Report. half of the yearly cost of the maintenance of main roads in the county area and borough area respectively, we determined that the difference between one half the average annual cost of maintenance of the main roads in the area added to the borough and the rateable share of the said area in one half of the annual cost of the main roads of the county should be the annual liability for the cessation of which equitable provision was to be made. The sums fixed by the Treasury under the provisions of section 61 (6) of the Local Government Act for the payment of the costs of the Commission, amounting in the aggregate to 5,3711., are shown in Appendix D. All such sums have been received by us from the councils of the counties and county boroughs therein mentioned, and the amounts so received have been paid by us into the Exchequer, as contemplated by the above-mentioned sub-section of the Act. We have not deemed it necessary to set out in this report the various contentions put forward on behalf of the councils interested in the several adjustments, as such contentions and the arguments by which they were supported are contained in the shorthand notes of our proceedings. It will suffice to say that careful attention has been given to the various views presented to us, and that in arriving at our decisions regard has been had to the considerations commended to our notice by the Act, and every effort made to render such decisions, within the meaning of the Act, a final settlement of the various matters to which they relate. The orders giving effect to our decisions, signed by the Chairman of the Commission on our behalf, and issued under our authority, will be found annexed to the minutes of evidence taken in each case. We desire to express our acknowledgment of the ready and courteous assistance received from the Local Government Board in furnishing the statistical and other information for which we had on frequent occasions to apply to them, and also our sense of the able and assiduous efforts made by the officers of the county and borough councils to bring about a satisfactory settlement of the difficult questions arising in the adjustments and to supply the details of contribution and expenditure necessary for the preparation of our final awards. We also desire to record our deep sense of the zeal and ability displayed by our secretary, Mr. Gaskell, in the discharge of the onerous and complicated duties which have devolved upon him. All which we humbly submit to your Majesty's gracious consideration. August 15th, 1892. DERBY. GEORGE SHAW LEFEVRE. JOHN L. WHARTON. FRANK MOWATT. JOSEPH JOHN HENLEY. BORROWING, (And see "COUNTY STOCK.") COUNTY COUNCILS: LOANS FOR PURPOSE OF ADVANCES GENERAL ORDER OF 5TH NOVEMBER, 1895. To the County Councils of the several Administrative Counties in Whereas by sub-section (2) of section 12 of the Local Government "(2.) A county council may lend to a parish council any money which the parish council are authorised to borrow, and may, if necessary, without the sanction of the Local Government Board, and irrespectively of any limit of borrowing, raise the money by loan, subject to the like conditions and in the like manner as any other loan for the execution of their duties, and subject to any further conditions which the Local Government Board may by general or special order impose." Now, therefore, We, the Local Government Board, do hereby order that any loan raised by a county council in pursuance of the above-recited sub-section for the purpose of lending to a parish council any money which such parish council are authorised to borrow shall be subject, in addition to the conditions applied by such sub-section, to the following further conditions; namely, (1.) The loan raised by the county council shall be discharged within a term ending not later than one year after the date at which the parish council are required to pay off the money lent to them. (2.) The money lent to the parish council shall be repayable by them to the county council by equal yearly or half-yearly instalments of principal or of principal and interest combined. (3.) If the whole or any part of an instalment of principal is not paid by the parish council to the county council within six months after the date on which the instalment is due, the county council shall set apart out of the county fund the amount of such instalment by which the parish council are in default, and shall apply the same in repayment of the loan by means of which the moneys lent to the parish council were raised or in redemption of stock if the loan has been raised by stock. If the amount due from the parish council is thereafter received by the county council from the parish council, the amount shall be applied in recouping the county fund the amount set apart out of such fund. (a) See s. 12(2) of the Local Government Act, 1894, ante, p. 610. General General (4.) Subject to article 3, all sums received by the county council from the parish council for principal shall be applied only in repayment of the loan by means of which the moneys lent to the parish council were raised, or in the redemption of stock if the loan has been raised by stock. (5.) All sums which in pursuance of article 3 or article 4 are required to be applied in redemption of stock shall be transferred to the redemption fund, loans fund, or other fund or account to which, under the provisions of, the Acts or regulations in force for the time being in the county governing the issue and redemption of stock by the county council, sums required to be applied in redemption of stock are to be paid. (6.) Subject to article 3, all sums received by the county council from the parish council for principal and not forthwith applied as required by article 4 shall be invested by the county council in securities in which sums so applicable may lawfully be invested, and the county council may from time to time vary any such investments. Given under the Seal of Office of the Local Government Board, this Fifth day of November, in the year One thousand eight hundred and ninety-five. (L.S.) HUGH OWEN, HENRY CHAPLIN, President. Secretary. THE FOLLOWING CIRCULAR WAS ISSUED WITH THE FOREGOING ORDER :— SIR, I am directed by the Local Government Board to draw attention to the power conferred on county councils with respect to lending money to parish councils and to raising loans for this purpose. Sub-section (2) of section 12 of the Local Government Act, 1894, provides that "a county council may lend to a parish council any money which the parish council are authorised to borrow, and may, if necessary, without the sanction of the Local Government Board, and irrespectively of any limit of borrowing, raise the money by loan, subject to the like conditions and in the like manner as any other loan for the execution of their duties, and subject to any further conditions which the Local Governm it Board may, by general or special order, impose.' It will be observed that a county council can only lend money to a parish council which the latter are authorised to borrow, and consequently a county council cannot make an advance unless the parish council have obtained the consent of the county council and of the Board to the borrowing of the money as required by sub-section (1) of section 12 of the Act. When, however, a parish council have obtained these consents, it will be competent for the county council to lend them the money which they are authorised to borrow, and the county council may advance the loan either from money in the county fund at the time or from money obtained by a loan raised for the purpose. If the county council have recourse to a loan, they may borrow without the sanction of the Board, and irrespectively of any limit imposed upon their borrowing by sub-section (2) of section 69 of the Local Government Act, 1888, or otherwise. In other respects the loan must be raised subject to the like conditions and in the like manner as any other loan for the execution of the duties of the county council. The loan, Circular. however, is also to be subject to any further conditions which the Board may by general or special order impose, and the Board have thought it desirable to issue a General Order prescribing such further conditions as appear to them to be necessary. Six copies of the Order are enclosed. The conditions imposed by the Order are that the loan shall be discharged not later than one year after the date at which the parish council are required to pay off the advance made to them, that the money lent shall be repayable by the parish council by equal yearly or half-yearly instalments of principal or of principal and interest combined, and that if the parish council should fail to pay the whole or part of an instalment within six months after the instalment is due, the county council shall set apart out of the county fund the amount by which the parish council are in default, and shall apply that amount in repayment of the loan raised for the purpose of the advance or in redemption of stock if the loan has been raised by stock. On the receipt from the parish council of the amount by which they were in default, the county fund is to be recouped the amount set apart as above mentioned. Subject to this, all sums received by the county council from the parish council for principal are to be applied only in repayment of the loan or in redemption of stock, as the case may be. All sums required to be applied in redemption of stock are to be transferred to the fund or account to which under the Acts or regulations in force in the county governing the issue and redemption of stock, sums required to be applied in redemption of stock are to be paid. Any sums received for principal and not forthwith applied in repayment of the loan or in redemption of stock, as the case may be, are to be invested in securities in which such sums may lawfully be invested. The investments may from time to time be varied by the county council for others of a like kind. Order in Council under section 70 of the Local Government Act, 1888, ante, p. 135 (a). At the Court at Balmoral, the 26th day of September, 1891. Present, the Queen's most Excellent Majesty in Council. Whereas the Local Government Board have, in virtue of the powers conferred upon them by " The Local Government Act, 1888," made certain Regulations apply to the creation, issue, transfer, and redemption of, and other dealings with, any county stock which any County Council create under the Local Government Act, 1888, in exercise of any statutory borrowing powers as defined in the said Regulations: And whereas the said Regulations have, as required by the said Act, been laid before both Houses of Parliament for the period of (a) The regulations confirmed by this Order are amended by regulations confirmed by an Order of August 3rd, 1897, which is set out, post, p. 793. Order in thirty days, and no resolution has been passed by either House that such Regulations ought not to be proceeded with : Now, therefore, Her Majesty having taken the said Regulations (copy whereof is hereunto annexed) into consideration, is pleased, by and with the advice of Her Privy Council, to confirm, and doth hereby confirm, the said Regulations. C. L. PEEL. REGULATIONS referred to in the foregoing Order : THE LOCAL GOVERNMENT ACT, 1888. REGULATIONS AS TO ISSUE OF COUNTY STOCK. To the County Councils of the several Administrative Counties in And to all others whom it may concern. Whereas by sub-section (8) of Section 69 of the Local Government Act, 1888, it is enacted that where the County Council are authorised to borrow any money on loan they may raise such money by stock issued under the said Act or by the other methods mentioned in the said sub-section; And whereas by Section 70 of the said Act it is enacted as follows: 70.-(1.) County Stock may be created, issued, transferred, dealt with, and redeemed in such manner, and in accordance with such regulations, as the Local Government Board may from time to time prescribe. (2.) Without prejudice to the generality of the above power, such regulations may provide for the discharge of any loan. raised by such stock, and in the case of consolidation of debt for extending or varying the times within which loans may be discharged, and may provide for the consent of limited owners and for the application of the Acts relating to stamp duties and to cheques, and for the disposal of unclaimed dividends, and may apply for the purposes of this section, with or without modifications, any enactments of the Local Loans Act, 1875, and the Acts amending the same, and of any Act relating to stock issued by the Metropolitan Board of Works, or by the corporation of any municipal borough. (3.) Such regulations shall be laid before each House of Parliament for not less than thirty days during which such House sits, and if either House during such thirty days resolves that such regulations ought not to be proceeded with, the same shall be of no effect, without prejudice, nevertheless, to the making of further regulations. |