Tynemouth Corporation Loans Act 1882
| Jurisdiction | UK Non-devolved |
| Citation | 1882 c. ccxxxix |
[45 & 46 VICT.] Tynemouth Corporation Loans [Ch. CCXXXix.]
Act, 1882.
CHAPTER ccxxxix.
An Act for making further provision respecting the borrow-
A.D.
1882,
ing of money by the Corporation of Tynemouth; and for
other purposes. [18th August 1882.]
W
HEREAS the borough of Tynemouth (in this Act called "the
borough ") is a municipal borough under the government of
the mayor aldermen and burgesses thereof (in this Act called " the
Corporation") and the Corporation acting by the council of the
borough are the urban sanitary authority for the district of the
borough:
And whereas the borough is subject to the Acts relating to
Municipal Corporations and to the several public and local Acts
and Provisional Orders mentioned and referred to in the Eirst Sche-
dule to this Act annexed and now in force which Acts and Orders
together with the Acts altering amending or affecting any of such
public Acts so far as the same relate to the borough are in this
Act referred to collectively as " the Corporation Acts " :
And whereas the Corporation are empowered under the Corpora-
tion Acts from time to time to levy rates and to borrow moneys for
the purposes of the said Acts respectively:
And whereas the Corporation acting in execution of the Corpora-
tion Acts have from time to time borrowed various moneys and .on
the 25th day of March 1881 owed on account of such moneys
several sums amounting in the whole to the sum of ninety-five
thousand six hundred and thirty-five pounds eleven shillings and
sevenpence :
And whereas such sums are now respectively secured in different
modes with different priorities at different rates of interest and
subject to different conditions as to time of repayment and other-
wise :
And whereas the Corporation will or may from time to time re-
quire to borrow further moneys for the purposes of the Corporation
Acts or some of them :
[Local.-239] A 1
[Oil. CCXXXix.] Tynemouth Corporation Loans [45 & 46 VICT.]
Act, 1882.
A.D.
1882. And whereas it is expedient that the Corporation be empowered
to exercise their statutory borrowing powers for the time being by
means of the creation and issue of Corporation stock :
And whereas the Corporation are the owners of valuable lands
and other property:
And whereas the net annual value of property in the borough
rateable to the relief of the poor amounted in the year 1881 to one
hundred and sixty-seven thousand four hundred and fourteen
pounds:
And whereas an absolute majority of the whole number of the
council of the borough at a meeting held on the seventh day of
December 1881 after ten clear days notice by public advertisement
of such meeting and of the purposes thereof in the Shields Daily
News being a local newspaper published and circulating in the
borough (such notice being in addition to the ordinary notices
required for summoning such meeting) resolved that the expense in
relation to promoting the Bill for this Act should be charged on the
borough fund and borough rate and the general district rate of the
borough:
And whereas such resolution was published twice in the said
Shields Daily News newspaper and has received the approval of the
Local Government Board:
And whereas the propriety of the promotion of the Bill for this
Act was confirmed
by,
an absolute majority of the whole number of
the council at a further special meeting held in pursuance of a
similiar notice on the twenty-eighth day of December being not less
than fourteen days after the deposit of the Bill in Parliament:
And whereas the owners and ratepayers of the borough by resolu-
38 &
39 Vict, tion in the manner provided in Schedule 3 of the Public Health Act
c.
55.
1875 consented to the promotion of the Bill for this Act:
And whereas the purposes of this Act cannot be effected without
the authority of Parliament:
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 (that is to say) :—
Short title !• ^n^s -^c* mSLJ ^e c^ec* ^or a^ PurPoses as *ae Tynemouth
Corporation Loans Act 1882.
Preliminary.
Interpret*- 2. (1.) In this Act—
tion. The borough means the borough of Tynemouth ;
2
[45 & 46 VICT.] Tynemouth Corporation Zooms [Oh. CCXXXix.]
Act, 1882.
The Corporation means the mayor aldermen and burgesses of the A.D. 1882.
borough;
The council the town clerk and the borough fund and borough
rate mean the council the town clerk and the borough fund
and borough rate.of the borough;
District fund and general district rate mean the district fund and
general district rate of the district of the Corporation acting by
the council as a sanitary authority;
The Bank of England means the Governor and Company of the
Bank of England and includes their successors ;
Statutory declaration means declaration under the Statutory
5 & 6
Will.
4.
Declarations Act 1835; c 62.
Person includes corporation;
Schedule means the schedule to this Act.
(2.) .Any power whether or not coupled with a duty of borrowing
or continuing on loan or re-borrowing money or of redeeming or
paying off or creating or continuing payment of or in respect of any
annuity rentcharge rent or other security representing or granted
in lieu of consideration money for the time being existing under
this Act or under any Act of Parliament public or local passed or
to be passed or under any Provisional Order confirmed by Act of
Parliament passed or to be passed or under any order or sanction of
any Government department made or given or to be made or given
by authority of any Act of Parliament passed or to be passed is for
purposes of this Act a statutory borrowing power.
(3.) Any security in which trustees are for the time being by or
under any Act of Parliament passed or to be passed authorised to
invest trust money and any mortgage bond debenture debenture
stock corporation stock annuity rentcharge rent or other security
authorised by or under any Act of Parliament passed or to be passed
of any municipal corporation including the Corporation or of any
other local authority within section thirty-four of the Local Loans
38 & 39
Vict.
Act 1875 is for purposes of this Act a statutory security. c- 83-
(4.) The provisions of this Act referring to interest apply to and
include instalments of an annuity and half-yearly or other payments
of or in respect of a rentcharge rent or other statutory security.
3.
This Act shall be earned into execution by the Corporation Execution
acting by the council. ' by council.
. Creation and Charge of Stock.
4.
(1.) Where the Corporation have for the time being any Creation
of
statutory borrowing power .then subject and according to the pro- Corporation
visions of this Act the Corporation may from time to time, by
resolution of the council exercise the power by creation of stock
A 2 3
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