This Act may be cited as the Motueka Borough Council Empowering Act, 1937.

For the purposes of acquiring the land upon which the Motueka Aerodrome is established, and for the purpose of paying for the establishment, cost, and charges of the said aerodrome in accordance with the provisions of section five of the Local Authorities Empowering (Aviation Encouragement) Act, 1929, the Council may raise a loan for an amount not exceeding two thousand four hundred pounds in accordance with the provisions of Part I of the Local Bodies’ Loans Act, 1926, but without taking the steps prescribed by sections nine to thirteen of that Act.

The powers conferred by the last preceding subsection shall not be exercised except pursuant to a resolution passed at a special meeting of the Council and confirmed at a subsequent meeting held not sooner than the tenth day after the day of such special meeting. Public notice of the place and date fixed for such subsequent meeting (which may be either special or ordinary), and of the resolution proposed to be confirmed thereat, shall be given at least twice in the period intervening between the two meetings.

The Local Government Loans Board shall not sanction any proposal to raise a loan under the authority of this section unless it is satisfied by the Council either that the work has been carried out at a cost not exceeding the sum of two thousand four hundred pounds or that the Council will be able to pay the cost of such work, in so far as it may exceed the sum of two thousand four hundred pounds, out of moneys other than loan-moneys.

The Council may, out of the proceeds of the loan, repay to the District Fund Account of the Council all moneys expended therefrom (whether before or after the passing of this Act) for any of the purposes for which the loan is raised.

Section ten of the Local Legislation Act, 1936, is hereby repealed, but without affecting the validity of the memorandum of lease validated by that section.