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Power to borrow.
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4. In addition to any power of borrowing vested in boards of guardians under the Acts in force at the time of the passing of this Act, the board of guardians of any union may, with the sanction of the Local Government Board, for the purpose of defraying any costs, charges, or expenses incurred or to be incurred by them in the execution of this Act, or of the Poor Law Acts other than for building, borrow and take up at interest any sums of money necessary for defraying any such costs, charges, and expenses.
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In the case of every such loan the following provisions shall take effect:—
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(1.) The Board of Guardians may borrow any such sums on the credit of the rates of such of the electoral divisions in the union as the guardians with the sanction of the Local Government Board may determine; and for. securing the repayment of any sums so borrowed, with interest thereon, they may mortgage to the persons by or on behalf of whom such sums are advanced the rates leviable on such electoral division or divisions.
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(2.) The money shall be borrowed for such time not exceeding ten years as the Guardians with the consent of the Local Government Board determine in each case.
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(3.) It shall not be lawful for the Local Government Board to sanction any such loan after the first day of March one thousand eight hundred and eighty-one.
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(4.) All sums so borrowed shall be repaid by such instalments as may be agreed on with the sanction of the Local Government Board.
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41 & 42 Vict. c. 52.
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The several provisions of the Public Health (Ireland) Act, 1878, relative to loans to rural sanitary authorities, so far as they are consistent with the enactments contained in this Act, shall apply to all loans contracted by Boards of Guardians under this Act.
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