Galway Harbour Act, 1935

Power to borrow.

48.—(1) The Board may, with the consent in writing of the Minister first had and obtained from time to time borrow at interest on the security of the Harbour revenue and the funds and property of the Board and of the County contributions and Urban contributions to be made under this part of this Act such sums as may be required for the execution of the works and matters incidental thereto and may with the like consent and on the like security other than the said County and Urban contributions borrow such sums as may be required for other purposes of this Act.

(2) Any sums so authorised to be borrowed by the Board may be raised either by mortgage or by the creation of stock or debenture stock: Provided that the total amount raised by the Board for the execution of the works and matters incidental thereto shall not exceed in the whole the sum of £400,000.