Government Bonds Act 1860 (SA)

ANNO VICESIMO TERTIO

V ICTORIE REGINB.

No. 2.

A12 Act to authorize the raising of Forty-six Thousand Pounds by

the scale o f Go vernrnent Bonds, and io provide hfor the expeuditzcre

of the same.

[Assented to, 19th June, 18r10.1

W HEREAS further sums of money, amounting to F O ~ I, ~ - S ~ X Prenmblc.

Thousand Pounds, are required for the completion of the South Australian Railways, and of the undertaking known as the Water-works, and it is expedient to raise such sums of money by tllc sale of bonds, in manner hereinafter provided-Be it therefore Enacted, by the Governor-in-Chief of the Province of South Aus- tmlia, with the advice and consent of the Legislative Csuncil and ITouse of Assembly of the said Provincc, in this present Parliament

assen~blecl, as follows:

said Province from time to time to issue bonds, not excecdiog £46,000. 1. I t shall be lawful for the Treasurer for the time being of the Tmrsurer to nim

in the whole the sum of Forty-six Thousand Pounds, for such amounts as he may deem expedient, and such bonds shall be in the

form fcllowing, that is to say :-

NO. NO. Foim of bond.

South Australian Government Revenue Securities.

(Railway, )

( Water-works, )

1, , the Treasurer of the Province of South

Australia, in consideration of the sum of the South Australian Railways (Adelaide Water-works j,

C do

do hereby bind myself to pav to the holder for the tiim

being of this present obligation, the sun1 of

Pounds, and interest thereon after the rate of Six

Pounds per cent. per annum; such interest to be pay-

able on the first day of January and the first day of

July in evtry year, and the principal to be paid on the

first day of , in the year 18 .

Sealed with my seal. Dated the day of'

9 18.

Signed, sealed, and delivered, in

the presence of 1

NOTE-Interest and principal payable at the Treasury in Adelaide, South Australia,, or (in London, or in any other agreed place, to be declared at the time of issue)

at such place as nlay be appointed, by notice to be

mivcn in the South Australian Govej wnent Gazette (and

?n the Lottdoa Gazette).

And every holder of any such bond for the time being sllnll be entitled to all rights and remedies under and in respect of the same, in the like man& as though ire had been ualneb tllerein as the obligee thereof.

Bonds to (ear interest

at 6 per cont.	2. The said bo~zds shall bear interest at the rate of Six Pounds per centum per annum, and tile interest aird principal upon such bonds shall be payablc and paid to the hddcr thereof at such place and at such time as may be specified or provided therein: Provided that the principal shul1"not h payable or pilid before the expiration
of two years nor after thc cxpiratiori of seveu years froill t l ~ c day
frorri which this Act shall take effect.
Moneys raised b y
bonds how appliod.	3. All sums of money raised alld received by the said Treasurer upon the security of the said botlds, shall be cnrried by the said Treasurer to the credit of the Genesal Revenue of the said Province for the purposes of this Act, and shall be by llim paid ~ a l d es- pended in such amonnt anri manner as the Governor, by m y
warrant under his hand, mxy authorize and direct.

.EI~,OOO t o be set 4. It &a!l be lawful for the said Trensurer, and hr is hereby

apart annually for

pwment ofprineipl	required, in each and every year, from the first raising of any sunis
and interest.	of money under tlzc authority hereof, until the wholc amounts so raised a i d all interest thereon shall have been duly paid, to sct apart the sum of Thirteen Tllousaud Pounds, or such lesser sun1 as shall suffice to pay the amount of bonds redeemable during such gear, together with interest up or^ all bonds which shall then bear interest, and shall apply such sum, in payment of such bonds aid interest na aforesaid, in maimer specified in such bouds.
Governor may sd-
vanrc moneys to be	5. I t shall be lawful for the Governor from time to time by war- rant under his hand to authorize the said Treasurer to advmce a d pay to the Commissioner of Railways or the Commissioner of Water- works rerrpectively, for the purposes of this Act, any sums of money
repaid.

1x0 t

not exceeding in the whole the sum of Forty-six Thousand Pounds, slid ally su&i of luollcy so advanced and paid shall be retained by

the said Treasurer out of the moneys authorized to be raised or

qplied by him under authority hereof.

6. The moueys raised by the sale of the said bonds shall be P ~ o ~ ~ ~ ~ ~ ~ ~ ~ ~ c ~

Bonds are issued. ,

expended in manner following, that is to say-For the completion

of'thtr South .4ust8ralian ~ a i l k a ~ s, any sums not exceeding *in the %

wllole the sun1 of Thirty-six Thousand Pounds; and for the corn- pletion of the Adelaide Water-works, ally sums not exceeding in the

whole the sum of Tell Thousand Pounds: Provided, that all sums PrOyima

received by the said Treasurer by way of premiums on the sale of such bonds, shall be paid to and applied for the purposes of the rcdeulption of and payment of interest on, the said bonds.

7. The said Treasurer slmll in each year, so long as any of the An account to llr.

lmnds issued uuder the authority of this Act shall remain unpaid, Parliament.	annually laid bof'are
prepare and lay before Parliament a full and true account of all nlouej*b raised and received by him under the a~~thori ty of this Act; and, also, a full and tme account of the manners ih which such moneys have been expended.

S. This Act sllall take effect from the 18th day of June,	1860.	Commencerncnt, of
Act.

9. This Act u~ay be cited as the C' The South Australian. Bond Short tide,

Act of 1860."

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Adclaide : Printed by authority by W. C. Cox,