WHEREAS the Christchurch Drainage Board is desirous of raising money for the purpose of constructing a sedimentation-tank in connection with the sewage system of the City of Christchurch: And whereas it is desirable that the purposes for which moneys borrowed under the authority of “The Christchurch District Drainage Act 1875 Amendment Act, 1900,” were authorised to be raised should be extended so as to include other purposes:

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 is “The Christchurch District Drainage Act 1875 Amendment Act, 1903.”

2 Interpretation.

In the interpretation of this Act the following expressions shall have the meanings hereby assigned to them:—

“Board” means the Christchurch Drainage Board as constituted by “The Christchurch District Drainage Act, 1875.”

“District” means the district of the said Board as defined in “The Christchurch District Drainage Act, 1875.”

3 Board to have power to raise special loan.

The Board is hereby empowered to borrow by way of special loan, at such rate of interest not exceeding four and a half per centum per annum as it shall think fit, such sum or sums of money, not exceeding in the whole the sum of seven thousand pounds, as may from time to time be determined by the Board.

4 Purposes for which money is to be borrowed.

Moneys so borrowed shall be raised and expended exclusively for the purpose herein specified, that is to say,—

(a.)

In payment of such commission, charges, and expenses (including the costs of obtaining this Act) as the Board shall determine to have been actually incurred in connection with such loan.

(b.)

In the construction and maintenance of a sedimentation-tank in connection with the sewage system of the said district now under the control of the Board.

5 “The Local Bodies’ Loans Act, 1901,” to apply to the raising and securing the special loan.

With respect to raising the said special loan, securing the repayment thereof with interest, and otherwise in relation to such loan or consequent thereon, the Board shall have and may exercise all or any of the powers vested in local bodies authorised to raise loans by “The Local Bodies’ Loans Act, 1901.”

6 Sections 7 to 13 of “The Local Bodies’ Loans Act, 1901,” not to apply to raising special loan.

The Board may raise the special loan authorised by this Act by special order without taking the steps described in the sections numbered seven to thirteen inclusive of “The Local Bodies’ Loans Act, 1901.”

7 Power to levy special rate in sewage area.

For the purpose of securing the repayment of the said loan, and providing for the payment of interest and sinking fund in respect thereof, it shall be lawful for the Board to appropriate and pledge a special rate to be made and levied upon the rateable property comprised within the City of Christchurch and suburban districts, commonly called the sewage area, as now constituted and defined, or as the same may from time to time hereafter be constituted and defined by the said Board pursuant to the powers and authorities conferred upon it by “The Christchurch District Drainage Act, 1875,” and amendments.

8 Power to pay interest out of revenue from general rates.

Notwithstanding that any moneys raised by way of special loan under the authority of this Act may be secured by a special rate made and levied as aforesaid, it shall be lawful for the Board from time to time, as it may think fit, to pay the interest or interest and sinking fund on such moneys out of the revenue derived from any general rate or rates made and levied by the Board in respect of rateable property comprised within the said sewage area, and in such case, and to the extent to which such interest or interest and sinking fund shall be so paid as aforesaid, it shall not be necessary to collect such special rate.

9 Section 4 of “The Christchurch District Drainage Act 1875 Amendment Act, 1900,” amended.

Section four of “The Christchurch District Drainage Act 1875 Amendment Act, 1900,” is amended by the addition thereto of the following subsection:—

“(4.)

In preparing land at the Board’s sewage-farm for the treatment and reception of sewage.”

Christchurch District Drainage Act 1875 Amendment Act 1903