5Vesting property of the Kaitangata Athenaeum Trustees in the Corporation of the Borough of Kaitangata

1. Whereas pursuant to section 62 of the Otago Waste Lands Act 1866 the land firstly described in subsection (6) (in this section referred to as the first land) was, by notice dated 14 November 1872 and published in the Otago Provincial Gazette on the 20th day of that month at page 486, reserved as an endowment for an athenaeum:

   And whereas the first land was vested in the Trustees of the Kaitangata Athenaeum (in this section referred to as the trustees) by the Kaitangata and Wangaloa Athenaeum Reserves Act 1879 as an endowment:

   And whereas the trustees also acquired the land secondly described in subsection (6) (in this section referred to as the second land) subject to the Kaitangata and Wangaloa Athenaeum Reserves Act 1879:

   And whereas the trustees have established and maintained a library on part of the second land and have leased the balance of the second land:

   And whereas the Kaitangata Borough Council has also established and maintained a library in the Kaitangata Borough:

   And whereas it is not considered desirable or necessary to maintain 2 libraries within the Borough:

   And whereas the trustees have agreed that the library maintained by them be amalgamated with the library maintained by the Council:

   And whereas the Council has agreed to take over the assets and liabilities of the trustees and to administer those assets for the benefit of the library maintained by it:

   And whereas the trustees now desire to transfer the said lands to the Mayor, Councillors, and Citizens of the Borough of Kaitangata (in this section referred to as the Corporation) for the benefit of the citizens of the Borough but have no power to do so:

   Be it therefore enacted as follows:

2. The first and second land is hereby vested in the Corporation for an estate in fee simple absolute as an endowment, without power of sale, for the benefit of the existing library maintained by the Kaitangata Borough Council or any library which may hereafter be established to replace the existing library, subject to any existing leases (including any rights of renewal) affecting it, but otherwise freed and discharged from all other trusts, reservations, and restrictions.

3. All money and personal property (including all choses in action and the benefit of all contracts and agreements) belonging to the trustees is hereby vested in the Corporation freed and discharged from all other trusts and restrictions.

4. All debts and other liabilities lawfully incurred by the trustees and existing on the passing of this Act shall hereafter be debts and liabilities of the Corporation; and the Kaitangata Borough Council is hereby authorised to satisfy those debts and liabilities out of the general funds of the Corporation.

5. Amendment(s) incorporated in the Act(s).

6. Amendment(s) incorporated in the Act(s).

7. The land to which this section relates is more particularly described as follows:

   Firstly, all that area of land in the Otago Land District, containing 304 acres and 38 perches, more or less, being Sections 3 and 6, Block III, Kaitangata Survey District (SO Plan 688), and being all the land comprised and described in certificate of title, volume 54, folio 101, Otago Land Registry.

   Secondly, all that area of land in the Otago Land District, containing 2 roods and 31.5 perches, more or less, being Sections 1, 2, and 3, Block LXXXIV Town of Kaitangata (Borough of Kaitangata), being all the land comprised and described in certificate of title, volume 184, folio 161, Otago Land Registry.