Tees Conservancy Act 1878

JurisdictionUK Non-devolved
Citation1878 c. lxxxvi
Year1878
[41 VICT.] Tees Conservancy Act, 1878. [Oh. IXXXVi.]
CHAPTER lxxxvi.
An Act for conferring on the Tees Conservancy Commissioners
A.D.
1878.
further powers in relation to the borrowing of money and
the levying of tolls, rates, and dues; and for other purposes.
[17th June 1878.]
W
HEREAS by the Tees Conservancy and Stockton Dock Act, i5&i6Vict.
1852,
the Tees Conservancy Commissioners (in this Act called c- clxu-
" the Commissioners") are constituted and incorporated, and by that
Act and the following Acts and Order; (namely,)
The Tees Conservancy Act, 1854;
"ei1?.viot'
The Tees Conservancy Act, 1858 ;
ll^fVicL
The Tees Conservancy Act, 1863
;
ce«iivViof"
The Tees Conservancy Act, 1867;
30 & si
vict.
c.
i.
The Tees Conservancy Order, 1874;
and
?.7cis£v'.ict
The Tees Conservancy
Act,
1875,
38*
397^.
they are invested with powers
for the
conservancy, improvement,
and
regulation
of the
River Tees,
and for the
construction
of
works
and
the reclamation
of
lands,
and
other purposes
:
And whereas
the
estimated cost
of
prosecuting works already
commenced
by
the Commissioners, and
of
other works authorised
but
not commenced, will largely exceed
the
funds
at
their disposal,
and
it
is
expedient that they
be
authorised
to
borrow further moneys
:
And whereas
the
tolls, rates,
and
dues
now
payable
to the
Com-
missioners have become inadequate
for the
purposes
to
which they
are applicable,
and it is
expedient that such tolls, rates,
and
dues
be
revised
and to
some extent increased,
and
that further powers
be
conferred
on the
Commissioners
in
relation
to the
levying
of
tolls,
rates,
and
dues:
And whereas
it is
expedient that
an
extension
of
time
be
granted
for
the
completion
of the
Tees-side Railway authorised
by the
Tees
33 & 39
vict.
Conservancy Act, 1875,
and of
certain reclamation works already c. lxxxvi.
commenced
by the
Commissioners,
and
that
the
Acts relating
to the
Commissioners
be in
other respects amended:
And whereas
the
objects aforesaid cannot
be
attained without
the
authority
of
Parliament:
[Local.-R6.~]
A 1
[Oh.
lxxxvi.] Tees Conservancy Act, 1878. [41 VICT.]
Short title
and construc-
tion of Act.
Power to
borrow.
A.D. 1878.
May it therefore please Your Majesty that it may be enacted;
and be 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.
This Act may be cited as the Tees Conservancy Act, 1878,
and shall, so far as is consistent with the tenor
thereof,
be construed
together with the recited Acts as one Act.
2.
The Commissioners may from time to time, by virtue of this
Act, and independently of any other borrowing power, borrow at
interest, on the security of the Tees Conservancy revenue account,
such sums of money as they from time to time think necessary, not
exceeding in the whole the sum of one hundred thousand pounds,
and may mortgage that account and the revenue for the time being
carried to the credit thereof for securing repayment of the money
borrowed, with interest accordingly.
Payment off 3 ^e Commissioners shall pay off all money borrowed by them
ments or under this Act either by instalments or by means of a sinking fund
sinking fund, appropriated and invested and with the accumulations thereof (if
any) from time to time applied for that purpose, so as in either case
to extinguish the debt as follows; (that is to say,)
As regards any money borrowed before the expiration of ten
years from the passing of this Act, within fifty years after the
expiration of those ten years ; and
As regards any money borrowed after the expiration of those
ten years, within fifty years after the same is borrowed ; and
The amount of instalments or sinking fund to be appropriated
and invested in each year shall be such as the Board of Trade,
having regard to the provisions of this section, approve:
But so that it shall not be obligatory on the Commissioners to begin
to pay off any money by instalments or by means of a sinking fund
unaer this section before the expiration of ten years from the passing
of this Act.
4.
The clerk to the Commissioners shall within sixty days after
the expiration of each year during which any sum is required to be
Annual
return to
Trade with
se^
aPar^
^or a sinking fund or to be paid as an instalment under
respect
to
this Act, transmit to the Board of Trade a return, in such form as
sinking fund. mgj^ ^e prescribed by that Board, and verified by statutory decla-
ration if so required by them, showing the amount which has been
paid by way of instalment or invested for the purpose of such
sinking fund during the year preceding the making of such return,
and the description of the securities upon which the same has been
2

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