Loan Act 1950 (WA)

LOAN.

14 c and 15 Geo. VI., No. LXX I

No. 71 of 1950.

AN ACT to authorise the raising of a sum of Fourteen million three hundred and sixty-six thousand pounds by Loan for the construction of certain Public Works and Other Services.

[Assented to 5th January, 19511

Preamble.

WHEREAS it is expedient to authorise the raising, " by way of Loan of certain sums of money amounting in all to Fourteen million three hundred and sixty-six thousand pounds for the several purposes hereinafter mentioned: Be it enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of Western Australia in this present Parliament assembled, and by the authority of the same, as follows:—

Short title. 1. This Act may be cited for all purposes as the

Loan Act, 1950.

1950.] Loan. [No. 71.

2.    It shall be lawful for the Governor, from time .1'87 r—t2

to time, to raise by way of loan such several sums fpqr

of money, not exceeding in the whole the sum of Fourteen million three hundred and sixty-six thousand pounds, as may be required for the several works and purposes mentioned in the Schedule to this Act.

3.    All sums by this Act authorised to be raised ?,1,,T,gted.

shall be paid to the Treasurer, and shall be by him applied.

placed to the credit of an account, to be called the

General Loan Fund, and shall be applied by the

Treasurer to the purposes set forth in the said

Schedule in conformity with the annual estimates

of the expenditure of loan moneys sanctioned by

Parliament.

4.    The principal moneys, and interest thereon, !Mgr' "d

raised under the authority of this Act shall rank a°,,t;g,Vec'u

pan passu with the principal moneys and interest

raised and secured by the Stock created and sold under the Loan Act, 1891, and all subsequent Loan Acts, and are hereby charged upon and shall be payable out of the Consolidated Revenue Fund and Assets of the Government of Western Australia.

5.   The Governor may from time to time by Advance

under his hand authorise the Treasurer to

advance and apply to the purposes set forth in the Schedule to this Act any sums of money not exceed- ing in the whole the sum hereby authorised to be raised; and any sums of money so advanced and paid shall be retained by the Treasurer out of any moneys coming to his hands under the authority of this Act.

No. 71.] Loan. [1950.

THE SCHEDULE.

Provision.

Item

No. Work or Service.

Amount.

Total of

Group.

RAILWAY'S AND TRAMWAYS.

1 Additions and Improvements to Opened Railways .... 2,000,000

2 Rolling Stock .... 4,000,000

3 Tramways, Perth Electric 200,000

6,200,000

ELECTRICITY AND GAS SUPPLY.

4 Metropolitan Power Scheme and Gas Supply 1,000,000

5 South-West Power Scheme 500,000

1,500,000

HARBOUR AND RIVER IMPROVEMENTS.

6	Albany Harbour Works ....	250,000
7	Bunbury Harbour Works	300,000
8	Busse1ton Jetty Improvements ....	20,000

9 Fremantle Harbour Works .... 150,000

720,000

WATER SUPPLY AND SEWERAGE.

10 Water Supply for Towns Generally .... 100,000

11	Sewerage and Drainage, Perth and Fremantle	300,000
12	Sewerage for Country Towns	75,000
13	Metropolitan Water Supply	500,000

14	Goldfields Water Supply	1,000,000
15	Water Supply in Agricultural and North-West Districts

(including Drainage and Irrigation) .... 350,000

16 Murchison and Peak Hill Goldfields 3,000

2,328,000

DEVELOPMENT OF GOLDFIELDS AND MINERAL RESOURCES.

17	Development of Mining	275,000
18	Charcoal-Iron Production.	225,000

500,000

DEVELOPMENT OF AGRICULTURE.

19       Abattoirs, Cold Storage, Export Depot, Grain Sheds and

150,000

20 Development of Agriculture .... 75,000

21 Pine Planting, Purchase of Land and Forest Regeneration 300,000

525,000

PonLIc BUILDINGS, ETC.

22   1,000,000

23 Native Hospitals, Depots and Settlements .... 15,000

1,015,000

OTHER STATE UNDERTAKINGS.

24	State Brick Works	.	325,000
25	150,000
26	425,000

27	Bulk handling of Wheat—Provision of Facilities at Albany....	25,000
28	Bulk handling of Wheat—Provision of Facilities at Bunbury	3,000
29	Bulk handling of Wheat—Provision of facilities at Fremantle	35,000
30	Purchase of Plant—Suspense	600,000

1,563,000

DISCOUNTS, ETC.

31 Discounts and Flotation Expenses 15,000 14,366,000