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Maximum term for repayment of loans. 53 & 54 Vict.
38 & 39 Vict. c. 55.
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1.—(1) The maximum period which may be sanctioned as the period for which money may be borrowed, by a local authority, for the purposes of the Housing of the Working Classes Act, 1890 (in this Act referred to as “the principal Act”) or any Acts amending it, shall be eighty years, and as respects money so borrowed, eighty years shall be substituted for sixty years in section two hundred and thirty-four of the Public Health Act, 1875.
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(2) Money borrowed under the principal Act or any Acts (including this Act) amending it (in this Act collectively referred to as the Housing Acts) shall not be reckoned as part of the debt of the local authority, for the purposes of the limitation on borrowing under subsections two and three of section two hundred and thirty-four of the Public Health Act, 1875.
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