Act No. 39, 1906.
An Act to authorise the raising of a Loan for
Public Works and Services, and for other
purposes. [18th December, 1906.]
| Assembly of New South Vales 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, 1906."
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.
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 of money not exceeding in the whole the amount of One million six hundred and eighty thousand eight hundred pounds, as arc respectively set against the following Public "Works and Services, that is to say :—
| SYDNEY | HARBOUR | T R U S T — |
| Towards cons t ruc t ion | of W o r k s general ly , and for the | improvement | of the | T o r t — |
| —fur the r | sum | * | £ 5 5 , 0 8 0 | 0 | 0 |
R A I L W A Y S —
| R o l l i n g | S t o c k | to | mee t | addi t ional | traffic | requi rements | . . . | . . . | . . . | . . . | 7 0 , 0 0 0 | 0 | 0 |
| Addi t ions | to | R a i l w a y | Lines , | Bui ld ings , | and | for | o ther | pur] | oses | . . . | . . . | . . . | 1 1 7 , 0 0 0 | 0 | 0 |
| T o | recoup | H a r b o u r | T r u s t | L o a n | V o t e | ( 1 9 0 5 - 6 ) | for | Gra in | J e t t y , | Da r l i ng | I s l and | . . . | 8 , 0 0 0 | 0 | 0 |
| Dev ia t ion | to | avoid | L i t h g o w | Zigzag | . . . | 2 5 , 0 0 0 | 0 | 0 |
TRAMWAYS—
| Addi t ions | to | L i n e s , | W o r k s h o p s , | and | Bui ld ings , | Dup l i ca t ion | of | L ines , | Wood- |
| blocking, | and | for | o the r | purposes | . . . | . . . | . . . | . . . | . . . | . . . | . . . | 5 0 , 0 0 0 | 0 | 0 |
RAILWAY CONSTRUCTION—
| Cen t r a l | R a i l w a y | S t a t i o n | and | Approaches—fur the r | sum | . . . | . . . | . . . | . . . | 5 0 , 0 0 0 | 0 | 0 |
| N a r r a b r i | to | AValgett, | wi th | B r a n c h | towards | Col l a rendabr i—fur the r | sum | . . . | . . . | 7 0 , 0 0 0 | 0 | 0 |
| M a n i l l a | to | B a r r a b a — f u r t h e r | sum | 7 0 , 0 0 0 | 0 | 0 |
| T e m o r a | to | B a r e l l a n — f u r t h e r | sum | . . . | . . . | . . . | . . . | . . . | . . . | . . . | 7 0 , 0 0 0 | 0 | 0 |
| B o g a n | G a t e | to | B u l b o d n e y — f u r t h e r | sum | 4 0 , 0 0 0 | 0 | 0 |
| D u b b o | to | Coonamble—fur the r | sum | . . . | . . . | . . . | . . . | . . . | . . . | . . . | 3 3 5 | 0 | 0 |
| E x t e n s i o n | of | R a i l w a y | a t | Necropol is | . . . | . . . | . . . | . . . | . . . | . . . | . . . | 5 , 6 3 5 | 0 | 0 |
| Mudgee | to | Dunedoo | R a i l w a y — P e r m a n e n t | Su rvey | . . . | . . . | . . . | . . . | . . . | 1 ,500 | 0 | 0 |
| B c l m o r c | Chapel | R o a d | R a i l w a y | 1 0 , 0 0 0 | 0 | 0 |
| N o r t h | Coas t | R a i l w a y | ( M a i t l a n d | to | Sou th | Gra f ton ) —towards | 5 0 , 0 0 0 | 0 | 0 |
| Car r ied | over | £ 6 9 2 , 5 5 0 | 0 | 0 |
| B r o u g h t | over | £ 0 9 2 , 5 5 0 | 0 | 0 |
TRAMWAY CONSTRUCTION-—
| T r a m w a y s | genera l ly | 7 0 , 0 0 0 | 0 | 0 |
SEWERAGE CONSTRUCTION—
| Newcas t l e | Sewerage—fur the r | sum | . . . | . . . | . . . | . . . | . . . | . . . | ••• | 3 0 , 0 0 0 | 0 | 0 |
| Met ropo l i t an | Sewerage | and | S t o r m w a t e r | Channels | genera l ly—fur the r | sum | . . . | 0 , 0 0 0 | 0 | 0 |
| Sewerage | Cons t ruc t ion | genera l ly | . . . | . . . | . . . | . . . | . . . | . . . | ••• | 1 .500 | 0 | 0 |
| I ' l l l awar ra Sewerage | S y s t e m | 1 5 , 0 0 0 | 0 | 0 |
| S t a n m o r e | R o a d | S t o r m w a t e r | C h a n n e l | 0 , 0 0 0 | 0 | 0 |
| SYDNEY | W A T E R | S U P P L Y — |
| Improvemen t s | to | the | Sydney W a t e r | Supply | and | S to rage Dam, C a t a r a c t | R i v e r , |
| including | L a n d | R e s u m p t i o n s — f u r t h e r | sum | . . . | . . . | . . . | . . . | . . . | 1 1 0 , 0 0 0 | 0 | 0 |
| METROPOLITAN | BOARD | OF W A T E R | SUPPLY | AND S E W E R A G E — |
| ( T o be carried | out by the | Hoard.) |
| E x t e n s i o n | and | I m p r o v e m e n t | of | Genera l | Re t i cu l a t i on , | purchase | of | wate r | meters , |
| R e s e r v o i r s | a t | R a n d w i c k , addi t ional | pumps, buildings, land, | surveys, and | minor |
| w o r k s - f u r t h e r | sum | " | 4 5 , 0 0 0 | 0 | 0 |
| Concre te | L i n i n g | and | S t r e n g t h e n i n g | U p p e r | Canal | - fu r the r | sum | . . . | . . . | . . . | 1 0 , 0 0 0 | 0 | 0 |
| R a i s i n g | and | L i n i n g | L o w e r | C a n a l — f u r t h e r | sum | . . . | . . . | . . . | . . . | . . . | 2 0 , 0 0 0 | 0 | 0 |
| Improved | W a t e r | Supply | for | R y d e | and | the | W e s t e r n | Suburbs | . . . | . . . | . . . | 1 8 , 8 5 0 | 0 | 0 |
Sewerage—
| Const ruc t ion | and | V e n t i l a t i o n | of | Re t i cu l a t i on | Sewers | Genera l ly , | Ci ty , | Nor the rn , |
| Eas t e rn , | and | W e s t e r n | Suburbs , | Lands , | Pumps , | R e l i e f | Sewers , Surveys , | and |
| minor | work | genera l ly—fur the r | sum | 9 0 , 0 0 0 | 0 | 0 |
| Sewage | F a r m — U n d e r d r a i n a g c — F l o o d | P reven t i on | W o r k s | . . . | . . . | . . . | . . . | 1 ,000 | 0 | 0 |
| H U N T E R | R I V E R | DISTRICT | W A T E R | SUPPLY | AND SEWERAGE | B O A R D — |
| Ret i cu l a t i on , | Newcas t l e | and | Suburbs—fur the r | sum. . . | . . . | . . . | . . . | . . . | 4 , 0 0 0 | 0 | 0 |
| W a l k a | Pumping | S t a t i o n — f u r t h e r | sum | . . . | . . . | . . . | . . . | . . . | 3 0 0 | 0 | 0 |
| W a r a t a h | R e s e r v o i r — C a r e t a k e r ' s | Co t t age | 4 0 0 | 0 | 0 |
| W e i r | across | H u n t e r | R i v e r | below | in t ake | . . . | . . . | . . . | . . . | . . . | . . . | 2 0 0 | 0 | 0 |
| Towards | 20-inch Main , | W a l k e n d | to | B u t t a i | 10 ,C00 | 0 | 0 |
| TOTAL, | W O R K S | AND SERVICES | £ 1 , 1 3 0 , 8 0 0 | 0 | 0 |
REPAYMENT OF LOANS—
| T o meet 4 per cent . F u n d e d | S t o c k fal l ing due | in Augus t , | 1 9 0 7 , issued under | L o a n |
| A c t | of | 1 9 0 0 | 5 5 0 , 0 0 0 | 0 | 0 |
| Grand Total | -S1,6S0,S00 0 0 |
4. The loans so authorised as aforesaid may be 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 be
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 1892, 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 be followed and used, mutatis mutandis, in connection with, Stock issued within New 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 laid 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 he 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 be 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 Pund. 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
and to the cancellation of discharged Bills shall apply to Treasury Bills and also of such Bills as are lost, burned, or otherwise destroyed,
Bills issued under this Act.
1 0 . All moneys borrowed under this Act shall be paid to tbe
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.
1 1 . 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
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.
1 2 . The following appropriation, authorised under the Loan Act,
1905, namely:—
| SECRETARY | FOR L A N D S — L o a n | to | Pas tu res | P r o t e c t i o n | B o a r d s | under |
| A c t | 1 1 1 of 1 9 0 2 , for the purchase of wire-net t ing | or o ther |
| ma te r i a l | and | p l an t | for | t he | des t ruc t ion | o f r abb i t s | . . . | . . . | £ 5 0 , 0 0 0 | 0 | 0 |
shall be applied to and available for the following service, namely :—
| SECRETARY | FOR L A N D S — F o r t he | purchase of | wire-net t ing | or | o ther |
mate r ia l and p l an t for the des t ruc t ion of r abb i t s , and to mee t charges and expenses connec ted therewi th , under sect ion 3 0 of