Queensland Consolidated Acts Queensland Consolidated Acts(1) It shall be lawful for the trustees from time to time to raise any sum or sums of money, not exceeding the sum of $4000, and for that purpose to mortgage the showground or any part thereof to secure repayment of the moneys so raised with interest thereon.
(2) However, any moneys so raised shall be applied, firstly, in payment of any existing liabilities incurred in erecting buildings and making improvements in or upon the showground, and, in the next place, in and towards the erection of other buildings and making further improvements therein or thereon.
(3) In addition, any mortgagee of the showground shall not be called upon to see to the application of the mortgage moneys.