Section 136 Power of local authorities to borrow for purposes of Act

(1)

Subject to the provisions of this Act, a local authority may borrow—

(a)

for the purposes of Part II of this Act, so far as it relates to the execution of repairs and works by local authorities,

(b)

for the purposes of Part III (except sections seventy-two to seventy-five and Part II of the Second Schedule) and Part IV of this Act,

(c)

for the purposes of Part V of this Act (except sections one hundred and fifteen and one hundred and twenty),

and a county council (other than the London County Council) may borrow for the purposes of this Act.

(2)

Money borrowed under this Act by the London County Council may be borrowed in manner provided by the London County Council (Loans) Act, 1955.

(3)

The maximum period which may be sanctioned as the period for which money may be borrowed by the London County Council or the Common Council of the City of London for the purposes of this Act shall, notwithstanding the provisions of any Act of Parliament, be eighty years.