• Preamble

  WHEREAS the Makerua Drainage Board (hereinafter called the Board) is incorporated under the Land Drainage Act 1908, and its amendments: And whereas the said Board in the year nineteen hundred and twenty-six lawfully borrowed the sum of two hundred and seventy thousand dollars under the Local Bodies Loans Acts for public works: And whereas the said Board omitted to include in such loan a sum sufficient to pay the preliminary expenses of raising such loan: And whereas the Board has no power to raise by way of special loan a sum sufficient to pay the cost of raising such loan: And whereas the Board is desirous of raising a further special loan for the purpose of providing for the said cost of raising such first-mentioned loan, and for the preliminary expenses of raising the loan hereby authorized:

  The expression “two hundred and seventy thousand dollars” was substituted, as from 10 July 1967, for the expression “one hundred and thirty-five thousand pounds” pursuant to section 7(1) Decimal Currency Act 1964 (1964 No 27).

BE IT THEREFORE ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—