Metropolitan Board of Works (Money) Act 1885
| Jurisdiction | UK Non-devolved |
| Citation | 1885 c. 50 |
| Year | 1885 |
Metropolitan Board of Works (Money) Act, 1885
(48 & 49 Vict.) CHAPTER 50.
An Act further to amend the Acts relating to the raising of Money by the Metropolitan Board of Works; and for other purposes.
[6th August 1885]
Whereas by the Metropolitan Board of Works (Loans) Act, 1875, (in this Act referred to as ‘the Act of 1875,’) the raising of money by the Metropolitan Board of Works (in this Act referred to as ‘the Board’) for the purposes therein specified was regulated, and provision was made requiring that the borrowing powers granted to the Board by Parliament for the purposes therein named should for the future be limited both in time and amount:
And whereas by the Metropolitan Board of Works (Money) Act, 1884, (in this Act referred to as ‘the Act of 1884,’) the Board were empowered to raise certain sums of money for the purposes in the said Act mentioned, and limits of time and amount within which the powers by the said Act granted might be exercised were fixed:
And whereas the powers for the raising of money by the Act of 1884 conferred upon the Board have been partially exercised, but it is expedient that the Board should have power to raise certain further sums of money specified in the First Schedule to this Act annexed for the purposes, upon the terms, and subject to the limitations herein-after mentioned, and that the Act of 1884 should be amended:
And whereas it is expedient that the Board should be empowered to apply for the purpose of certain loans by the Board under this Act, any moneys for the time being forming part of the consolidated loans fund, and not required for the payments of the dividends on consolidated stock:
And whereas it is expedient that the Board should after the issue of consolidated stock be empowered to pay certain parts of the dividends due thereon out of the moneys and in the manner by this Act prescribed:
And whereas the payments by the Board up to the 31st December 1884 for the purposes of the Fire Brigade Act, 1865, exceeded by the sum of ten thousand eight hundred and fifty-four pounds fifteen shillings and sevenpence, the amount of the moneys authorised to be raised by means of the consolidated rate, under the authority and subject to the limitations of the Metropolitan Board of Works (Loans) Act, 1869, and of the moneys received by the Board towards their expenses for the said purposes, and the said sum was advanced by the Board out of other moneys in hand, and it is expedient that such payments be sanctioned and confirmed, and that the Board should be authorised to transfer to the Fire Brigade Account a sum of ten thousand eight hundred and fifty-four pounds fifteen shillings and sevenpence from the balance in their hands of late raised for general purposes:
And whereas it is expedient that the Board should be empowered to raise any of the moneys which they are by this Act authorised to raise and which it may be convenient to raise for a temporary period by the issue of bills, with the consent of the Treasury, for not less than three and not more than twelve months, to be repaid out of moneys raised by the creation of consolidated stock under this Act:
And whereas it is expedient to make provisions such as are in this Act contained with respect to unclaimed stock, unclaimed dividends on stock, and unclaimed moneys applicable to the redemption of stock:
Be it therefore enacted by the Queen's most Excellent Majesty, by and with the advice and consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the authority of the same, as follows:
1 Short title.
1. This Act may be cited as theMetropolitan Board of Works (Money) Act, 1885, and the Metropolitan Board of Works (Money) Acts, 1875 to 1884, and this Act, may be cited together as the Metropolitan Board of Work (Money) Acts, 1875 to 1885.
2 Construction of Act.
2. This Act shall be read and have effect as one with the Metropolitan Board of Works (Loans) Acts, 1869 to 1871, and the Metropolitan Board of Works (Money) Acts, 1875 to 1884.
3 Interpretation.
3. The expression ‘Parks and Open Spaces Acts’ in this Act shall mean the enactments specified in the Second Schedule to this Act annexed.
The expression ‘Main Drainage Acts’ in this Act shall have the same meaning as is assigned to the same term in the Metropolitan Board of Works (Loans) Act, 1869.
4 Amendment of 47 & 48 Vict. c. 50. s. 7. subsections \(c), \(h), \(i), & \(k).
(i)4. (i.) Sub-section (c ) of section seven of the Act of 1884 shall be read and construed as if the amount which the Board were thereby authorised to expend for the purposes of the Metropolis Toll Bridges Act, 1877, including the cost of certain special works for the maintenance and repair of the bridges acquired by the Board under the said Act and the commutation of pensions, had been limited to a sum of forty thousand pounds instead of twenty thousand pounds.
(ii) (ii.) Sub-section (h ) of section seven of the Act of 1884 shall be read and construed as if instead of the sum of four hundred and ten thousand pounds therein mentioned with respect to the purposes of the Metropolitan Street Improvements Act, 1877, the sum of four hundred and twenty-one thousand pounds were therein inserted.
(iii) (iii.) Sub-section (i ) of section seven of the Act of 1884 shall be read and construed as if instead of the sum of two hundred thousand pounds therein mentioned with respect to the purposes of the Metropolitan Street Improvements Act, 1883, the sum of four hundred and fifty-seven thousand pounds were therein inserted.
(iv) (iv.) Sub-section (k ) of section seven of the Act of 1884 shall be read and construed as though the purposes for which the Board were thereby authorised to expend moneys included any improvement effected by the Metropolitan Board of Works and sanctioned by Parliament, expenditure in relation to which was not otherwise specially provided for by the said Act, and the purchase and erection of lamp standards on such parts of such improvement as the Board may think fit.
5 Amendment of 47 & 48 Vict. c. 50. s. 10.
5. Section ten of the Act of 1884 shall be read and construed as if the sums which the Board were thereby authorised to lend to boards of guardians had been limited to a sum not exceeding four hundred thousand pounds instead of two hundred thousand pounds.
6 Amendment of 47 & 48 Vict. c. 50. s. 12.
6. Section twelve of the Act of 1884 shall be read and construed as if the sums which the Board were thereby authorised to lend to the School Board for London had been limited to a sum not exceeding nine hundred and fifty thousand pounds instead of seven hundred thousand pounds.
7 Amendment of Act of 1884 as to expenses under 44 & 45 Vict. c. cxcii. and 47 & 48 Vict. c. ccxxviii.
7. The Board may, during the year ending the thirty-first day of December one thousand eight hundred and eighty-five, expend for the purposes of the Metropolitan Bridges Act, 1881, and the Metropolitan Board of Works Bridges Act, 1884, two hundred and three thousand pounds, provided that the moneys authorised to be expended by the Board under the authority of this section shall be in lieu of the moneys authorised to be expended by the Board for the said purposes respectively under sections six and seven of the Act of 1884, and that the moneys expended by the Board under the authority of the said sections and of this section shall not, together with all moneys previously expended by the Board for the said purposes, exceed seven hundred and ninety-one thousand pounds.
8 Power to expend moneys for the purposes of the Metropolitan Board of Works \(Various Powers) Act, 1885, and Artizans, &c. Acts.
8. The Board may from time to time, up to the thirty-first day of December one thousand eight hundred and eighty-six, expend for the purposes herein-after mentioned such moneys as they may think fit, not exceeding the amounts limited in relation to such purposes respectively.
(i.) For the purposes of the Metropolitan Board of Works Act, 1885, if it becomes law, seven hundred thousand pounds:
Provided always, that the money to be raised and the consolidated stock to be created by the Board for the purposes mentioned in this section shall be raised and created by them from time to time in such amounts and at such times only as the Board shall actually require and as the Treasury shall approve for the purpose of carrying out the provisions of the said Acts respectively in a proper and efficient manner.
9 Power to expend moneys for sundry purposes during year 1886.
9. The Board may from time to time during the year ending the thirty-first day of December one thousand eight hundred and eighty-six expend for the purposes herein-after mentioned such moneys as they may think fit not exceeding the amounts limited in relation to such purposes respectively.
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