Loan Act 1915 (NSW)
LOAN ACT.
Act No. 50, 1915.
| 1 . This Act may be cited as the "Loan Act, lt)15." |
| An | A c t | to au thor i se t h e ra is ing of a Loan for | Pub l i c |
W o r k s and Services, and for o the r purposes . [Assented to , 21st December , 1915.]
lative Council and Legislative Assembly of New fouth 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 :—
2 . I n this Act the expression " L o a n 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 Punded Stock.
3 . The Governor may, by the issue of Debentures or Stock, secured upon the Consolidated Revenue Fund, raise such sums of money, not exceeding in the whole the amount of Seven millions seven hundred and sixty- eight thousand eight hundred and fifty pounds, as are respectively set against the following Public Works and Services, that is to say :—
STATU TRAWLERS—
Towards construction of Trawlers, Establishment of Depots,
Motor Vehicles, Wharf accommodation £19,500 0 0
HOUSING BOARD—
For the Purchase or Resumption of Land, for the Erection of Buildings, and the Construction of Works, and for other costs and expenses under the Housing Act, 1912, the amount to be carried to the Housing Fund con stituted under the said Act
50,000 0 0
SYDNEY HARBOUR TRUST—
Towards construction of Works generally, and for the
improvement of the Port 376,300 0 0
Resumption of land at Jones' Bay, &c.—further sum 2,000 0 0
RAILWAYS—
Rolling-stock, to meet additional traffic requirements, and
equipment of New Lines 662,000 0 0
Additions to Railway Lines, Stations, and Buildings, and
for other purposes 407,000 0 0
Towards construction of Flemington to Belmore, and Wardell-road to Glebe Island, and Darling Island Railways—further sum
528,000 0 0
Rozelle Bay to Darling Island Railway 203,000 0 0
| TRAMWAYS— |
Additions to Lines, Workshops, Buildings, and Power
House, Duplication of Lines, and for other purposes... 240,000 0 0
RAILWAYS AND TRAMWAYS—
Purchase of Railway and Tramway Stores and Materials, which cannot properly be charged to appropriations of Parliament until actually issued for use—the amount to be carried to Special Deposits Account (Railway Store Advance Account)—further sum
200,000 0 0
INDUSTRIAL UNDERTAKING—
State Bakery—Establishment 4,000 0 0
Carried forward £2,691,800 0 0
Brought forward ... £2,691,800 0 0
SECRETARY FOR LANDS—MISCELLANEOUS—
For the Purchase of "Wire-netting or other Material and Plant for the destruction of Rabbits, under Section 30 of Act 111 of 1902, as amended by Section 16 of Act 20 of 1906—further sum ...
10,000 0 0
Advances to Settlers to assist them in tiding over tem porary financial difficulties consequent upon, the drought, or in other special circumstances
30,000 0 0
RAILWAY CONSTRUCTION—
North Coast Railway—further sum 400,000 0 0 Dunedoo to Coonabarabran—further sum, 80,000
0 0 Wagga Wagga to Tumbarumba—further sum 150,000 0 0 Forbes to Stockinbingal—further sum 100,000 0 0 Muswellbrook to Merriwa—further sum 80,000
0 0 Wyalong to Cudgellico—further sum 100,000 0 0 Tullamore to Tottenham—further sum 60,000
0 0 Barellan to Mirrool—further sum ... 50,000 0 0 Glenreagh to Dorrigo—further'sum 150,000 0 0 Cooma to Bombala—further sum ... 100,000 0 0 Sydenham to Botany—further sum... 20,000 0 o Dublin to Werris Creek — further sum 150,000 0 0 Condobolin to Broken Hill —further sum 100,000 0 0 Coonabarabran to Birren Junction 20,000
0 0 Gosford to Gosford Racecourse 12,000
0 0
METROPOLITAN RAILWAY CONSTRUCTION—
City Electric Railway and Bridge-yard Machinery—further
sum 150,000 0 o Eastern Suburbs Electric Railway—further sum ... 25.000 0 0 Western Suburbs Electric Railway—further sum... 25.000 0 0 City and Suburban Railways—Land resumptions and costs 200,000 0 o
TRAMWAY CONSTRUCTION—
Tramways generally—further sum 25,000 0 0
SEWERAGE CONSTRUCTION—•
Metropolitan Sewerage and Stormwater Channels—further
sum 7,000 0 0 further sum
10,000 0 0 Country Towns Sewerage and Stormwater Channels—
Newcastle Sewerage - further sum... 34,000 0 0 Long Ray Ocean Outfall—further sum 30,000 0 0
WATER SUPPLIES—
Country Towns Water Supplies—further sum 80,000 0 0 Hunter District Water Supply—Amplification 76,000 0 0
HARBouRs AND RIVERS—
Newcastle Harbour Improvements and Wharfage, including
Dredging and other plant—further sum 150,000 0 0 Port Kembla Improvements, Wharfage, and Shipping
Appliances—further sum 45,000 0 0 Coif's Harbour Improvements—further sum 17,000 0 0
Carried forward £5,477,800 0 0
F
Brought forward £5,477,800 0 0
HARBOURS AND RIVERS—continued.
Richmond River Improvements—further sum 5,000 0 0 Clarence River Improvements—further sum 4,000 0 0 Tweed River Improvements—further sum... 4,000 0 0 Nambueea River Improvements—further sum 6,000
0 0 Cook's River—Portable Dredge 2,000
0 0 Government Dockyard, Newcastle—Extension, including Munition Factory—further sum 125,000 0 0 Newcastle Floating Dock—further sum 87,000 0 0
BRIDGES—
Bridges generally 10,000 0 0 Sydney Harbour Bridge 10,000 0 0
PUBLIC BUILDINGS—•
New Offices, Department of Agriculture—towards 50,000 0 0 Treasury Buildings—Additions 10,000 0 0 Central Railway Station—Completion of Railway Offices— towards ... 50,000 0 0 Caves Houses and Tourist Resorts generally 25,000 0 0
INDUSTRIAL UNDERTAKINGS—
State Metal Quarries—further sum.. 20,000 0 0 State Motor Garage . 250 0 0
MEAT INDUSTRY AND ABATTOIR BOARD—
New Public Abattoir and other Works at Homebush Point, Meat Distributing Depot, Pig and Calf Market, Sale Yards, Meat Export and other Works and Build ings, including Land Resumption and Costs ...
200,000 0 0
MISCELLANEOUS—
Purchase of Stores and Materials which cannot properly be
charged to appropriations of Parliament until actually
issued for use—the amount to be carried to SpecialDeposits Account (Government Dockyard and New castle Workshops Store Advance Account)—further
sum 50,000 0 0 Advance to meet General Expenses, Commission, and other charges payable under the agreement with Messrs. Norton Griffiths & Co. in connection with the carrying out of Public Works, to be hereafter adjusted by transfer of payments to the specific Public Works to which the amounts are properly chargeable ...
100,000 0 0
Purchase of Stores and Materials which cannot properly be charged to appropriations of Parliament until actually issued for use—the amount to be carried to Special Deposits Account (Norton Griffiths & Co., Store Advance Account)
100,000 0 0
Carried forward £6,336 050 0 0
Brought forward £6,336,050 0 0
METROPOLITAN BOARD OF WATER SUPPLY AND SEWERAGE—
Water Supply—
General Reticulation, Improvements, &C, including
Sydney Water Supply, Amplification—further sum ... 650,000 0 0 Sewerage—
Construction and Ventilation of Sewers generally—•
further sum 200,000 0 0
HUNTER DISTRICT BOARD OF WATER SUPPLY AND SEWERAGE—
Water Supply—
Extension of Reticulation—further sum 18,000 0 0 Improvements and other Works—further sum 21,000 0 0 Amplification—towards 5,000 0 0 Sewerage—
Extension and Reticulation—further sum 6,000 0 0 Miscellaneous—
New Offices, Workshops, &c. 15,000 0 0
Purchase of Stores and Materials, which cannot properly be charged to appropriations of Parliament until actually issued for use—the amount to be carried to Special Deposits Account (Hunter District Water Supply and Sewerage Hoard Store Advance Account)— further sum
2,000 0 0
SECRETARY FOR MINES—MISCELLANEOUS—
State Collieries Establishment, including resumptions 20,000 0 0 Great Cobar, Limited—Receiver's Certificates taken up by the New South Wales Government 10,000 0 0
AGRICULTURE—
For the promotion of Agriculture, Agricultural Colleges,
and Experiment and Demonstration Farms ... 50,000 0 0 Purchase of Site for Horsebreeding Farm and Improve
ments 60,000 0 0 Compensation for the Resumption of the Mullah Scrub
Lease, Trangie ... 7,500 0 0
WATER CONSERVATION AND IRRIGATION COMMISSION—
For the construction of Burrinjuck Dam, Murrumbidgee
Canals, Purchase of Stock, Assisting Settlers, Payment
of Tenant-rights, &c. 165,000 0 0 Shallow boring—To provide Water Supplies for Settlers... 18,300 0 0
Murrumbidgee Irrigation Areas—Working Account and for Purchase of Stores, Building Materials, &c, which cannot properly be charged to appropriations of Parliament, until actually issued for use ; to recoup the Loan Vote—the amount to be carried to Special Deposits Account (Murrumbidgee Irrigation Areas Working Account)
155,000 0 0
Total, Works and Services £ 7 , 7 6 8 , 8 5 0 0 0 4 . The Loans so authorised as aforesaid may he negotiated wholly or in part in the form of Debentures or 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 pur chasable 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 the Inscribed Stock (Issue and Renewals) Act, 1912, and the forms prescribed in the said regulations, are hereby declared to be applic able to, and shall be followed and used, mutatis mutandis, in connection with Stock issued within New South Wales under this Act.
(2) I n respect of any Stock issued in London under the provisions of this Act, the Governor may make regulations, not being inconsistent with the pro visions 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 Par liament be then sitting, and it' Parliament be not sitting, then within fourteen days of the commencement of the next session thereof.
7 . Pending the issue of Debentures or Stock under
the authority of this Act, the Governor may, by theissue of Treasury Bills secured upon the Consolidated
in the whole the amount of moneys authorised to be Revenue Fund, raise such sums of money not exceeding raised under this Act. Such Treasury Bills 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 on the maturing of such Bills. 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 cancellation 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 other wise destroyed, and to the cancellation of discharged Bills, shall apply to Treasury Bills issued under this Act.
1 0 . All moneys borrowed under this 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.
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 cor porations 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 otherwise, which they are not expressly forbidden to invest in Government Stock or Securities, without on that account being liable forbreach of trust and without incurring any liability whatsoever, provided that such investment is in other respects reasonable and proper.
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