Harbours, Piers and Ferries (Scotland) Act 1937

21 Borrowing

(1) For the purpose of the acquisition under this Act of a marine work, or for the purpose of constructing any works authorised by a provisional order made on application under section four of this Act, or by or under section seven of this Act, or for the purpose of meeting the expense incurred in obtaining any such provisional order, or for any other purpose of this Act to which capital is properly applicable, a county or town council shall have power to borrow such sums as may be necessary, and the provisions of section twenty-three of the Local Government (Scotland) Act, 1929, shall apply to such power to borrow.

(2) For the purpose of constructing any works authorised by a provisional order made on application Under section four of this Act, or by or under section seven of this Act, or for the purpose of meeting the expense incurred in obtaining any such provisional order, or for any other purpose to which capital is properly applicable in connection with a marine work to which Part III of this Act applies, a harbour authority shall have power to borrow such sums as may be necessary not exceeding in the whole such amount as may be fixed by the Secretary of State.

(3) Any sums borrowed by a county or town council or by a harbour authority in pursuance of this section shall be repaid by such method, subject to such conditions, and within such period as the Secretary of State may fix,