This Act may be cited as the Napier Harbour Board Loan and Empowering Act 1968.

In this Act, unless the context otherwise requires,—

This Act shall be deemed to be a special Act within the meaning of the Harbours Act 1950 and the Local Authorities Loans Act 1956.

The Board is hereby authorised, subject to the Harbours Act 1950, to construct and carry out the works specified in the Schedule to this Act.

The works specified in the Schedule to this Act shall, for the purposes of the Harbours Act 1950 or any other Act, be deemed to be harbour works.

It shall be lawful for the Board from time to time, as it may require, to borrow, subject to the Harbours Act 1950 and the Local Authorities Loans Act 1956, a sum or sums of money not exceeding in the aggregate the sum of six hundred and twenty-five thousand dollars. The money hereby authorised to be borrowed is in addition to any money heretofore authorised to be borrowed by the Board under any other Act.

All money borrowed under this Act (other than any money refunded pursuant to subsection (2) of this section) shall be applied and expended in the construction and carrying out of the harbour works specified in the Schedule to this Act.

The Board is hereby authorised to refund to its Harbour Fund Account from the money borrowed under this Act the amount of any money expended, not exceeding three hundred and fifty thousand dollars, whether before the passing of this Act or within six months thereafter, in the construction and carrying out of those works.