Dunedin Drill-shed Reserve Act 1876 Amendment Act 1877
Dunedin Drill-shed Reserve Act 1876 Amendment Act 1877
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Dunedin Drill-shed Reserve Act 1876 Amendment Act 1877
Dunedin Drill-shed Reserve Act 1876 Amendment Act 1877
Local Act |
1877 No 8 |
|
Date of assent |
9 October 1877 |
|
An Act to amend “The Dunedin Drill-shed Reserve Act, 1876.”
Preamble.
WHEREAS it is desirable to grant further powers to the Dunedin Drill-shed Commissioners, incorporated by “The Dunedin Drill-shed Reserve Act, 1876,”
and to amend the said Act:
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 Dunedin Drill-shed Reserve Act 1876 Amendment Act, 1877.”
2 Interpretation.
This Act shall be read as part of “The Dunedin Drill-shed Reserve Act, 1876.”
The words “the said Act”
shall mean “The Dunedin Drill-shed Reserve Act, 1876;”
and the words “The Dunedin Drill-shed Commissioners”
shall mean the Commissioners incorporated by the said Act.
3 Power to borrow.
It shall be lawful for the Dunedin Drill-shed Commissioners to borrow, on the security of the rents, issues, and profits of the Drill-shed Reserve described in the Schedule to the said Act, any sum or sums of money not exceeding in the whole the sum of five thousand pounds, and for such a purpose to execute any deed or deeds securing to the lender or lenders the said rents, issues, and profits.
4 Lenders not to have power to sell the reserves.
In any such deed or deeds granting such security as is hereinbefore mentioned, it shall be expressly provided that the lender or lenders shall have no power of sale over the said Drill-shed Reserve, nor over anything save the rents, issues, and profits of the land leased under the authority of the said Act.
5 Application of moneys.
All moneys borrowed under the provisions of this Act shall be applied in and towards the building of a drill-shed and other necessary buildings for Volunteer purposes in the Drill-shed Reserve granted by the said Act: Provided always that no lender of the said moneys, or any part thereof, shall be concerned to see or inquire as to the application of the said moneys, or be answerable for their misapplication.
6 On failure of trust, moneys to be secure.
In the event of the failure of the trust as provided for in Section thirteen of the said Act, the rents, issues, and profits of the said lands granted by the said Act shall still remain as a security to the lender or lenders of the money authorized to be borrowed by this Act.
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Versions
Dunedin Drill-shed Reserve Act 1876 Amendment Act 1877
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