Auckland Harbour Docks Act 1871
Auckland Harbour Docks Act 1871
Auckland Harbour Docks Act 1871
Auckland Harbour Docks Act 1871
Public Act |
1871 No 29 |
|
Date of assent |
14 November 1871 |
|
Contents
An Act to enable the Auckland Harbour Board to construct Docks and to raise Money to defray the Cost thereof.
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.
The Short Title of this Act shall be “The Auckland Harbour Docks Act 1871.”
2 Interpretation.
In the construction of this Act the words following shall have the meanings hereby assigned to them that is to say:—
“Debenture” shall mean a debenture made and issued under this Act.
“Rents” shall include income profit and proceeds of all kinds.
“Rates” shall include tolls dues and charges of all kinds.
“Wharf” shall include pier jetty quay and every other construction for facilitating the shipping and landing of passengers and goods.
DOCK CONSTRUCTION
3 Harbour Board subject to conditions may construct docks.
It shall be lawful for the Auckland Harbour Board hereinafter called “the Board”
to construct docks on the most suitable sites on the land now vested or which hereafter may become vested in the Superintendent of the Province of Auckland or in the Auckland Harbour Board as an endowment for the Harbour of Auckland subject to the following conditions:—
Conditions.
(1.)
That the sites shall be approved of by the Governor.
(2.)
That sufficient land for the Auckland and Waikato Railway and for a site for a terminus be set apart.
(3.)
That the docks and other harbour works be constructed in connection with the said railway and terminus in such manner as to afford the greatest amount of public convenience in respect of both railway and docks.
(4.)
That the plans and specifications be submitted to and approved of by the Governor Provided that nothing herein contained shall prejudice the rights of persons claiming water frontage.
4 Land for railway to be selected by Governor.
The land to be set apart for the Auckland and Waikato Railway and for the terminus shall be selected by a person to be named by the. Governor and a conveyance thereof shall be made for a nominal consideration to Her Majesty the Queen her heirs and successors for the purposes of such railway and terminus Provided that the land selected for a terminus shall not exceed two acres.
DEBENTURES
5 Money may be raised by debentures.
In order to raise money for the purpose of constructing such docks it shall be lawful for the Board from time to time to issue debentures for any sums of money not exceeding in the aggregate the sum of one hundred thousand pounds bearing interest after a rate to be therein fixed not exceeding six per cent per annum payable half-yearly.
6 Form of debentures.
Every debenture shall be in the form or to the effect set forth in the First Schedule to this Act and shall be sealed with the common seal of the Board and shall be signed by the Chairman of the Board.
7 Debentures to be numbered consecutively and have coupons attached.
The debentures shall be numbered consecutively commencing with number one and shall have coupons attached thereto for every half-year’s interest payable to bearer.
8 Board may make arrangement for places of payment.
The Board may from time to time make such arrangements as it may think fit for the payment of any of the debentures or coupons at any office or bank in Auckland or elsewhere as to the Board may seem desirable.
9 Debentures where to be sold.
Debentures issued under this Act may be sold in New Zealand or elsewhere as the Board may think fit and shall be sold by public tender at a price not being less than a minimum to be from time to time fixed by the Board.
10 No preference between debenture holders.
The holder of any debenture shall not have any preference over any other holder by reason of any priority of date or otherwise but all debenture holders shall rank alike and be entitled to equal rights.
11 Agents may be appointed to raise loan.
It shall be lawful for the Board under their common seal from time to time to appoint an Agent or Agents for the purpose of raising and managing the loan by this Act authorized to be raised and such Agent or Agents shall have power to do all the acts and exercise the functions mentioned in this Act that may be specified in the instrument by which such appointment is made.
12 How debentures issued by them may be signed and sealed.
Debentures issued by such Agent or Agents shall be sealed with a seal to be provided by the Board for that purpose and shall be signed by such Agent or Agents and such sealing and signature shall have the same force and effect as though such debentures had been signed and sealed as provided by section six of this Act.
13 Debentures may be hypothecated.
Prior to the sale of any debentures it shall be lawful for the Board for the purpose of constructing such docks as aforesaid from time to time to borrow and raise money by the hypothecation or mortgage of such debentures upon such terms and conditions as the Board may think fit.
ECURITY
14 Debentures to be a first charge on rents and rates.
The debentures together with interest and sinking fund shall be a first charge on the rents of the land and hereditaments specified in the Second Schedule to this Act and all rates which shall be payable in respect of any wharf or dock thereon.
15 Board may not dispose of land except by way of lease.
Except as herein provided it shall not be lawful for the Board to dispose of by way of sale or otherwise any of the lands rents rates docks and wharves specified in the next preceding section Provided that it shall be lawful for the Board without the concurrence of the debenture holders from time to time to grant leases of all or any part of the said lands for such reasonable rents as can be obtained for the same without taking any fine or premium for the making of such leases.
SINKING FUND
16 Sinking fund provided.
For the purpose of providing a sinking fund for the liquidation of the principal there shall on the tenth day of January in such year as shall be fixed by the Board not being later than the tenth day of January next after the expiration of five years after the date of the first debentures issued be set apart out of the said rents and rates a sum equal to one per centum on all debentures issued at that time.
17 How to be applied.
Such sum shall be applied in taking up so many debentures as the sum so set apart will cover and the balance (if any) shall be deposited at interest in some Bank and added together with the interest to the amount set apart for the same purpose in the next succeeding year.
18 Order in which debentures shall be paid.
The order in which the debentures shall be taken up shall be determined by lot in such convenient manner on a day and at a place to be from time to time fixed by the Board.
19 Further provision as to application of sinking fund.
On the tenth day of January in every subsequent year a sum equal to one per centum on the total amount for which debentures have then been issued with the addition of a sum equal to the interest on all debentures already paid off shall be applied in taking up so many debentures to be determined by lot as aforesaid as such two sums with any balance from the preceding year and interest thereon added together will cover and the balance (if any) shall be deposited at interest in some Bank and added together with the interest thereon to the amount to be set apart for the same purpose in the next succeeding year.
20 Interest to cease after time fixed for payment of debentures.
When it shall be so decided by lot that any debenture shall be paid off interest thereon shall be paid up to the tenth day of January following but no longer Provided that the full amount of the debentures with interest thereon to that date be paid on presentation and such debentures with the coupons belonging thereto and not then due shall be given up to some person authorized by the Board to receive the same.
RECEIVER
21 Interest or sinking fund in arrear debenture holder may apply for a Receiver.
In case any interest due in respect of any debenture shall be in arrear or any sum due in respect of the sinking fund shall not be applied as hereinbefore provided for six calendar months it shall be lawful for the holder of any debenture to apply by petition to the Governor praying that a Receiver may be appointed.
22 Governor may appoint one.
On being satisfied that such default as alleged has been made the Governor shall by writing under his hand and seal appoint some fit and proper person to be Receiver with the powers hereinafter mentioned.
23 Receiver to enter into possession and receipt of rents and rates.
Upon his appointment the Receiver shall enter into possession of the land and hereditaments specified in the said Second Schedule and thenceforth all rents arising therefrom and rates due in respect of any wharf or dock thereon shall be paid to the Receiver or some person appointed by him in writing and all books papers accounts muniments of title and other documents relating to the matters aforesaid shall be handed over to the Receiver by the person in whose possession the same may be.
24 Application of money.
The money so received shall be applied first in payment of the expenses incurred in the execution of the powers hereby vested in the Receiver secondly in or towards payment rateably amongst the several debenture holders of arrears of interest and future interest from time to time accruing thirdly in discharge of any sums due and accruing in respect of the sinking fund and if there be any surplus the same may be expended in improving any portion of the property held in security and the balance if any shall be temporarily deposited at interest at some bank in New Zealand so as to be available when required for any of the purposes aforesaid.
25 Arrears paid application may be made to withdraw Receiver.
At any time when the arrears of interest and sinking fund have been fully paid and discharged it shall be lawful for the Board to apply to the Governor by petition praying that the Receiver may be withdrawn and possession given to the Board.
26 Governor may comply.
It shall be lawful for but not compulsory on the Governor on being satisfied that all arrears of interest and sinking fund have been paid and discharged and that there is a reasonable probability that the same will not again be allowed to run into arrear to comply with the prayer of the petition.
27 Interest again in arrear Receiver may be again appointed.
Provided that whenever at any future time any interest or sinking fund is again permitted to get into arrear for three calendar months it shall be lawful for the Governor from time to time upon a like petition arid in like manner to appoint a Receiver with the same powers as are by this Act given to the first appointed Receiver.
28 Receiver’s powers.
During the time any Receiver is in possession he shall have the following powers namely—
(1.)
To keep all wharves houses and other buildings in repair.
(2.)
To insure against loss or damage by fire.
(3.)
To exercise all the powers and perform all the functions and duties given to and imposed on the Board by this Act Provided that no lease shall be granted without being first approved of by the Governor.
(4.)
To employ and pay all such persons as may be necessary or proper to assist in the discharge of the duties imposed by this Act.
(5.)
Subject to the approval of the Governor to impose and alter rates for the use of wharves and docks and for that purpose to exercise all the powers now vested in the Superintendent by any Act of the General Assembly or of the Provincial Council of Auckland.
29 Receiver’s remuneration.
The Receiver shall be paid such remuneration out of the money received under this Act by way of salary or commission or otherwise as shall be from time to time fixed by the Governor in that behalf.
30 Penalty for obstructing Receiver.
Any person who shall in any way obstruct or interfere with the Receiver or with any person appointed by him while in the exercise of the powers or performance of the duties given or imposed by this Act or who after being applied to shall neglect or refuse to give up to the Receiver any books papers accounts muniments of title or other documents directed to be handed over to him by this Act shall for every such offence forfeit and pay any sum not exceeding one hundred pounds to be recovered in a summary way.
SECURITY LIMITED
31 Debentures chargeable on rents and rates only specified in this Act.
No debenture holder shall have any claim whatever in respect of any debenture issued under this Act on the Revenue of the Colony of New Zealand or of the Province of Auckland hut every such debenture shall he chargeable only on the rents and rates charged therewith by this Act.
32 Commencement of Act.
This Act shall come into operation on a day to be fixed by the Governor by Proclamation in the New Zealand Gazette and until that day shall have no force or effect whatever.
SCHEDULES
FIRST SCHEDULE New Zealand
£(500)
Form of debentures
Auckland Harbour Dock Loan. £100.000
Authorized by an Act of the General Assembly and thereby charged upon the Auckland Harbour Endowments and Revenues only and not upon the Ordinary or other Revenue of New Zealand or of the Province of Auckland.
The principal to be repaid at par by the application to annual drawings of a one per centum Accumulative Sinking Fund.
The bearer of this Debenture will he entitled to receive from the Auckland Harbour Board (£500) sterling on the tenth day of the month of January following that on which this bond shall have been drawn for payment.
The bearer will further be entitled to receive interest thereon half-yearly at the rate of per centum per annum from the day of 187 inclusive to the day on which the above principal shall have become due and payable by reason of this bond having been drawn.
The drawing will take place in the month of commencing in 187 and will be conducted in the presence of such of the Debenture holders as may he pleased to attend and of a Notary Public.
The Debentures drawn will be paid off at par on the tenth day of January following together with interest up to that day inclusive and no longer.
A.B. Chairman Harbour Board
or
(l.s.)
A.B. Agent for the Loan.
Note.—By Accumulative Sinking Fund it is understood that the liability of the Auckland Harbour Board will continue at the rate of per centum per annum on the total amount of debt contracted until the whole shall have been extinguished and that after paying the interest on the outstanding Debentures the balance will be applied to the annual drawings.
SECOND SCHEDULE
All that portion of section No. 2 of the City of Auckland in the Parish of Waitemata in the County of Eden containing by admeasurement four acres and three roods more or less bounded on the North by Custom. House Street one thousand one hundred and eighty links on the East-south-east and South by Fore Street two hundred and sixteen links six hundred and thirty-nine links and five hundred and fifty-three links and on the West by allotments Nos. 1 2 3 4 and 5 of the same section No. 2 five hundred and ten links. Also all that piece or parcel of land situated below high watermark in the Harbour of the Waitemata in the said Province of Auckland bounded on the West by a line from Acheron Point bearing north to its intersection with another line drawn between the Watchman and the Bastion on the North by the last-mentioned straight line drawn between the Watchman and Bastion to its intersection with another line bearing south to Resolution Point on the East by the said line bearing south to Resolution Point and on the South from Resolution Point by the seaward boundary of sections Nos. 2 and 1 of the Suburbs of Auckland and by the seaward termination of all roads in the said Suburban sections to the west of Resolution Point by the seaward boundaries of lot No. 1 of Section No. 31 of the City of Auckland thence by the stream or watercourse to the strand in Mechanics Bay by the seaward boundary of sections Nos. 12 and 8 of the City of Auckland and by the seaward terminations of the streets in the said sections by the seaward boundary of the Ordnance ground known as Point Britomart by Custom House Street by the seaward boundary of sections Nos. 18 25 20 and 19 in the City of Auckland and by the seaward terminations of all streets thereon by Drake Street by the seaward boundary of a Government Reserve in Freeman’s Bay thence crossing the mouth of the Western Creek in the said Bay by the seaward boundary of section No. 8 of the suburbs of Auckland to Acheron Point above named and also all other allotments parcels of land and hereditaments which now are or which may at any time hereafter become vested in the Superintendent of the Province of Auckland or in the “Auckland Harbour Board”
as endowments for the Harbour of Auckland and which may be declared by the said Board by deed under their common seal to be subject to the provisions of this Act. Subject nevertheless and without prejudice to any leases and tenancies which have been created and are now subsisting over portions of the said lands in this Schedule described mentioned or referred to.
Description of land.