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Power of governing body to borrow money. 3. The governing body of the University shall have power to borrow upon the security of any land or other property beloning to the University, for such term of years (not exceeding in any case fifty) and upon such conditions as to repayment, as the said governing body may determine in each case, such sums of money as may be certified by the said governing body to be necessary for all or any of the following purposes: (a)The restoration, improvement and extension of any house or building forming part of or connected with or belonging to the University; (b)The erection of new or additional houses or buildings upon lands belonging to the University; (c)The acquisition of lands or buildings for the purposes of the University; (d)The permanent improvement of any lands belonging to the University.
© 1928 Crown Copyright
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