WHEREAS by the Napier Harbour Board Loan Act, 1933 (hereinafter referred to as the said Act), as amended by the Napier Harbour Board Loan Amendment Act, 1937, the Napier Harbour Board (hereinafter called the Board) was empowered to borrow, in manner and subject as in the said Act provided, a loan of three hundred and thirty-five thousand seven hundred pounds: And whereas the Board raised the sum of three hundred and thirty-five thousand pounds, and is applying the same in and about the construction and carrying-out of the works referred to in the Schedule to the Napier Harbour Board Loan Amendment Act, 1937: And whereas it has been found that, because of increased costs, the loan raised as aforesaid will be insufficient to provide for the completion of all the works referred to in the said Schedule: And whereas the Board, acting on the advice of its Engineer, has decided to modify the general scheme of works set out in the said Schedule by varying the design of the Number 4 Wharf and making increased provision for other parts of the said works: And whereas it has been found that after making such variation and increased provision the Board will require to provide a further sum of one hundred and twenty-five thousand pounds to enable it to complete the scheme of works modified as aforesaid: And whereas the Board desires to raise a further loan of one hundred and twenty-five thousand pounds for the purposes aforesaid without taking a poll of ratepayers: