Public Works Loans Act, 1897

Definitions, construction, and short title.

38 & 39 Vict. c. 89.

12.(1) The expression “local rate” means any rate levied or assessed, the proceeds of which are applicable to public local purposes, and which is levied on the basis of a valuation of property, and includes any sum which though obtained in the first instance by a precept, certificate, or other instrument requiring payment from some authority or officer, is or can be ultimately raised out of a rate as before defined.

(2) The expression “security of a local rate” includes a security guaranteed by any such local rate.

(3) This Act shall be deemed to be a special Act within the meaning of the Public Works Loans Act, 1875.

[Sub-s. (4) rep. 8 Edw. 7. c. 49 (S.L.R.).]

(5) This Act may be cited as the Public Works Loans Act, 1897.

[Scheds. rep. 8 Edw. 7. c. 49 (S.L.R.).]