The Auckland Council can borrow money or make arrangements in a different currency, not just New Zealand dollars. You can find more information about what the council is normally allowed to do in section 113 of the Local Government Act 2002, but this rule does not apply to the Auckland Council when it comes to borrowing in foreign currency. The council can do this in New Zealand or in another country.
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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM4041709.
Despite section 113 of the Local Government Act 2002, the Auckland Council may borrow or enter into incidental arrangements, within or outside New Zealand, in currency other than New Zealand currency.
