Public Works Loans Act 1887
| Jurisdiction | UK Non-devolved |
| Citation | 1887 c. 37 |
| Year | 1887 |
Public Works Loans Act, 1887
(50 & 51 Vict.) CHAPTER 37.
An Act to grant money for the purpose of certain Local Loans; and for other purposes relating to Local Loans.
[16th September 1887]
B E it 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 thePublic Works Loans Act, 1887.
2 Grants for Public Works and Scotch Fishery Board.
(1)2.—(1.) For the purpose of local loans there may be issued by the National Debt Commissioners the following sums; namely,—
(a .) For the purpose of loans by the Public Works Loan Commissioners, any sum or sums not exceeding in the whole the sum of two million pounds:
(b ,) For the purpose of loans by the Commissioners of Public Works in Ireland, any sum or sums not exceeding in the whole one million pounds:
(c .) For the purpose of loans by the Fishery Board for Scotland, any sum or sums not exceeding in the whole thirty thousand pounds.
(2) (2.) The sums so issued shall be issued during, a period ending on the day on which a further Act granting money for the purposes of those loans comes into operation, and in accordance with the provisions of the National Debt and Local Loans Act, 1887 .
3 Certain debts not to be reckoned as assets of Local Loans Fund.
3. Whereas it is expedient that the outstanding portions of the principal of the several local loans specified in the schedule hereto should not be reckoned as assets of the Local Loans Fund established under the National Debt and Local Loans Act, 1887: Be it therefore enacted as follows:
(1) (1.) The said outstanding portions shall be written off from the account of assets of the Local Loans Fund and shall be treated in accordance with the provisions of section fifteen, subsection one, of the said Act.
(2) (2.) Pursuant to those provisions, nothing in this section shall alter the liability of any person or body corporate to pay the principal of, or interest on, any such local loan or any part thereof.
(3) (3.) All moneys received after the passing of this Act in respect of any such loan shall be carried to the credit of the Local Loans Fund.
4 Power for certain local authorities to guarantee harbour loans.
4. Whereas under section seven of the Public Works Loans Act, 1882, provision may be made for enabling any rating authority as therein defined to charge any fund or rate under their control for the purpose of aiding a public body in raising a loan for the construction of a harbour, pier, or other similar works, and it is expedient to extend the provisions of that section to certain other rating authorities: Be it therefore enacted that the expression ‘rating authority’ as defined in that section shall include:—
(1) (1.) As regards England:—
(a .) any authority being a rural sanitary authority under the Public Health Act, 1875 , and the Acts amending the same; and
(b .) any justices in quarter sessions assembled and any representative county body which may be hereafter created by Act of Parliament.
(2) (2.) As regards Scotland:—
(a .) any local authority under the Public Health (Scotland) Act, 1867 , and the Acts amending the same; and
(b .) the Commissioners of Supply of counties, and any representative county body which may be hereafter created by Act of Parliament.
(3) (3.) As regards Ireland:—
(a .) any authority being a rural sanitary authority under the Public Health (Ireland) Act, 1878 , and the Acts amending the same; and
(b .) any grand jury making a presentment which has been previously sanctioned at presentment sessions, and any representative county body which may be hereafter created by Act of Parliament.
5 Application of Basses Lights Fund towards additional lighthouses in Ceylon.
5. Whereas by the Basses Lights Act, 1869, the Basses Lights Act, 1872, and the Public Works Loans Act, 1881, the Public Works Loan Commissioners were authorised to advance sums for the purpose of constructing the Great Basses Lighthouse and the Little Basses Lighthouse, both on the coast of Ceylon, and a lighthouse on the Island of Minicoy, between the Maldive and Laccadive Islands, and the dues levied in respect of those lighthouses were declared to form one fund (in this section referred to as the Basses Lights Fund), to be applied for the purpose of defraying the expenses incurred in erecting and maintaining those lighthouses, and for no other purpose:
And whereas there is standing to the credit of the Basses Lights Fund a balance of twenty-six thousand pounds or thereabouts, and it is expedient that the said fund be to the extent herein-after mentioned made applicable to the erection and maintenance of two additional lighthouses which it is proposed to erect on or near the coast of Ceylon:
Be it therefore enacted, that the said balance, and any surplus of the said...
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