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Harbours and Passing Tolls, &c. Act 1861

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20Power to borrow Money in order to effect such Transfer.

Every Harbour Authority may from Time to Time borrow at Interest, on the Security of any Property belonging to them, or of any Rate or Rates which they have Power to levy, any Sum or Sums they may require for procuring any such Transfer as aforesaid to be made to them; and for the Purposes of such borrowing, the Clauses of "The Commissioners Clauses Act, 1847," with respect to the Mortgages to be executed by the Commissioners (except the Clause numbered 84.) shall be incorporated with this Act. The said Transferors shall hold and apply all Monies paid to them by way of Consideration for any such Transfer as aforesaid upon the same Trusts, if any, and for the same Purposes, upon and for which the said Shipping Dues, if not so transferred, would have been held and applied.

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