally circulating in the neighborhood, not less than one month nor more than three months before such proposal is adopted. (3) Such notice shall state(a) the amount of the principal moneys for which it is proposed
to issue debentures ; (b) the rate of interest to be named in such debentures; (c) the times and places at which the moneys due on such
debentures are to be payable ; (d) the purposes to which the loan is to be applied ; and (e) that the statement mentioned in section 436 is open for
inspection at the Town Office. (4) In case the loan is to be applied in the purchase of works and undertakings, such notice shall also specify such works and undertakings.
(5) In case the loan is to be applied in the execution of works and undertakings, such notice shall also state that the plans, specifications, and estimate relating to such works and undertakings mentioned in section 436 are open for inspection at the Town Office.
Power to demand
438. (1) Within one month after the last publication of such notice, any twenty ratepayers may, by writing under their hands delivered to the Mayor or Clerk, demand that the question whether or not such loan is to be incurred be submitted to a poll of the ratepayers.
(2) If no such demand is made, the consent of the ratepayers shall be considered as obtained.
(3) If such demand is made, the question shall be submitted to a poll accordingly.
Scale of voting:
439. (1) In any Municipality in which Division III. of Part XXIII. is not in operation section 400 shall apply to the voting at a poll with respect to a loan.
(2) In any Municipality in which the said Division III. is in operation section 406 shall apply to the voting at a poll with respect to a loan.
After obtaining consent of ratepayers, Council, by a majority of the whole may make order for loan, to be approved by the Minister in certain
440. (1) Where the consent of the ratepayers has been obtained as aforesaid, the Council may, at any time not less than one month nor more than three months after the publication of the notice of the proposal for borrowing by a resolution carried by a majority of the whole number of members of the Council, make an order for borrowing the money, and for the purposes mentioned in such notice.
M.C. Act, 1890,
GEORGII V, No. 1558.
(2) If the purposes for which the money is to be borrowed include the exercise of the compulsory power of taking land, such order shall not be acted on until approved by the Minister.
rate becomes continuous till the dis.
441. (1) After such order has been made, and, if necessary, After order, debenapproved by the Minister, the Council shall give notice thereof in the whereupon the Gazette, and may offer, or cause to be offered, for sale, debentures special or separate in accordance with the Gazette notice.
charge of the loan. (2) Upon the issuing of any such debenture the special or separate Ibid., s. 272. rate on the security of which the loan is to be raised shall become a continuous annual rate until the discharge of such loan ; and any surplus of the last year's rate, after the discharge of the loan, shail be added to the moneys arising from the general rate.
(3) Notwithstanding anything in this Act, in case, by the 1183, 1914, s. 25 (1). accumulation of the proceeds of such special or separate rate and the interest thereon, a sum sufficient to discharge such loan is obtained before the discharge thereof is due, the Council may, with the approval of the Minister and upon investing such sum in a manner to be approved by him (if not already so invested), discontinue the levying of such rate: Provided that1. If, by any means, the investments of such sum (with the
interest thereon added thereto), afterwards become
the rate as so required :
debenture or coupon holders, of a receiver under section
as if the levying thereof had not been discontinued. 442. (1) In the case of a loan raised upon the security of a special How special or or separate rate the Council shall appropriate such rate, in the first appropriated. instance, to the payment of interest half-yearly on the debentures, M.C. Act, 1890, or, if the principal, with interest thereon, is repayable by periodical instalments, then to the payment of such instalments, and, in either 1183, 1914, s. 25 (2). case, the balance shall be carried to a sinking fund, to be invested at interest in a manner to be approved by the Minister.
(2) The interest of such fund shall, every half-year, be added to and invested with the principal.
(3) Such fund, and the interest thereof, so invested, shall be applied to the discharge of the principal moneys still owing on the debentures.
443. (1) Any
separate rate to be
Municipal Corporations Act.-1923.
Power to borrow for
M.C. Act, 1890,
443. (1) Any Corporation may, from time to time, for the purpose purposes foxepaying of repaying any loan previously contracted, borrow at interest
(without the necessity of obtaining the consent of the ratepayers), on the security of the general rates declared or to be declared under
this Act, any sum not exceeding the amount owing in respect of such 1183, 1914, s. 25 (3). loan.
(2) For securing the repayment of the money so to be borrowed with interest, the Council may assign the general rates under this Act, or any part of such rates, and may issue debentures under the seal of the Corporation.
(3) The Council shall, except in such cases as mentioned in subsection (4) hereof, appropriate the rates on which such moneys have been borrowed in the first instance to the payment of interest half-yearly on the debentures, and shall also set apart out of such rates an amount not less than one-fiftieth part of the total sum originally borrowed on such debentures for a sinking fund, to ensure the redemption of the debentures when due. Such fund shall be invested at interest in a manner to be approved by the Minister, and the interest thereon shall every half-year be added to and invested with the principal; and such fund and interest shall at the due date of the debentures be applied to the discharge of the principal moneys owing thereon.
(4) In case the principal of any money borrowed under this section, with interest thereon, is made repayable by periodical instalments, the Council shall, from time to time and in the first instance, appropriate to the payment of such instalments such amounts of the rates on which such money has been borrowed as may be necessary for
Council may submit 444. (1) In addition to the powers conferred by the foregoing scheme for a work or provisions of this Part, the Council may submit for the Minister's undertaking. authorisation a scheme for any proposed work or undertaking, 1093, 1912, s. 4. whether such work or undertaking is or is not a work or undertaking
which might be executed under any of the other provisions of this Act, and whether the same is to be executed wholly within, or wholly, or partly without, the Municipality of such Council.
(2) The scheme so submitted shall be in writing, and shall clearly state
(a) the proposed work or undertaking ;
executed ; and
445. The Minister may at any time before authorising the scheme propose such amendments thereto as he thinks proper, and if the Council accept such amendments the scheme shall be amended accordingly.
The Minister may amend the scheme. Ibid., s. 5.
446. The 451. The
Municipal Corporations Act.—1923.
446. The Minister may authorise the scheme if he is of opinion The Minister may that the proposed work or undertaking stated therein, as submitted authorise the scheme.
Ibid., s. 6. or as amended (as the case may be), will —
(a) be of a permanent character ;
(c) prove to be reproductive or revenue earning :
447. (1) If the Minister authorises the scheme he shall cause a Notice of authorisanotice of his authorisation thereof, together with a copy of the tion to be published. scheme as subinitted or as amended (as the case may be), to be Tbid., 8. 7. published in the Gazette at the cost of the Council ; and the scheme as so published shall be an authorised scheme from the date of such publication.
(2) The production of a copy of the Gazette purporting to contain such authorisation shall be conclusive evidence that, with respect to such authorised scheme, the provisions of this Act have been complied with.
448. After such publication the Council may execute the work After authorisation or undertaking stated in the authorised scheme, and may, from time the work and borrow to time, without further or other authority or consent than this for that purpose. section and the authorisation as aforesaid of the Minister, borrow Ibid., s. 8. money for such work or undertaking on the security of the general rates, by the issue of debentures or otherwise, notwithstanding that the total amount so borrowed exceeds the estimated cost as stated in the scheme when submitted or as amended.
449. (1) Debentures issued by the Council shall be under the form of debentures
and coupons. corporate seal, and shall be in the form given in the Sixteenth Schedule, subject to such variations as may be necessary where the 1183, 1914, s. 25 (4). loan, with interest thereon, is repayable by periodical instalments.
(2) Coupons or vouchers for interest or for periodical instalments (according to the circumstances of the case) shall be annexed to such debentures, and, subject as aforesaid, shall be in the form given in the same Schedule.
(3) A register of all debentures issued shall be kept at the Town Office, and shall remain open for the inspection of ratepayers at all reasonable hours.
450. The principal and interest upon such debentures shall be Repayment of
money borrowed. payable and paid to the bearers of the debentures or coupons, as
M.C. Act, 1890, the case may be, at the place and time, or respective times, specified 8. 276. in such debentures or coupons, and the interest payable on such 1183, 1914, 8. 25 (5). debentures shall in no case exceed Seven and a Half Pounds per 1617, 1922, .. 20. centum per annum.