Loan Act 1954 (WA)

1954.] Loan. [No. 37.

LOAN.

3° Elizabeth II., No. XXXVII.

No. 37 of 1954.

AN ACT to authorise the raising of a sum of Fourteen Million Eight Hundred and Eight Thousand Pounds by loan for the construction of certain Public Works and Other Services and to fund the net accumulated Deficit in the Consolidated Revenue Fund at the 30th day of June, 1952, and to authorise the Re-appropria- tion of Certain Loan Moneys.

[Assented to 3rd December, 1954.]

WHEREAS it is expedient to authorise the raising, Preamble.

by way of Loan of certain sums of money amounting in all to fourteen million eight hundred and eight thousand pounds for the several purposes hereinafter mentioned: Be it enacted by the Queen'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:—

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

Loan Act, 1954.

No. 37.] Loan. [1954.

Power to

It shall be lawful for the Governor, from time to time, to raise by way of such loan several sums of money, not exceeding in the whole the sum of fourteen million eight hundred and eight thousand pounds, as may be required for the several works and purposes mentioned in the First Schedule to this Act.

raise money 2.

for certain

purposes.

Sums raised,

All sums by this Act authorised to be raised shall be paid to the Treasurer, and shall be by him placed to the credit of an account, to be called the General Loan Fund, and as to moneys raised under items one to forty inclusive, of the said Schedule shall be applied by the Treasurer to the purposes set forth in those respective items, in conformity with the annual estimates of the expenditure of loan moneys sanctioned by Parliament, and as to moneys raised under item number forty-one of the said Schedule, shall be applied by the Treasurer to the purposes specified in that item to meet the net accumulated deficit in the Consolidated Revenue Fund at the thirtieth day of June, one thousand nine hundred and fifty-two, in such amounts and manner as the Governor by any warrant or warrants under his hand may from time to time authorise and direct.

how to be 3.

applied.

Principal and

The principal moneys, and interest thereon, pan passu with the principal moneys and interest

interest 4.

charged on

Revenue.	raised under the authority of this Act shall rank
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.

Advances on

account. 5. The Governor may from time to time by

warrant under his hand authorise the Treasurer to advance and apply to the purposes set forth in the First Schedule to this Act any sums of money not exceeding 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.

1954.] Loan. [No. 37.

6. It shall be lawful for the Governor to Ilq-artyri-rom

appropriate out of the sums set forth in the Second and to. and to the items enumerated in the Third Schedule hereto, the sum of one million nine hundred and nine thousand two hundred and thirty-nine pounds thirteen shillings and threepence to be expended on the works and purposes named in the Third Schedule hereto.

First Schedule.

Provision.

I tem

No. Work or Service.

Total of

Amount. Group.

Railways.

1 Additions and Improvements to Opened Railways 3,200,000

2 Coogee-ICwinana, including Land Resumption and Survey 20,000

3 Rolling Stock 1,300,000

4,520,000

State Electricity COMM13SiOn.

4	Electricity Frequency Change, 40-50 Cycles	200,000
5	South-West Power Scheme	130,000

330,000

Public Works.

6	Abattoirs and Saleyards	150,000
Albany Harbour Works	140,000
8	Bulk Handling of Wheat—Provision of Facilities at Ports	10,000

9 Bunbury Harbour Works .... 20,000

10 Cockburn Sound Harbour Works .... 250,000

11       Country Areas and Towns Water Supply and Loans to Local

Authorities and Water Boards 1,200,000

12 Drainage and Irrigation 100,000

13 Geraldton Harbour Works .... 3,000

14	Improvements to Harbours and Rivers	80,000
15	Kwinana Area Development	220,000
16	Public Buildings, including furniture and equipment, new

buildings 1,500,000

17 Salaries and Incidentals 120,000

18 Sewerage for Country Towns .... 30,000

3,823,000

North-lVest.

19	Ord River Investigations and Surveys	3,000
20	Public Buildings, including furniture and equipment, new

buildings 78,000

21	Salaries and Incidentals	12,000
22	State Shipping Service	700,000
23	Sundry Works	150,000
24	Water Supplies and Loans to Local Authorities and Water

Boards . 60,000

1,003,000

Carried Forward .... 9,676,000

No. 37.] Loan. [1954.

First Schedule—continued.

Provision.

Item Work or Service.

-No Total of

Amount. Group.

£ £

Brought Forward .... ... 9,676,000

Metropolitan Water Supply, Sewerage and Drainage.

25 Metropolitan Water Supply .... .... 1,400,000

26	Salaries and Incidentals	...	...	110,000
27	Sewerage and Drainage ...	.	330,000

1,840,000

Mines.

28 Development of Mining ... 65,000

29 State Batteries ... 10,000

75.000

State Housing Commission.

30 Capital 1,800,000

1,800,000

Agriculture.

31 Development of Agriculture .... ... 95,000

95,000

Forests.

32 Pine Planting, Purchase of Land and Forests Regeneration 110,000

110,000

Native Affairs.

33 Native Hospitals, Depots and Settlements ... 10,000

10,000

Other State Undertakings.

34 Charcoal Iron and Steel Industry .... . 50,000

35	Fremantle Harbour Trust	....	400,000
36	State Brickworks	100,000

37	State Hotels	...	...	20,000
38	State Saw Mills	....	360,000

930,000

Sundries.

39       Transfer to 'a Trust Account to finance purchase of Type-

writers for Schools 2,000

2,000

Total, Works and Services .... 14,538,000

40 Loan Flotation Expenses and Discounts .... 50,000

41       Transfer to Consolidated Revenue Fund for purpose of

220,000

14,808,000

1954.]	Loan.	[No. 37.
Second Schedule.

Re-appropriation from, referred to in Section 6.

Original Amount on Amount Re-

No. Appropriation Work or Service to which originally Original appropriated

or Loan Appropriated. Loan under this

Act. Schedule. Act.

State Electricity Commission. £ s. d.

36 of 1946 Head Office Furniture and Equipment 2,000 1,500 10 0

35 of 1948 do. do. do. do. 2,000 2,000 0 0

Public Works.

2 62 of 1951 Purchase of Plant Suspense ... 400,000 290,000 0 0

Sundries.

3 68 of 1953 Assistance to Fishing Industry (Loss on

Guaranteed Accounts) 150,000 15,739 3 3

4 44 of 1940 Short term advances to meet Expenditure

pending the receipt of Revenue .... 272,000 170,000 0 0

40 of 1941 do. do. do. do. 20,000 20,000 0 0

67 of 1952 do. do. do. do. 4,000,000 1,410,000 0 0

1,909,239 13 3

Third Schedule.

Re-appropriation to, referred to in Section 6.

Amount

No. Work or Service to which now appropriated. re-appropriated under this Act.

£ s. d.

State Electricity Commission.

1 Metropolitan Power Scheme and Gas Supply 3,500 10 0

Public }Yorks.

2 Public Buildings, including furniture and equipment, new buildings .... 290,000 0 0

Other State Undertakings.

3 Rural and Industries Bank .... 1,600,000 0 0

Sundries.

4 Flotation Expenses and Discount .... 15,739 3 3

Total £1,909,239 13 3