|
|
Special meeting to consider as to charging town rates with expenditure in excess of estimate.
17 & 18 Vict. c. 103.
42 & 43 Vict. c. 77.
1 & 2 Will. 4, c. 33.
|
5. If at any time before the completion of the said works the Board reports to the Treasury that it would be desirable to expend any further sum in excess of the sum of thirty thousand pounds for the completion of the works, and recommends that a loan should be offered for that purpose upon the security hereinafter mentioned, and the Treasury thinks fit to sanction such loan, then a special meeting of the Town Commissioners of the town of Arklow shall be held on some day to be appointed by the Board, at which the Town Commissioners shall declare their opinion as to the expediency of charging the rates of the town with the repayment of such further loan as may be offered to be advanced by the Board for the completion of the harbour in excess of the sum of thirty thousand pounds, or with such limited sum for the like purpose as the Town Commissioners think proper to approve.
|
|
| |
If the Town Commissioners pass a resolution in favour of such charge, the Treasury may by order declare all property in the town rateable by the Town Commissioners under the powers conferred on them by the Towns Improvement (Ireland) Act, 1854, to be charged with the payment of the whole of such further loan and interest, or with such limited sum and interest as the Town Commissioners shall, by their resolution, have approved. And such rateable property shall by virtue of this Act become charged with such payment accordingly. All sums declared by the Treasury to be charged upon the town shall be repayable within such period as the Treasury may at their discretion determine, at such rate of interest as the Treasury have fixed for loans to which section two of the Public Works Loans Act, 1879, applies; and otherwise upon the same terms and conditions as apply to loans made by the Board for purposes like to the purposes of this Act, under the Public Works (Ireland) Act, 1831.
|
