Section 41

for acquiring any land or other moveable assets which the local authority has power to acquire;

for erecting any building which the local authority has power to erect;

for the execution of any permanent work, the provision of any plant or the doing of any other thing which the local authority has power to execute, provide or do; and

for paying off existing loans.

Any moneys borrowed from the Government by a local authority shall, subject to any prior charge, be a first charge upon the revenues and assets of such local authority.

41

Borrowing powers for special purposes