This Act may be cited as the Dunedin District Drainage and Sewerage Amendment Act, 1937, and shall be read together with and deemed part of the Dunedin District Drainage and Sewerage Act, 1900 (hereinafter referred to as the principal Act).

The Board may from time to time, for the purposes of the principal Act other than the purposes mentioned or referred to in section seventy thereof, borrow any sum of money, not exceeding in the whole two hundred thousand pounds, in addition to any moneys heretofore authorized to be borrowed.

Where any money is borrowed under the authority of this Act, or of any Act hereafter passed authorizing the Board to borrow money, the provisions of sections eight and nine of the Dunedin District Drainage and Sewerage Amendment Act, 1921, shall, with the necessary modifications, apply as if the money were borrowed under the authority of that Act.

In respect of any moneys borrowed under the authority of this Act, or of any Act hereafter passed authorizing the Board to borrow money, it shall be lawful for the Board (but without prejudice to any powers at present vested in it) to raise such loan or any part thereof upon terms of making the same, together with interest thereon, repayable by instalments.

Notwithstanding that in respect of the respective loans referred to in the second column of the Schedule hereto the Board pursuant to the consents contained in the Orders in Council referred to in the first column of the said Schedule issued debentures (particularly described in the third column thereof) providing for the repayment of the said loans and the interest thereon by instalments, such debentures are hereby declared to be in all respects valid and effectual according to the tenor thereof.