2
Second Schedule
Implementation of obligations under agreement.
Power to amend Schedules.
CAP. 271] Loans (Asian Development Bank)
[1984 Ed.
(2) Where sums borrowed under this Ordinance are not immediately available and expenditure in respect of the project for which they were borrowed must be met, such expenditure shall be charged as an advance pending reimbursement and the maximum amount which may be so advanced in any financial year in connexion with any project shall be specified in the Second Schedule.
(3) The sums borrowed under this Ordinance and all interest and other charges thereon are hereby charged upon and shall be payable out of the general revenues and assets of Hong Kong.
6. (1) Notwithstanding anything contained in any other law, any agreement concluded with the Bank in respect of any borrowing authorized under this Ordinance and any bond, promissory note or other instrument issued pursuant to any such agreement and any undertaking given in respect of any such agreement, bond, promissory note or instrument by the Government shall be valid and enforceable and have full force and effect in accordance with their respective terms.
(2) The Governor may, by order published in the Gazette, provide for the remission of any tax, duty, charge or fee payable under any Ordinance in respect of any agreement, bond, promissory note, instrument or guarantee concluded with the Bank or issued in connexion with any borrowing authorized by this Ordinance or in respect of any payment of interest or otherwise under any such agreement, bond, promissory note, instrument or guarantee.
7. The Legislative Council may by resolution amend the Schedules.
FIRST SCHEDULE
[ss. 3 & 5.]
Item One
An amount in various currencies equivalent to twenty-one million five hundred thousand United States dollars (US$21,500,000) for the purposes of a project involving the construction of seawater desalting works consisting of six units having a total design output of 40 million gallons per day and to be located near Castle Peak in the New Territories. The project includes all supporting facilities and installations necessary to render the project operable.
Item Two
An amount in various currencies equivalent to twenty million United States dollars (US$20,000,000) for the purposes of a project which forms part of stage I of the sewerage and sewage treatment facilities for the Sha Tin New Town and involves the construction of (i) sewage treatment works; (ii) main pumping station; and (iii) laying of approximately 2000 metres of twin 1400 m.m. diameter rising mains. (Added, L.N. 236/75)
Item Three
An amount in various currencies equivalent to twenty million five hundred thousand United States dollars (US$20,500,000) for the purposes of a project involving the construction of two housing estates for some 61,000 persons and associated facilities, four primary and four secondary schools in the two estates, a general health clinic, a divisional fire station and a commercial complex for one of the housing estates at Sha Tin New Town. (Added, L.N. 100/77)