Act No. 36, 1905.
An Act to authorise the raising of a Loan for
Public Works and Services, and for other
| purposes. | [9th December, | 1905.] |
| 3. The Governor may, by the issue of Debentures or Inscribed Stock, secured upon the Consolidated Revenue Fund, and bearing interest at a rate not exceeding four per centum per annum, raise such | sums |
| Assembly of New South Wales in Parliament assembled, and by the | BE it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative |
| authority of the same, as follows :— |
1. This Act may be cited as the "Loan Act, 1905."
2. In this Act the expression " Loan Service " has the meaning
given to it in the Audit Act, 1902 ; "Treasurer" means the Colonial Treasurer for the time being; and " Stock " means Inscribed or Funded Stock.
sums of money not exceeding in the whole the amount of Nine hundred and sixty- eight thousand four hundred and thirty pounds, as are respectively set against the following Public Works and Services, that is to say :—
| FIRE | B R I G A D E S |
| Towards purchase of Sites and erection of Branch and Suburban Sta t ions | further | |
| SYDNEY HABOUR at | T R U S T |
| Towards construct ion of new Berthing | Accommodation, | new Je t t i es , Sheds, &c. ; |
new Pun t s for D r e d g e s ; general reconstruction of W h a r f s a n d J e t t i e s ; new Shops and Workmen ' s Dwellings ; and generally for the improvement of the
| Por t | fur ther sum | ... | . . . | ... | 30,000 | 0 | 0 |
| Erect ion of Gra in J e t t y , Darling Harbour | 25,000 | 0 | 0 |
R A I L W A Y S —
| Grain Sheds a n d Rai lway Connections, | Darling H a r b o u r | ... | . . . | . . . | . . . | 20.000 | 0 | 0 |
| Hulling Stock to meet addit ional traffic requirements | ... | . . . | ... | . . . | 30,000 | 0 | 0 |
| Addi t ions to Rai lway Lines, Buildings, and for other purposes | ... | ... | . . . | 35,000 | 0 | 0 |
T R A M W A Y S
| Addi t ions to Lines, Workshops, and Buildings, and for o ther purposes to meet the requirements of Traffic | ' | 20,000 | 0 0 |
| Rolling Stock to meet traffic congestion in cer ta in directions | ... | . . . | . . . | 15,000 | 0 | 0 |
| SECRETARY | FOR | L A N D S — |
| Loan to Pas tu res Protect ion Boards, under A c t No 111 of 1902, for the purchase of Wire -ne t t ing or other Material and P l a n t for the des t ruc t ion of rabbi t s | ... | 50,000 | 0 | 0 |
| Centra l Rai lway Stat ion | fur ther sum | 50,000 | 0 | 0 |
Central Rai lway Stat ion and approaches, Surplus Land Resumpt ions and Cos ts—
| Narrabr i to W a l g e t t with Branch towards Col la rendabr i—fur ther sum | ... | . . . | 50,000 | 0 | 0 |
| Manilla to B a r r a b a — f u r t h e r | sum | 18,000 | 0 | 0 |
| Temora | to B a r e l l a n - | fur ther | sum | ... | . . . | . . . | . . . | . . . | ... | . . . | 55,000 | 0 | 0 |
| Bogan Gate to Bulbodney—fur ther sum | 21,000 0 0 |
| N o r t h Coast Rai lway (Mai t land to South Grafton) | -Final Survey for route and |
| est imate of cost | 5,000 | 0 | 0 |
TRAMWAY CONSTRUCTION—
| Tramways generally | ... | . . . | . . . | . . . | ... | . . . | . . . | . . . | . . . | 1,800 | 0 | 0 |
| GOVERNMENT | A R C H I T E C T — |
| Pen i t en t i a ry and Prison fur Females—fur ther | sum | ... | ... | . . . | . . . | . . . | 13,000 | 0 | 0 |
| Univers i ty , | F isher L ib r a ry—fur the r | sum | ... | ... | ... | . . . | . . . | . . . | 5,000 | 0 | 0 |
| Mitchell L ib ra ry—towards | 15,000 | 0 | 0 |
| Pr ince Alfred Hosp i ta l Pavi l ions—fur ther sum | 1,000 | 0 | 0 |
| Sydney Hosp i t a l—Rebui ld ing South W i n g | 2,500 | 0 | 0 |
| Admira l ty Victual l ing Stores | towards | 10,000 | 0 | 0 |
| Buildings', Martin Place | 15,000 0 0 |
Burnous
| Pyrmont (Land Resumptions and Costs) | fur ther sum | ... | . . . | ... | . . . | 1,400 | 0 | 0 |
| H u n t e r River, a t Dunolly Ford, S ingle ton—fur ther sum | ... | ... | . . . | . . . | 1,500 | 0 | 0 |
| South Arm, Clarence River, at Maclean | fur ther sum | ... | ... | . . . | ... | 1,700 | 0 | 0 |
| Hawkesbury River, at Richmond | completion of | ... | ... | ... | ... | ... | 225 0 0 |
| Has t ings River , a t Cameron Falls | 6,000 | 0 | 0 |
| Carried over | £541,125 0 0 |
| Brought | over | . . . | . . . | . . . | . . . | . . . | £541 ,125 | 0 | 0 |
| H A R B O U R S | AND | R I V E R S — |
| Richmond | Rive r | Improvements — fur ther | sum | . . . | . . . | . . . | . . . | 5,000 | 0 | 0 |
| Clarence | River | Improvements | -further | sum | .. . | . . . | . . . | . . . | . . . | . . . | 2 000 | 0 | 0 |
| Bellinger | R ive r | Improvement s—fur the r | sum | ... | . . . | . . . | . . . | 3, | 085 | 0 | 0 |
| Newcastle | H a r b o u r | Breakwater— | fur ther | sum | ... | . . . | . . . | . . . | . . . | 25,000 | 0 | 0 |
| Po r t Kembla Harbour improvements , including Land Resumption | fur ther sum. . . | 15000 | 0 | 0 |
| Whar f | Extension — Woolloomooloo, Land Resumpt ion and Costs | . . . | . . . | ... | 8,000 | 0 | 0 |
| SEWERAGE | C O N S T R U C T I O N — |
| Storm-water | Sewer, | Sir J o h n | Young 's | Crescent, | Woolloomooloo | . . . | . . . | . . . | 1,800 | 0 | 0 |
| Lismore | Sewerage—fur ther | sum | .. . | . . . | . . . | ... | . . . | . . . | 2 900 | 0 | 0 |
| P a r r a m a t t a | Sewerage—towards | . . . | . . . | ... | . . . | . . . | . . . | . . . | 10,000 | 0 | 0 |
| COUNTRY | TOWNS | W A T E R | S U P P L Y — f u r t h e r | sum | . . . | . . . | . . . | . . . | . . . | . . . | 15,000 | 0 | 0 |
| SYDNEY | W A T E R | S U P P L Y — |
Improvements to t he Sydney Wate r Supply and Storage Dam. Cataract River,
| including | L a n d | Resumpt ions—fur the r | sum | .. . | . . . | . . . | . . . | . . . | 60,000 | 0 | 0 |
| Catchment, Area - Lund | Resumptions and Costs | further sum | .. . | ... | . . . | 10,000 | 0 | 0 |
| R E S E R V O I R | AT | W A R A T A M — f u r t h e r | s u m . . . | . . . | . . . | . . . | . . . | . . . | . . . | 250 | 0 | 0 |
METROPOLITAN BOARD OF W A T E R SUPPLY AND SEWERAGE —
Extension and Improvement of General Reticulat ion, including the Conversion of
| Ball H y d r a n t s | into | Spring | Valve | H y d r a n t s , purchase | o f W a t e r | Meters | and |
| Minor | W o r k s — f u r t h e r | sum | ... | . . . | . . . | . . . | ... | . . . | . . . | 58,000 | 0 | 0 |
| Re-lining and | S t reng then ing | Upper | and | Lower Cana ls—fur ther | sum | . . . | . . . | 36,000 | 0 | 0 |
| Improvements | to | Nor the rn | Suburbs | W a t e r | Supply | . . . | . . . | . . . | . . . | . . . | 63,000 | 0 | 0 |
| By-Pass, | Po t t s ' | Hill | Reservoir, | &c. | ... | . . . | ' | . . . | . . . | . . . | . . . | . . . | 1,800 | 0 | 0 |
Construct ion and Venti lat ion of Ret icula t ion Sewers Generally in connection with
| approved | Scheme —fur ther | sum | .. . | . . . | . . . | . . . | . . . | . . . | 21,000 | 0 | 0 |
| Western | Suburbs, | Relief | Sewers | . . . | . . . | . . . | . . . | . . . | . . . | . . . | 5,000 | 0 | 0 |
| Rel ieving Storm water | Channel , | Baptist-street | Redfern | ... | . . . | . . . | . . . | 3,000 | 0 | 0 |
| H U N T E R | R I V E R | D I S T R I C T | W A T E R | S U P P L Y | AND | SEWERAGE | BOARD | - |
| Reticulat ion, | Newcast le | and | Suburbs —further | sum. . . | . . . | . . . | . . . | . . . | 1,000 | 0 | 0 |
| W a l k a | P u m p i n g | S ta t ion - | fur ther | sum | . . . | . . . | ... | . . . | . . . | . . . | 5,000 | 0 | 0 |
| Extens ion | of | W a t e r | Supply | to | Ash | Island | . . . | . . . | . . . | . . . | . . . | . . . | 2,250 | 0 | 0 |
| Extens ion of | W a t e r Mains to Abermain | 2,220 | 0 | 0 |
| School Buildings, Residences, Addi t ions and | Si tes—fur ther | sum | .. . | . . . | . . . | 20,000 | 0 | 0 |
| M I N K S | AND | A G R I C U L T U R E — |
| F o r the promotion o f Agricul ture , Agricul tural | Colleges, and | Exper imenta l | Farms, | &c, | 10,000 | 0 | 0 |
| Addi t ions to Cave | House | Jenolan , and necessary rebuilding o f exis t ing premises . . . | 5,000 | 0 | 0 |
4. The loans so authorised as aforesaid may he negotiated wholly or in part in the form of Debentures or Inscribed Stock in New South Wales or in London at such times and for such amounts and for such periods as may be directed by the Governor.
5. Any stock issued in New South Wales under this Act shall he styled " New South Wales Funded Stock," and shall, if sold otherwise than by tender, be purchasable at the Treasury upon any lawful day.
6. (1) The provisions of the Funded Stock Act of 1802, relating to the method of inscription and transfer of Stock, and the regulations under such Act, and the forms prescribed in the said regulations, are hereby declared to be applicable to, and shall he followed and used, mutatis mutandis, in connection with, Stock issued within Mew South Wales under this Act.
(2) In respect of any Stock issued in London under the provisions of this Act, the Governor may make regulations, not being inconsistent with the provisions of the Inscribed Stock Act, 1902, for carrying this Act into effect; and such regulations shall be published in the Gazette and lead before Parliament within fourteen days of the publication thereof, if Parliament be then sitting, and if Parliament be not sitting, then within fourteen days of the commencement of the next session thereof,
7. (1) Pending the issue of Debentures or Inscribed Stock under the authority of this Act, the Governor may, by the issue of Treasury Bills, raise such sums of money not exceeding in the whole the amount of moneys authorised to be raised under this Act.
(2) Such Treasury Bills shall bear interest at a rate not exceeding four pounds per centum per annum, and shall have such currency, not exceeding five years, as the Governor may direct.
8. The principal moneys for which such Treasury Bills may be
made out shall he chargeable on and payable out of the General Loan
| Account, and, so far as funds are not on the maturing of such Bills | available for such payment out of the said Account, such moneys shall |
| be chargeable on and payable out of the Consolidated Revenue Fund. The interest on such Treasury Bills shall be chargeable on and payable out of the Consolidated Revenue Fund. |
| 9. The provisions of the Treasury Bills Act, 1902, relating to the making out, signing, numbering, dating, and to the amounts of the Treasury Bills authorised by that Act to be issued, and to the cancella tion of defaced Treasury Bills and the issue of new Bills in lieu of such Bills and also of such Bills as are lost, burned, or otherwise destroyed, and to the cancellation of discharged Bills shall apply to Treasury Bills issued under this Act. |
10. All moneys borrowed under tins Act shall be paid to the Treasurer and shall be by him carried to and form part of the General Loan Account, and be appropriated and applied, as required, to the works and services hereinbefore specified, or to any other duly authorised Loan Service, in terms of the Audit Act, 1902.
11. Debentures, Stock, or Treasury Bills sold or issued under
this Act are hereby declared to be for all purposes Government Securities ; and all corporations and other persons whatsoever shall have power to invest in the purchase of such Debentures, Stock, and Treasury Bills any property held by them, whether as trustees or other wise, which they are not expressly forbidden to invest in Government Stock or Securities, without on that account being liable for a breach of trust and without incurring any liability whatsoever, provided that such investment is in other respects reasonable and proper.