215 Borrowing powers of general lighthouse authorities.U.K.
(1)A general lighthouse authority may, with the consent of the Secretary of State and the Treasury, borrow money for the purpose of defraying any expenses incurred or to be incurred by the authority in connection with the discharge of their functions under this Part or Part IX.
(2)A general lighthouse authority may, in connection with any advance to them under this section, mortgage any land or other property belonging to them.
(3)Any sums payable by a general lighthouse authority under the terms of an advance under this section by way of principal, interest or otherwise shall be paid out of the General Lighthouse Fund.