# The Local Government Reorganisation (Debt Administration) (Merseyside) Order 1988, Article 12: Power to borrow


(1) Without prejudice to its other borrowing powers, the designated council may borrow money for the purpose of discharging the part of its liabilities under article 3(1) and (2) of this Order which consists in the repayment of principal.
(2) Paragraph 8 of Schedule 13 to the Local Government Act 1972 (power to borrow during the fixed period for repaying loans) shall apply in relation to money borrowed under paragraph (1) as if that money were borrowed under paragraph 1(b) of that Schedule and as if the fixed period were a period of 38 years commencing with 1st April 1988.

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Source: https://www.legislation.gov.uk/uksi/1988/452/article/12 (the official version)
Page: https://openlegislation.uk/local-government-reorganisation-debt-administration-merseyside-order-1988/article-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.