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IRISH REPRODUCTIVE LOAN FUND AMENDMENT ACT 1883
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CHAPTER XXXIII.
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An Act to amend the Irish Reproductive Loan Fund Act, 1874. [20th August 1883.]
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[Preamble recites 37 & 38 Vict. c. 86.]
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Short title.
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1. This Act may be cited for all purposes as the Irish Reproductive Loan Fund Amendment Act, 1883.
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Amendment of 37 & 38 Vict. c. 86, s. 4.
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2. As regards the counties of Roscommon and Tipperary the words contained in the fourth section of the Irish Reproductive Loan Fund Act, 1874, “not otherwise provided for in whole or in part by local rate or assessment,” are hereby repealed.
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Loans to town commissioners from Irish Reproductive Loan Fund. 17 & 18 Vict. c. 103.
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3. Subject to the provisions of this Act it shall be lawful for the Commissioners of Public Works in Ireland to advance by way of loan to the town commissioners of every town situated wholly or partially within the counties of Roscommon or Tipperary which has adopted the provisions of the Towns Improvement (Ireland) Act, 1854, such amount of the Irish Reproductive Loan Fund, not exceeding in the whole the amount standing to the credit of each of the said counties respectively in any year, as the Commissioners, with the consent of the Treasury, may from time to time think proper for such objects of public utility as may be approved by the Treasury.
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Steps to be taken to procure loan.
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4. Prior to the advance of any such loan as is in the last section mentioned, the town commissioners requiring a loan shall forward a written representation to the Commissioners of Public Works stating the object of public utility for which the loan is required, accompanied by an estimate of the amount to be expended upon the proposed works or objects, and by such maps, plans, and explanations as may be sufficient to satisfy the Commissioners of the public utility of the proposed works or objects, and that the amount required to be advanced is reasonably adequate to carry out the proposed works or objects; the town commissioners shall likewise specify the period within which they propose that the said loan should be repaid and the fund or rate upon which it is intended to be secured, and shall satisfy the Commissioners of the adequacy of such security.
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Conditions of loan.
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5. The exercise of the powers of borrowing conferred by this Act shall be subject to the following regulations:—
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(1.) Money shall not be borrowed except for permanent objects of public utility (including under the expression any works of which the cost ought in the opinion of the Commissioners to be spread over a term of years):
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(2.) The money may be borrowed for such time not exceeding thirty-five years as the Commissioners determine in each case, and subject as aforesaid the town commissioners shall repay the moneys so borrowed in such manner as the Commissioners, with the consent of the Treasury, may from time to time determine:
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(3.) There shall be charged by way of interest in respect of loans such interest (if any) not exceeding two pounds ten shillings per centum as the Commissioners may from time to time determine:
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(4.) No money shall be expended under this Act on any institution having for its object the reformation of criminals.
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Rate for repayment of loan.
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6. It shall be lawful for the town commissioners of any town to which a loan is made in pursuance of the provisions of this Act in case no fund exists or no sufficient portion of the rates of such town is available for the repayment of such loan to levy a rate for the purpose of repaying such loan, provided that the rate levied under this section does not exceed one penny in the pound upon the entire assessable value of the area over which the jurisdiction to levy rates of such town commissioners extends, and such town commissioners shall have all such powers to enforce the payment of any rate levied in pursuance of this section as are now possessed by them to enforce payment of the ordinary rates payable in respect of such town.
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Power of mortgaging.
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7. The town commissioners of any town requiring a loan under the provisions of this Act are hereby authorised and empowered to charge and mortgage to the Commissioners any portion of the rates of such town or the special rate levied in pursuance of the last preceding section for securing the repayment of such loan with interest at the time or times specified by the Commissioners, and in the event of the non-payment of such loan or any part thereof at the time or times so specified it shall be lawful for the Commissioners to sequester such portion of the rates or such special rate as may have been mortgaged or charged to them for the purposes aforesaid, and to collect the same until the loan or the portion thereof unpaid shall have been satisfied, and for this purpose the Commissioners shall have and are hereby empowered to use all the remedies possessed by the town commissioners for the collection and enforcement of such rates or special rate.
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Interpretation.
17 & 18 Vict. c. 103.
17 & 18 Vict. c. 103.
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8. In this Act, if not inconsistent with the context, the following terms have the meanings hereby respectively assigned to them; that is to say,
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“Commissioners” means the Commissioners of Public Works in Ireland.
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“Town commissioners” means the commissioners appointed under the Towns Improvement (Ireland) Act, 1854, and any Act amending the same; and in the case of towns in which the governing body is a town council, but in which the Towns Improvement (Ireland) Act, 1854, is in force, the term “town commissioners” includes such town council.
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“Town” means any town as defined by section one of the Towns Improvement (Ireland) Act, 1854, which has adopted that Act.
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Construction, 37 & 38 Vict. c. 86.
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9. This Act and the Irish Reproductive Loan Fund Act, 1874, shall be read and construed as one Act, except in so far as the provisions of the said Act are inconsistent with or repealed by the provisions of the present Act.
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