Junee Water Supply Administration (Amendment) Act 1941 (NSW)

JUNEE WATER SUPPLY ADMINISTRATION

(AMENDMENT) ACT.

Act No. 35, 1941.

An Act to make further provision for the ad- ministration of certain works of water supply for the town of Junee and the Government Railways ; to amend the Junee Water Supply Administration Act, 1915-

1934, and certain other Acts; and for pur-

poses connected therewith. [Assented to,

18th September, 1941.]

lative Council and Legislative Assembly of New South BE it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legis-

Wales in Parliament assembled, and by the authority of the same, as follows :—

1 . (1) This Act may be cited as the "Junee Water Supply Administration (Amendment) Act, 1941."
(2) The Junee Water Supply Administration Act, 1915-1934, as amended by subsequent Acts, including this Act, may be cited as the "Junee Water Supply Adminis- tration Act, 1915-1941."

M 2 .

2. The Junee Water Supply Administration Act, 1915-

1934, as amended by subsequent Acts, is amended—

(a)	by omitting from subsection three of section eight the words "minimum sum of three thousand three hundred and seventy-five pounds irrespective of the quantity of water supplied" and by inserting in lieu thereof the words "minimum sum to be ascertained in such manner as may be agreed upon between the Administrator and the council, or in default of agreement, in such manner as may be prescribed by the regulations. Such minimum sum shall be so payable irrespective of the quantity of water supplied";
(b)	by omitting from section ten the word "Admin­ is trat ion" and by inserting in lieu thereof the
word "Work ing" ;
(c)	by omitting sections twelve and thirteen and by inserting in lieu thereof the following new sec­ tions :—

12. (1) The capital debt of the works which by this Act are directed to be maintained and administered by the Administrator, except the storage dam at Bethungra and the gravitation main thence to the service reservoir at Junee, is hereby declared to be the sum of two hundred and thirty-four thousand seven hundred and eighty-five pounds nine shillings and eleven pence as at the thirty-first day of December, one thousand nine hundred and thirty-nine, but may be added to or reduced as in this section pro­

vided.

(2) The Minister shall, as soon as prac­ ticable after the commencement of this Act, determine the amount by which the capital debt should be increased by reason of expenditure during the period of twelve months ending on the thirty-first day of December, one thousand nine hundred and forty, and thereafter as soon as practicable after the first day of January, one thousand nine hundred and forty-two, and after the same day in each succeeding year,

determine

determine the amount by which the capital debt should be increased or decreased by reason of expenditure or receipts during the period of twelve months immediately preceding.

The Minister shall notify in the Gazette the amount of such increase or decrease. Upon publication of such notification the capital debt shall be deemed to be altered accordingly, and such alteration shall take effect as from the date specified in the notification.

13. (1) An account shall be kept in the Special Deposits Account in the Treasury to be called the "Junee Water Supply Working Account," hereinafter referred to as the "Working Account."

(2) (a) There shall be credited to the Working Account all revenue received by the Administrator in pursuance of this Act, and such amounts as may from time to time be appropriated by Parliament for the purpose.

(b) There shall be debited to the Working Account the following charges, in the order set out hereunder:—

Firstly, the cost of administration, opera­ tion, repair and minor renewal by the Administrator of the works, exclusive of the Bethungra Dam and gravitation main.

Secondly, interest on the capital debt for any year at a rate or rates to be determined by the Colonial Treasurer, but not exceed­ ing the average rate payable during such

year by the Government for loan moneys. Thirdly, contributions to the Junee Water

Supply Renewal Reserve Account referred

to in section 13A of this Act.

Fourthly, such contributions to a sinking
fund as the Colonial Treasurer may direct.
(c) Any balance shall be applied in
reduction of the capital debt or towards the cost
of constructing the works or otherwise for any

purpose connected with the administration of

this Act as the Minister may direct.

The

The Minister shall notify in the Gazette the amount of any such reduction. Upon publica­ tion of such notification the capital debt shall be deemed to be altered accordingly and such alteration shall take effect as from the date specified in the notification.

13A. (1) An account shall be kept in the Special Deposits Account in the Treasury to be called the "Junee Water Supply Renewal Reserve Account" hereinafter referred to as the "Renewal Reserve Account."

(2) There shall be credited to the Renewal Reserve Account as soon as practicable after the first day of January in each year an amount calculated at a rate which shall be deter­ mined by the Colonial Treasurer on the capital debt as at the thirty-first day of December immediately preceding. For the purposes of this subsection the capital debt shall be deemed exclusive of any sinking fund contributions, and shall also be deemed to have been reduced by the sum of forty thousand three hundred and ninety-two pounds fifteen shillings and ten pence.

(3) The Renewal Reserve Account shall be credited half-yearly with interest on the daily credit balance at such rate as the Colonial Treasurer may from time to time direct.

(4) The Minister may invest the whole or

part of the balance at credit of the Renewal

Reserve Account in Commonwealth Govern­

ment securities or on fixed deposit with the
Colonial Treasurer.

Interest accruing from such investments or such deposit shall be regularly added to the Account and invested in like manner.

(5) The Renewal Reserve Account shall be drawn upon only for purposes of investment or re-investment or for renewing or replacing capital assets:

Provided

Provided that the Minister may authorise the expenditure of any balance at credit of such Account in excess of twenty-five thousand pounds towards extending the works, but sub­ ject to such conditions of repayment as the Colonial Treasurer may direct. Interest on any such expenditure shall be credited to the Account at the rate of four per centum per annum.

(6) If the Minister considers the amount at credit of the Working Account insufficient to meet the contribution referred to in subsection two of this section having regard to the charges referred to in subsection two of section thirteen of this Act, such contribution or portion thereof may be allowed to remain a charge on the Working Account.

Interest on the amount of the deferred con­ tribution at a rate to be approved by the Colonial Treasurer, shall be credited to the Renewal Reserve Account and debited to the Working Account for the period during which such contribution so remains a charge: Provided that if any such contribution be made on or before the thirty-first day of August in the year in which it becomes payable in accordance with subsection two of this section, no interest shall be credited or debited as aforesaid.

13B. When in any year the revenue received by the Administrator is insufficient to meet the charges referred to in subsection two of section

thirteen of this Act, the Colonial Treasurer may,
out of moneys provided by Parliament, pay to

the Working Account the amount of such

deficiency.

SOUTH-WEST