To Constitute a Board of Conservators for the District of Clutha River

[CLUTHA RIVER CONSERVATORS' BOARD ACT 1875.3

A BILL

To constitute a Board of Conservators for the district of Clutha River.

TXTHEREAS by an Act of the General Assembly of New Zealand intituled Fr2imble· ¥ v " The Clutha River Trust Reserves Act, 1874" it was enacted that as soon as the Superintendent and Provincial Council of the Province of Otago should pass an Ordinance constituting a Board of Conservators for the Dis- 5 trict of Clutha River the said Board of Conservators should hold the lands described in the said Act upon trust for such purposes as sliould be specified in the said Ordinance : A nd whereas it is expedient to constitute a Board of Conservators for the District of the Clutha River:

BE IT THEREFORE ENACTED by the General Assembly of New Zealand in 10 Parliament assembled and by the authority of the same as follows :-

1. The Short Title of this Act shall be the " Cl,itha River Conservators , Short Title. Board Ordinance, 1875."

2. There is hereby constituted for the Clutlia River District tho Boardorconiervators constituted. 15 boundaries whereof are defined in the first Schedule hereto a Board of Con- servators.

8. The said Board shall consist of six members to be appointed by the Board to con,w of sii members. Superintendent with the advice and consent of his Executive Council.

4. Two members of the said Board shall retire annually : During the T,0 members to re· 20 first and second years after their appointment the Board' shall decide by tire annuilly, ballot which of their number shall retire and afterwards the retiring members shall be the two that have been longest iii office provided thfit any retiring member shall be eligible for re-election.

5. So often as any person being a member of the Board shall die resign "r&, jor',5"t 25 become incapable to act or be removed or absent from the said Province of Otago for the space of six consecutive calendar months it shall be the duty of the Superintendent to appoint by proclamation in the Otago Provincial Government Gazette another fit and proper person to be a inember of the Board in the room or stead of the person so dying resigning becoming in- 80 capable or being removed or absent as aforesaid.

6. It shall be lawful for the Superintendent at any time and from timc power to remove to time upon a resolution being passed by the Provincial Council requesting members. him so to do to remove all or any one or more of the members of the Board and upon a notification being inserted in the Otago Provincial Government 35 Gazette of the fact of the removal of any person as a member of the Board the person named in such notification sliall thereupon cease to be a member of the Board. 2

Powers of Board. 7. The Board shall have full power and authority to do all things necessary for the improvement of the Clutha River and also to erect jetties embankments piers docks wharfe and walls in the said river and to erect bridges and maintain ferries across the said river and also to do all things proper and expedient for the better navigation of the said river and the 5 improvement of the port of Port Molyneux and the said Board shall within the meaning of " The Harbour Boards Act, 1870" be a Harbour Board for the port of Port Molyneux.

Incorporation of 8. The said Board hereby constituted shall be a corporate body in fact Board. and in law by the name ofthe " Clutha River Conservators Board " with per- 10 petual succession and a common seal and with full power aitd authority by that name to sue and be sued plead and be impleaded defend and be de- fended in all Courts and all causes and suits at law or in equity whatsoever with power to take purchase and hold all goods chattels and personal property whatsoever which may be required for the improvement or manage- 15 went of the Clutha River and port of Port Molyneux and also to take and hold all such lands hereditaments and possessions as may be transferred to or vested in the said Board as sites for wharfs (locks or warehouses or as endowments for the said Board or for any other purpose connected with the improvement or management of the said Clutha River and port of Port 20 Molyneux and also to do all other matters and things incidental to or apper- taining to a corporate body subject nevertheless to any provisions contained in '· The Harbour Boards Act, ] 870" affecting such powers.

Chairman or other 9. At all meetings of the Board the Chairman or in his absence such member to preeide, member of the Board as the members assembled shall choose shall preside 25 and such presiding Chairman shall have a deliberative vote and in all cases of equality of votes a casting vote also : Unless five members are present no meeting of the Board shall be constituted for the transaction of business

Quorum. and all acts to be done by the Board (except where any special provision is made herein) and all questions of adjournment or other questions may be 30 done and decided by the majority of members present provided five at least be present.

Power to make By- 10. The Board may from time to time make such by-laws as it shall Laws. think fit for regulating the manner in which and times at which its meetings shall be called and held its place of meeting the appointment renumeration 35 and duties of its officers and generally for regulating the conduct of its business and proceedings and the mode in which such by-laws shall be made.

Appointment of Ofil- 11. The Board may from time to time appoint and employ a treasurer cers. a secretary and such and so many engineers surveyors clerks collectors and other officers to assist in the execution of this Act as it shall think 40 proper and necessary and from time to time remove any of such officers and appoint others in the room of such as shall be so removed or as may die or resign and may out of the funds of the Board pay such salaries and allowances to the said officers respectively as the Board shall think reasonable and any two or more of the said offices may be held by the same person. 45

Omcers to find seeu- 12. Before any officer entrusted by the Board with the custody or con- rity. trol of moneys by virtue of his office shall enter upon such omce the Board shall take sufficient security from him for the faithful execution thereof.

0 ffieer exacting fees 18. Every member of the Board and every officer employed by the unlawfully liable to a Board who shall exact or accept on account of anything done by virtue of 50 Denalty of £50, his office or in relation to the matters to be done under this Act any fee or reward whatsoever other than the salary or allowance (if any) allowed by the Board or who shall be in anywise concerned or interested in any bargain or contract made by the Board shall be liable to a penalty of not exceeding fifty pounds. 55 111

14. All moneys of the Board amounting to five pounds and upwards Moneys to be paid shall within three days after they shall have come to the hands of the into Bank and mode of drawing eheques, proper officers of the Board be paid into such Bank as the Board shall from time to time appoint for that purpose and no such money shall be drawn 5 out of such bank save by cheques signed at a meeting of the Board by the presiding Chairman and countersigned by the Treasurer of the Board or by such other person as the Board may appoint.

15. Every collector appointed or employed by the Board by virtue of Duties of Colle,tor. this Act to collect anv rents or dues shall within three days efter ho ] 0 shall have received any -noneys on account of any such rents tolli or dues payover the same to tr j Treasurer to the account of the Board and the receipt of such Treast, er for the moneys so paid shall be a sufficient discharge to the collect··r and every such collector shall in such time and in such manner as the 1.,ard shall direct deliver to the Board true and perfect 15 accounts in writing un,1 .r his hand of all moneys received by him and of all moneys paid by - im to the said Treasurer by virtue of this Act and also a l.rt of the ni nes of all persons who have neglected or refused to pay any reps due or mo key owing to the Board with a statement of the moneys due from th m respecti ely and in respect of what several periods rents and 20 dues the stale are duc respectively and every such collector shall when required by ihe Board ; ) to do deliver such a list embracing the particulars brought down to the d: r of his delivering such list.

16. Every officer appointed or employed by the Board by virtue of oacer to account this Act shall from time to time when required by the Board inake whon calied upon. 25 out and deliver to the Boird or to any person appointed by it for that purpose a true and perfect account in writing under his hand of all moneys received by him on behalf of the Board and such account shall state how and to whom and for what purpose such moneys have been applied or disposed of and together with such account such officer shall deliver the vouchers and 30 receipts for such payments and every such oficer shall pay to the Board or to any person appointed by it to receive the same all moneys which shall appear to be owing from him upon the balance of such accounts.

17. If any such officer fail to render such accounts as aforesaid Or to Omoer f.iling to aecount liable to a pe- produce and deliver up the vouchers and receipts relating to the same in his nalty not exceedind 35 possession or Dower or to pay the balance thereof when thereunto required £103, or if for five days after being thereunto required any officer of the Board fail to deliver up to the Board or to any person appointed by it to receive the same all papers and writings property matters and things in his posses,iion or power relating to the execution of this Act or belonging to the 40 Board he shall be liable to a penalty of not exceeding one hundred pounds : Provided always that no proceeding against any such officer for such penalty as aforesaid shall deprive the Board of any remedy, which the Board might otherwise have againat such officer or against any surety of such officer.

18. The Board may enter into contracts with any person for the exeell- Boardcontracts. may enter into 45 tion of any works directed or authorised by this or any other Act of the General Assembly to be done by the Board or for furnishing materials or for any other things necessary for the purposes of this Act and eNery sucli contract for the execution ofany work shall be in writing and shall specify the work to be done and the materials to be furnished and the price to be paid for the 50 same and tl: 3 time or times within which the work is to be completed and the penaltie· to be suffered in case of non-performance thereof and the power hereby granted to the Board to enter into contracts may lawfullv be exercised as follows that is to say :- Any contract which if made between private persons would be by law required to be in writing and under seal the Board may 55 make in writing and under the common seal of the Board and in the same manner may vary or discharge the same : 4

Any contract which if made between private persons would be by law required to be in writing signed by the parties to be charged therewith the Board may make in writing signed by the members tliereof or any two of their number acting by the direction and on behalf of the Board and in the same manner may vary or 5 discharge the same : Any contract which if made between private persons would be by law valid although made by parol only and not reduced into writing the members of the Board or any two of them acting by the direction and on behalf of the Board may make by parol 10 only without writing and in the same manner may vary or discharge the same : provided that any agreement made by parol only shall not be valid for any sum exceeding ten pounds.

Boolrs to be provided 19. The Board shall cause books to be provided and kept in such form and open for inspee· tior. (if any) as shall from time to time be appointed by the Superintendent to 15 be used by Harbour Boards and true and regular accounts to be entered therein of all sums received and paid for and on account of this Act and of the several purposes for which such sums of money shall have been received and paid which books shall at all reasonable times be open to the inspection of any of the members of the Board and any persc,n being to EO creditor of the Board without fee or reward and the members of the Board and every such person as aforesaid or any of them may take copies of or extracts from the said books without paying anythin for the same and any Cerk or other person having the custody of the said .,ooks who shall not on aiiy such reasonable demand of any member of t' e Board or any such 25 creditor as aforesaid permit him to inspect the said ,ooks or to take such copies or extracts as aforesaid shall be liable to a per..lty of five pounds for every such offence.

Accounts to be ba- 20. The Board shall cause its accounts to be balanced in each year lanced and audited. to a period not less than one month before the anni. d general meeting at 80 which they are to be produced as hereinafter men' ioned and twenty-one days at least before such meeting the Board shall ause a full and true statement and account to be drawn out of the an ount of all contracts entered into and of all moneys received and expei Jed by virtue of this Act during the prece,ling year and of all available assets and of all 35 debts then owing by the Board and such statement and account shall be laid before the Provincial Auditor or before such other person as the Superin- tendent may by warrant under his hand from time to time appoint to audit the accounts of the Board and the Provincial Auditor or other the person so appointed to audit the accounts of the Board shall in the presence of the 40 Clerk of the Board if he desire to be present proceed to audit the accounts of the year preceding such balancing and the Board shall by its Clerk produce and lay before the auditor or such person as aforesaid the accounts so balanced as aforesaid together with the said statement and account accoin- panied with proper vouchers in support of the same and all books papers 45 and writings in the custody or power of the Board relating thereto and any person intei ested in the said accounts as a creditor of the Board may be present at the audit of the said accounts by himself or his agent and may make any objection to any part of such accounts and if the said accounts of tile Board be found correct such auditor or other person shall sign the same 50 in token of his allowance thereof but if such auditor or other person thinks there is just cause to disapprove any part of the said accounts he may disallow any such parts of the said accounts as shall be disapproved by him.

Statement and ac· count to be open for 21. The Board shall cause such statement and aecount to be fairly 53 inspection. copied or printed aiid shall allow such statement and account to remain for inspection at the office of the Board and every creditor of the Board or person acting on behalf of any such creditor may at all reasonable times inspect such statement and account and compare the same with the books 5

and documents relating thereto in the possession of the Board and the Clerk shall on demand furnish a written or printed copy of the said state- ments and accounts to every such creditor without fee if printed and if written upon reasonable Dayment to be fixed by the Board not exceeding 5 expence per folio of seventy-two words and fourteen days at the least before the meeting for examining and settling the said accounts as hereinafter mentioned the Board shall give public notice of such intended meeting stating in such notice that the said statement and account are printed and lie at the office of the Board ready for the inspection of the creditors of the 10 Board.

22. The accounts of the Board so balanced as aforesaid and audited Accounts when all' dited to be produced and either allowed or disallowed by the auditor or other person as aforesaid d *nnual meeting, together with the said statement and account shall be produced at the 15 annual meeting of the Board or at some adjournment thereof at which meeting all such creditors as aforesaid may be present and the accounts shall be then finally examined and settled by the Board and if the same be found just and true they shall be allowed by the Board and certified. accor- dingly under the hand of the chairman of such meeting and after such 20 accounts have been so allowed and signed by such chairman the same shall be final in regard to all persons whomsoever. The annual meeting of the Board shall be held on the thirtieth day of the month of June in eacli year Iwid.Annual meeting when unless that day shall happen to fall on a Sunday or holiday in which case tbe said meeting shall be held on the preceding day or on the first of the preceding days which shall not be a Sunday or holiday.

28. The Board shall every year cause an annual account in abstract Abitract of aecounts 25 to be prepared showing the total receipts and expenditure of all funds to be published. received hy virtue of this Act or otherwise for the year ending on the day down to which its accounts shall have been made up for the said annual meeting or on some other convenient day in each year under the several distinct heads of receipt and expenditure with a statement of the balance 30 of such account duly audited and certified by the Chairman of tlic Board and shall cause the same to be published in the Provincial Governinent Gazette and shall also within one month after such account shall have been audited send a copy of the said account free of charge to the Superintendent who shall cause the same to be forwarded to the Provincial Council within 35 ten days after the commencement of its next Session.

24. The lands ment,ioned and described in the Schedule to " TliG T,+„di vested in tho Clutha River Trust Reserves Act, 1874" shall be held by the Conservators Board. in trust for the various purposes for which the Board has been constituted,

25. It shall be lawful for the Board with the sanction of the Superin- I]ent d mly lease re· 40 tendent to lease the said lands or any part thereof at such rents issites serves. and profits and upon such terms and conditions as the Board shall determine so that such leases be for any term not exceeding ninety-nine years to take efFect from the time of the execution thereof.

Appropriation of rent 26. All moneys received by the Board for rents of the said lands shall of reserves. be managed by tho Board and shall be applied and disposed of for tile pur- 45 poses of this Act in such manner as the Board may from time to time determine,

27. The Board sliall graut to ttic Town Councll o f tlie loWn of Balel; ttlla Provi,iontrd,»8:0 for the benefit of the citizens and inhabitants of the said Town full rights sewerage & c privilesres and casements of drainage and seworage in through over alid ' under all lands whiell shall be convoybd to or vested iii or bc under tlic con- trol of the Board by virtue of this Act and shall exprossly reserve suelilights privileges and easements 'n any lease granted by the Board of such lands or eny part thereof. 6

Board may Provide 28. The Board is hereby authorised and empowered to reclaim from dredges. the sea all land which may be or become vested in it and for such purpose may construct and maintain such 1 raining walls and embankments and may provide such dredges and other machines as shall be by the Board thought necessary. 5

Board may Construct 29. The Board may construct such breakwaters docks quays wharts decks &e. piers and jetties as shall be by the Board considered to be necessary for the purposes of this Act and also such cranes sheds breasts craving docks slips and works for the improvement of the said Port as shall be by the Board judged necessary and proper for the safety convenience or reception of ships 10 and vessels resorting to the said Harbour or for the more convenient loading and unloading of such ships and vessels or for the safety or protection of any works constructed or proposed to be constructed by the Board.

Power to borrow 80. In order to raise money for the purpose of constructing such money. works as aforesaid it shall be lawful for the Board from time to time to 15 borrow on the security of any laids for the time being vested in the Board and of the rents thereof and of the dues chargeable or receivable by the Boird under this Act such sum or sums of money as the Board may require not exceeding in the whole the sum of one hundred thousand pounds at an 20 rate of interest not exceeding the rate of six pounds per centum per annum payable half-yearly and so often as any part of such sum shall be repaid the Board may re-borrow the same or any less sum.

Form of mortgage. 81. Every such security shall be by mortgage of the said lands rents and dues and shall be in the form or to the effect set forth in the second Sehe- Second Schedule. dule to this Act and shall be sealed with the common seal of the Board any 25 the consideration therefor shall be truly stated therein. No such mortgage shall create any liability against the revenues of the Colony or of the Pro- vince of Otago and the holder shall have no claim whatsoever on such reve- How transferred. nues in respect thereof and every such mortgage may be asgigned or trans-

Third Schsdule. ferred by deed in the form or to the effect set forth' in the chird Schedule 30 hereto.

Mortgages to be 82. Such mortgages shall be numbered consecutively commencing with umbired. number one and may have coupons attached thereto for every half-year's interest pavable to bearer.

Board may make 88. The Board may from time to time make such arrangements as it arrangements for may think fit for the payment of any of the mortgages or coupons at and 35 plt.ces of paymenf. office or bank in the Colony of New Zealand or elsewhere as to the Board may seem desirable.

No preference be- 84. No holder of any mortgage shall have any preference over any tween mortgage holdera. other holder by reas o i of any priority of date or otherwise but all holders shall rank alike and be entitled to equal rights. 50

Agents may be ap· 85, It shall be lawful for the Board under its Common Seal from time pointed to iaize loan to time to appoint an agent or agents for the purpose of raising any loan by this Act authorised to be raised and such agent or agents shall have power to do all acts that may be specified in the instrument by which such appointment is made. 46

Mortgages to be a 86. All mortgages under this Act together with the interest thereon Rrst charge on landi shall be a first charge on all lands of which the Board may become seized or rent Brates and dues. possessed and on all rents and dues which sl.all be payable to or receivable by the Board.

Board may not dis- 87. It shall not be lawful for the Board to sell or dispose of otherwise 50 pose oflande &c. ex- than bv lease for a term of years as hereinbofore provided any of the landis cent as herein pro· ¥:dodd. vestedin or held bv the Board. 7

88. For the purpose of providing a sinking fund for the payment of Sinkingvided. fund pro- mortgages under this Act there shall on the thirtieth day of June in such year as shall be fixed by the Board not being later than the thirtieth clay of June next after the expiration of five years after the date of the first mort- 5 gages issued be set apad out of the said rents and dues a sum equal to one per cent. on all mortgages issued at that time.

89. Such sums shall be applied in taking up so many mortgages as the How to be app lied. sum so set apart will cover and the balance (if any) shall be invested aft interest and added together with the interest to tile amount set apart for the O same purpose in the next succeeding year.

40. The order in which the mortgages shall be taken up shall be deter- Order in which mort· mined by lot in such convenient manner on a day and at a place to be from g»g es shall be paid. time to time fixed by the Board.

41. On the thirtieth day of June in every subsequent year a sum equal r„ url.her provision 80 5 to one per cent, on the total amount for which mortgages have then been to application of issued with the addition of a sum equal to the interest on all mortgages sinking fund. already paid off shall be applied in taking up so many mortgages to be deter- mined by lot as aforesaid as such two sums with any balance from the preceding year and interest thereon added together will cover and the balance 10 (if any) shall be invested at interest and together with the interest thereon to the amount to be set apart for the same purpose in the next succeeding year

42. When it shall be so decided by lot that any mortgage shall be paid Intere,t to oeoce »Rer off interest thereon shall be paid up to the thirtieth day of September fol. time fixed for p»y· meut of mortgages. lowing but no longer : Provided tliat the full amount of the mortgages with 25 interest thereon to that date be paid on presentation and such mortgages with the coupons belonging thereto and not then due shall be given up to some person authorised by the Board to receive the same.

48. In case any interest due in respect of any mortgage shall be in Fd i„If arrearinterest of holder Sinking arrear or any sum due in respect of the sinking fund shall not be applied as of mortpp m,y »p. 30 hereinbefore provided for six calendar months it shall be lawful for the holder 282=Nment of any mortgage to apply by petition to the Superintendent praying that a Receiver may be appointed.

44. On being satisfied that such default as alleged has been made the *rt;Ste:Y 35 Superintendent shall by writing under his hand appoint some fit and proper person to be ]Receiver with the powers hereinafter mentioned.

45. Upon his appointment the Receiver shall enter into possession of Receiver to enter into possession of rents all lands which may be vested in the Board and thenceforth all rents arising .ud duoi. therefrom and dues in respect of any wharf or dock of the Board shall be 40 paid to the Receiver or some person appointed by him in writing and all books papers accounts muniments of title and other documents relating to the matters aforesaid shall be handed over to the Receiver by the person in whose possession the same may be.

Applicatio i of 46. The money so received shall be applied first in payment of the money. 15 expenses incurred in the execution of the powers hereby vested in the Receiver : Secondly in or towards payment rateably amongst the several holders of mortgages of arrears of interest and future interest from time to time accruing Thirdly in discharge of any sums due and accruing in respect of the sinking fund and if tbere be any surplus the same may be jo expended in improving any portion of tile property held in security and the balance if any shall be temporarily deposited at interest at some Bank in the Province so as to be available when required for any of the purposes aforesaid, 8

Ar e irs paid applica· 47. At any time when the arrears of interest and sinking fund hav tion mitv be made to witbd Receier. 1,ron fully paid and discharged it shall be lawful for the Board to apply t the Superintendent by petition praying that the Receiver may be withdraw] and possession given to the Board.

Superintendent may 48. It shall be lawful for the Superintendent on being satisfied that al comply. arrears of interest and sinking fund have been paid and discharged and tha there is a reasonable probability that the same will not again be allowed t, run into arrear to comply with the prayer of the petition.

Interest again in ar- 49. Whenever at any future time any interest or sinking fund is agal] rear Receiver may again be appointed. permitted to get into arrear for six calendar months it shall be lawfu for the Superintendent from time to time upon a like petition and in lik, manner to appoint a Receiver with the same powers as are by this Act givel to the first appointed Receiver and such Receiver to withdraw in manne herein-before provided.

Receiver's powers. 50. During the time any Receiver is in possession he shall have the fol lowing powers namely- (1) To keep all wharfs houses and other building in repair. (2) To insure against loss or damage by fire. (3) To exercise all the powers and perform all the functions anc duties given to and imposed on the Board by this Act : ]Pro vided that no lease shall be granted without the approval of th( Superintendent and his Executive Council. (4) To employ and pay all such persons as may be necessary to assis in the discharge of the duties imposed by this Act. (5) Subject to the approval of the Superintendent and his Executiv, Council to impose and alter dues for the use of wharfs and dock[ and for that purpose to exercise all the necessary powers.

Receiver'i remunera· 51. The .Receivei shall be paid such remuneration out of the money re· tion. ceived un.ler this Act by way of salary or commission or otherwise as shal be from f. me to time fixed by the Superintendent in that behalf.

Penalty for obstruct- 52. Any person who shall in any way obstruct or interfere with thi ing Receiver. Receiver or with any person appointed by him while in the exerese of thc powers or performance of the duties given or imposed by this Ac t or whc after being applied to shall neglect or refuse to give zip to the Re eiver anj books papers accounts muniments of title or other documents directed to bc handed over to him by this Act shall for every such offence forfeit and pay any sum not exceeding one hundred pounds.

Repeal. 58. The forty-seventh section of " The Clutha River Trust Reserves Act 1874 " is hereby repealed.

THE FIRST SCHEDULE ABOVE REFERRED TO.

All that parcel of land in the Province of Otago Colony of New Zealand containing by estimation fifty thou And (50,000) acres more or less, situate on the banks of the Clutha River being parts of North and South Molyneux Hillend Waitahuna West Tuapeka West Rankleburn Pomahaka and Clutba Survey Districts and the whole of Inch- Clutha Survey District commencing at the most southerly corner of section 1 block I Coast District thence by the south-west bouudary of said section 1 to its north-west boundary thence by road to the boundary line between the North Molyneux and Kaitangata Survey District thence by the said boundary to the northern boundary of the Town- ship of Kaitangata thence ly the said northern boundary of the said town to the Kait,ingata Lake thence by the said Lake and the Kaitangata Creek to the point of intersection of the road-line running through blocks IV and VII North Molyneux Survey District thence in a sollth-westerly direction along the said road to its junction with another road line running between blocks VI, VII, VIII, IX, X, XII and XIII North Molyncux and between sections 1,2,3,4, 9

5,6,7, and 8, block XIV, North Molyneux Survey District to the boundary of the Hillend Survey District thence in a south-westerly direction along the boundary between the Hillend and North Molyneux Survey Districts to the north- east boundary of the Town of Balclutha thence by the north-east and north boundaries of the said township to the western boundary of the said township thence in a straight line to trig station F, Hillend Survey District thence in a straight line to trig station G Hillend Survey District thence in a straight line to trig. station L Hillend Survey District thence in a atraight line to trig. station N Hillend Survey District thence in a straight line to trig. station S Waitahuna West Survey District thence in a straight line to trig. ststion Q Waitahuna West Survey District thence in a straight line to trig. station P Waitahuna West Survey District thence in a straight line to trig. station J Tuapeka West Survey District thence in a straight line to trig. station K Tuapeka West Sur- ¥ey District thence in a straight line in a north-westerly direction to trig. station E Rankleburn Survey District thence in a straight line to trig. station D Rankleburn Survey District thence in a straight line to trig. station C Rankleburn Survey District thence in a straight line to trig. station E Pomahaka Survey District thence in a straight line to trig. station B Pomahaka Survey District thence in a straight line to trig. station A Pomahaka Survey Dis- trict thence in a straight line to trig. station H Pomahaka Survey Dictriet thence in a straight line to the north-west corner of section 9 block LXXII Clutha Survey District thence along the northern boundary of the said section 9 to the road line between blocks LXXII and LXXIX Clutha Survey District thence in a southerly direction by the said road line to the northern boundary of block LXXVILI Clutha Survey District thence by the northern boundary of said block LXXVIII and block LXX Clutha Survey District to the road line between blocks LXlV and LXXI Clu'.ha Survey District thence in a southerly direction along the said road line to the south boundary of block LXIII Clutha Survey District thence by the said south boundaries of blocks LX[II LVI and L Clutha Survey District to the road line between blocks XLfII and XLIX Clutha Survey District thence in a southerly direction along the said road line to the south boundary of block XLII Clutha Survey District thence along the southern boundariea of blocks XLII and XXXVI Clutha Survey District to the western boundary of block XXXIII Clutba Survey District thence by the said western boundary of block XXXITI to its southern boundary thence by the said southern boundary to the western boundary of block XXII Clutha Survey Diatrict thence in a southerly direction along western boundary of said block XXII Clutha Survey District to its southern boundary thence along its southern boundary to the western boundary of block XVII Clutha Survey District thence along the said western boundary of block XVII Clutha Survey District to its southern boundary thence along the southern boundaries of blocks XVII and XIII Clutha Survey District to the western boundary of block VIII Clutha Survey District thence by the western boundaries of blocks VIII VII and VI Clutha Survey District and the western boundary of the town of Molyneux to the southern boundary of the said town of Molyneux thence by the southern boundary of tile Maid town to the north- east corner of section 11 block I South Molyneux Survey District thence in a south-westerly direction in a straight line to the south-west corner of section 10, block If, South Molytieux Survey District thence along the southern boundaries of sections 10 and 3 block II South Molyneux Survey District to the Ocean thence by the Ocean to the starting point.

THE SECOND SCHEDULE ABOVE REFERRED TO.

PROVINCE OF OTAGO, NEW ZEALAND.

No. CLUTHA RIVER CONSERVATORS BOARD LOAN, £100,0 00

Mortgage for £

This Deed made between the Clutha River Conservators Board of the one part and CD of of the other part Witnesseth that in consideration of the sum of £ sterling this day paid to the Clutha River Board for the purposes of the O.lutha River Conservators Board Act 1875 by the said O D (the receipt whereof is hereby a:know- ledged) the Oluwa River Conservators Board hereinafter called "the said Board" by virtue and in pursuance of the said Ordinance do hereby convey and assign by way of Mortgage unto the said C D all and singular the lands tenements and hereditaments whatsoever and wheresoever situate of the said Board and all and singular the rents income and profits thereof And also all and singular the tolls dues and charges payable to or receivable by the said Board under or by virtue of the said Act To hold the premises unto the said C D his heirs and assigns (or t4eir successor, and assigns as the case may be) until the said principal sum of £ together with interest for the same at the rate of (sixpounds) per centum per annum be satisfied And it is hereby agreed and declared between and by the said parties hereto that such principal and interest respectively shall be repaid at the times and in manner respectively hereinafter mentioned (that is to say)

1. The said principal sum by the application to annual drawings of a one per cent. accumulative sinking fund the liability of the said Board continuing at the rate of (seven pounds) (Sl more than the ra/e of interest) per centum per the total amount of debt contracted until the whole shall have been extinguished and the balance after paying the interest on the outstanding mortgages to be applied to the annual drawings.

2. The holder for the time being of this Mortgage will be entitled to receive from the said Board the Burn of £ sterling on the day of following that on which this Mortgage shall have been drawn for payment.

3. Such holder will also be entitled to receive interest on the said principal sum half-yearly at the rite of (Six Pounds) per centum per annum to be computed from the day of 187 to the day on which the principal sum shall have become due and payable by reason of this Mortgage having been drawn.

4. The drawings aferesaid shall take place in the month of in each year commencing in the year 18 and shall be conducted in tbe presence of such of the Mortgage holders as may be pleased to attend and of a IN otary Public. 10

5, The Mortgages drawn shall be paid off at par on the day of next following the date on which the same shall have been drawn and together with the amount of such Mortgage interest thereon shall be paid up to the said day of and no longer.

6. No holder of this Moztgage shall have auy claim whatever on the Revenues of tile Colony of New Zealand or of the Province of Otago in respect of this Mortgage,

In witness whereof the Olutha River Conservators Board have hereunto set their common seal and the said hath hereunto set his hand this day of 187

Sealed withConscrvator: the Common Board, Seal in of presence the Clutha of River (LS.)

THE THIRD SCHEDULE ABOVE REFERRED TO.

FORM OF TRANSFER OF MORTGAGE.

This Deed made between the within named C D of the one part and E F of London Merchant of the other part Witnesseth that in consideration of the sum of £ (Ihe receipt whereof {9 ber-hy acknowledged) the said C D doth hereby transfer to the said E F and his assigns the within written Mortgage security and all benefit and advantage thereof. Dated this day of 18 .

Signed by the said C D in tbe presence of.

CD.

MILLS, DICK & Co., General Printers, Stafford-street, Dunedin,