Galway Harbour Act, 1935
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Board to discharge existing loan. |
46.—The sum of £8,627 11s. 11d. being the balance outstanding on the 9th day of November, 1934, of certain loans made to the Galway Harbour Commissioners by the Commissioners of Public Works in Ireland (or so much of the said sum as shall not have been discharged at the date of the passing of this Act) shall continue as against the Board to be a first charge on the property and assets upon which the said sum is now charged and shall be charged in like manner upon the rates payable to the Board under this Act and upon all moneys to be raised by the Board under section 48 of this Act and shall constitute a debt due by the Board to the Commissioners of Public Works in Ireland and shall be liquidated by the Board in half-yearly payments of not less than £200 or such higher sum as the finances of the undertaking shall in any particular financial year permit. |