Local Government Act, 1946
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Existing loans of urban authority. |
22.—(1) A loan as respects which an urban authority is the borrower and which, immediately before the commencement of this section, stood charged upon a rate ceasing under section 19 of this Act to be leviable shall stand charged upon the municipal rate. | |
(2) A loan as respects which an urban authority is the borrower, and which, immediately before the commencement of this section, stood charged upon a fund maintained out of the produce of a rate ceasing under section 19 of this Act to be leviable shall stand charged upon the municipal fund. |