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Power to pier authority to borrow.
10 & 11 Vict. c. 16.
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9. (1.) Subject to the provisions of an order committing the maintenance of any of the said piers to a pier authority, such pier authority may from time to time, with the sanction of the Commissioners of Works, borrow at interest any sum required for any works which such authority are authorised to execute in pursuance of such order, and for that purpose may mortgage the tolls leviable by them under this Act and also (in case such authority are a local authority) any rate which they are by this Act authorised to make, and the mortgagees of any such mortgage may enforce the payment of any arrears of principal and interest due thereon by the appointment of a receiver.
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(2.) For the purpose of any such loan the provisions of the Commissioners Clauses Act, 1847, with respect to the mortgages to be executed by the Commissioners shall, so far as such provisions are applicable and are not inconsistent with this Act or the said order, be incorporated with this Act; and in the construction of the said provisions for the purposes of such incorporation the “special Act” shall be deemed to be this Act and the said order, and the “Commissioners” shall be the pier authority, and the “clerk to the Commissioners” shall be the pier authority or any person appointed by the pier authority, and the word “rates” shall include any tolls leviable under this Act.
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(3.) A pier authority being a grand jury may also (subject to the limit herein-before imposed on the amount of any applotments to be made in any year for the purposes of this Act) present any sum, to be raised off the county at large or off any one or more of the baronies or half baronies in the county, for the purpose of obtaining a loan in pursuance of this Act, and the enactments for the time being in force with respect to the presenting of moneys by grand juries for the purpose of obtaining loans for public works, and with respect to the making and repayment of such loans, shall be applicable to any such presentment, and to the making of any loan on the security thereof, and to the repayment of any such loan.
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