Local Government (Dublin) Act, 1930

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Power to borrow for certain purposes.

75.—(1) The Corporation may from time to time, with the consent of the Minister, borrow on the security of the municipal fund and of any revenues of the Corporation or on either such fund or revenues or any part of such revenues such sums as may be required for the following purposes or any of them, that is to say:—

(a) the repayment of all or any of the respective mortgage debts of any of the abolished bodies of which the Corporation is the successor or of any other mortgage debt the liability for which is transferred to the Corporation by or under this Act;

(b) the payment of any moneys properly chargeable to capital and payable by the Corporation by reason of any financial adjustment made under this Act.

(2) Moneys borrowed under this section shall be repaid within such period as the Minister shall sanction.