WHEREAS by the Invercargill Borough Council Special Rate Empowering Act, 1918, the Invercargill Borough Council was authorized to make and levy one special rate for the purpose of the repayment of various loans and interest thereon: And whereas since the date of the said Act further special loans have from time to time been raised by the said Invercargill Borough Council: And whereas by Order in Council dated the thirteenth day of December, nineteen hundred and twenty-seven, and gazetted in the New Zealand Gazette dated the twenty-second day of December, nineteen hundred and twenty-seven, the boundaries of the said borough were altered by including in the said Borough of Invercargill and excluding from the Borough of South Invercargill the lands described in the said Order in Council: And whereas the Council of the Borough of South Invercargill has, pursuant to the powers vested in it, raised from time to time special loans: And whereas pursuant to the provisions of section one hundred and forty-five of the Municipal Corporations Act, 1920, the Council of the Borough of Invercargill may become liable for some portion or portions of the said special loans so raised by the Council of the Borough of South Invercargill, but no agreement or adjustment of the said loans or the liability therefor has yet been made: And whereas it is expedient in the interests of the Borough of Invercargill to authorize the Invercargill Borough Council to make and collect one special rate providing for the payment of the interest and sinking funds in respect of the loans so owing by it as aforesaid, together with any special loans or portions of special loans raised by the Borough of South Invercargill which the said Borough of Invercargill may hereafter be liable to pay under any agreement or adjustment as aforesaid: