New Zealand Legislation: Acts
Acts are laws made by Parliament
| Local Act | 1929 No 1 |
| Date of assent | 1 November 1929 |
An Act to confer on the New Plymouth Borough Council certain Additional Powers in regard to the Supply of Electrical Energy; to authorize the said Council to pay out of its General Account the Annual Charges in respect of Interest and Sinking Fund on a certain Special Loan; to authorize the said Council to accept Money in lieu of requiring the making of Reserves upon the Subdivision of Land; to change the Purpose of certain Moneys held by the said Council; and to authorize the said Council to establish Funds for the Purchase, Repair, and Renewal of Depreciable Plant and Appliances.
WHEREAS the New Plymouth Borough Council (hereinafter called the Council) has, pursuant to the powers vested in it in that behalf, established electric light and power works and has undertaken the supply of electrical energy to consumers within and without the Borough of New Plymouth: And whereas it is expedient that the Council should have certain additional powers in respect to the said electrical supply: And whereas the Council, pursuant to the powers vested in it in that behalf, raised a certain special loan, particulars whereof are set out in the Schedule hereto: And whereas it is expedient, in the interests of Borough of New Plymouth, that the Council should be empowered to pay the annual charges in respect of interest and sinking fund on the said loan out of its General Account: And whereas in the subdivision of land within the Borough of New Plymouth it is found that it is not always possible or desirable to provide suitable reserves for recreation purposes on the particular land subdivided, and it is expedient that in certain cases the Council should be empowered to accept a payment of money in lieu of the provision of such reserves, and therewith establish a fund for the purchase of suitable lands to be held for recreation purposes: And whereas by section six of the New Plymouth Borough and New Plymouth Harbour Board Exchange Act 1924, certain moneys received by the Council by way of equality of exchange were required to be expended only for the purpose of effecting improvements upon the lands vested in the Council by the said Act: And whereas the said lands have since been leased for building purposes, and the moneys are no longer required for the purposes for which they were set aside: And whereas it is now expedient that the Council be empowered to use the said moneys for other purposes: And whereas it is deemed expedient to grant to the Council power to establish a fund or funds for the purchase, repair, renewal, replacement or improvement of depreciable property, plant, or appliances:
BE IT THEREFORE ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—