Kojonup and Dowerin Road Board Loans Validation Act 1926 (WA)

No. 58.] Kojonup and Dowerin Road Board [1926.

Loans Validation.

KOJONUP AND DOWERIN ROAD BOARD

LOANS VALIDATION.

17° GEo. V., No. LVIII.

No. 58 of 1926.

AN ACT to render valid certain Loans raised by the Kojonup

Road Board, and the Dowerin Road Board.

[Assented to 24th December, 1926.

Council and Legislative Assembly of Western Australia, inBE it enacted by the King's Most Excellent Majesty, byand with the advice and consent of the Legislative

this present Parliament assembled, and by the authority

of the same, as follows :-

Short title, 1.

This Act may be cited as the Ifojonup and Dowerin Road Board Loans Validation Act, 1926.

Ratification of 2.

(1) The loan of four thousand five hundred pounds contracted by the Kojonup Road Board pursuant to a

loans.

notice published in the Gazette on the nineteenth day of Sep-

tember, one thousand nine hundred and twenty-four, shall be lawful and binding on the said Road Board, notwith- standing that the provisions of Part VII. of the Road Districts Act, 1919, were not, in some respects, duly com- plied with ; and the debentures which have been issued in respect of such loan shall be a valid security for the repayment thereof, with interest.

(2) The loan of one thousand five hundred pounds, at interest at the rate of seven per centum per annum, contracted by the Dowerin Road Board pursuant to a

notice published in the Gazette on the fifteenth day of

February, one thousand nine hundred and twenty-four, shall be lawful and binding on the said Road Board, not- withstanding that in such notice the amount proposed to be borrowed was stated at one thousand three hundred pounds, and the rate of interest at six per centum per annum, and the debentures which have been issued in respect of such loan shall be a valid security for the re- payment thereof, with interest.