Dublin Docklands Development Authority Act, 1997

Borrowing by Authority.

30.—(1) Subject to the approval of the Minister, given with the consent of the Minister for Finance, the Authority may borrow money (including money in a currency other than the currency of the State) for the purpose of providing for current or capital purposes.

(2) Any moneys borrowed by the Authority pursuant to this section and any interest accruing thereon may be secured on the revenue, funds or property of the Authority or may be guaranteed by the Minister for Finance under section 31 .

(3) The Authority shall exercise the powers conferred on it by this section so that the amount or amounts of principal which the Authority may at any particular time be liable to repay on foot of any liability or liabilities incurred under this section does not, or do not in their aggregate, exceed £50,000,000.

(4) For the purposes of this section moneys borrowed or raised in a currency other than the currency of the State shall be deemed to be the equivalent in the currency of the State of the actual moneys borrowed or raised, such equivalent being calculated according to the rate of exchange for that currency and the currency of the State at the time such moneys were borrowed or raised, as the case may be.