Loan Act 1955 (WA)

No. 56.] Loan. [1955.

LOAN.

4° Elizabeth II., No. LVI.

No. 56 of 1955.

AN ACT to authorise the raising of a sum of Eleven Million Six Hundred and Four Thous- and Pounds by loan for the construction of certain Public Works and Other Purposes and to further define the application of certain moneys raised under the Loan Act, 1954, and to authorise the Re-appropriaeon of Certain Loan Moneys.

[Assented to 9th December, 1955.]

Preamble. WHEREAS it is expedient to authorise tilt raising,

" by way of Loan of certain sums of money amounting in all to eleven million six hundred and four 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

1955.] Loan. [No. 56.

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, 1955.

2.    It shall be lawful for the Governor, from time 1.1.r.t(Ly

to time, to raise by way of such loan several sums ;;;T:otaln

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

3.    All sums by this Act authorised to be raised aTitir

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, MI::la 1 and

raised under the authority of this Act shall rank PeVetc,Vn

pari passe 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 Astralia.

5.   The Governor may from time to time by Urn

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.

No. 56.] Loan. [1955.

Further

defining of	6.	The moneys raised under the provisions of the
application

of certain	Loan Act, 1954, for the purpose specified in item
moneys
raised under	number forty-one of the First Schedule to that Act
the Loan
Act, 1954.	shall after the application of the sum of sixty thousand and sixty-eight pounds nine shillings and one penny to fund the net accumulated deficit in the Consolidated Revenue Fund at the thirtieth day of June, one thousand nine hundred and fifty-two be applied towards funding any deficits in the said Fund that have accrued or may accrue in any sub- sequent year.
Re-appro-

It shall be lawful for the Governor to appropriate out of the sums set forth in the Second Schedule hereto, from the items therein set forth, and to the items enumerated in the Third Schedule hereto, the sum of three hundred and fifty thousand pounds to be expended on the works and purposes named in the Third Schedule hereto.

priation from 7.

and to.

First Schedule.

Provision.

Item Work or Service.

No. Total of

Amount. Group.

Railways.

1 Additions and Improvements to Opened Railways 1,750,000

2 Coogee-ICwinana, including Land Resumption and Survey 10,000

3 Rolling Stock .... 850,000

2,610,000

Slate Electricity Commission.

4	Electricity Frequency Change, 40-50 Cycles	50,000
5	Metropolitan Power Scheme and Gas Supply	600,000

6 South-West Power Scheme .,.. 50,000

700,000

Public Works.

7	Abattoirs and Saleyards	30,000
8	Albany Harbour Works	50,000
9	Bunbury Harbour Works	50,000
10	Country Areas and Towns Water Supply and Loans to Local

Authorities and Water Boards 1,000,000

Drainage and Irrigation 220,000

12       Public Buildings, including furniture and equipment, new

buildings 750,000

13	Salaries and Incidentals	160,000
14	Sewerage for Country Towns	60,000

2,320,000

Carried forward ...

5.030,00"

1955. ] Loan. [No. 56.

First Schedule—continued.

Provision.

Item	Work or Service.
No.

Amount. Total of Group.

Brought forward 5,630,000

North-West.

15	Ord River Investigations and Surveys	6,000
16	Public Buildings, including furniture and equipment, new

buildings 90,000

17 Salaries and Incidentals 8,000

18 State Shipping Service . 600,000

10       Water Supplies and Loans to Local Authorities and Water

Boards 80,000

784,000

Metropolitan Water Supply, Sewerage and Drainage.

20	Metropolitan Water Supply	....	9be,000
21	Salaries and Incidentals	100,000
22	Sewerage and Drainage ....	225,000

1,225,000

Mines.

23 Development of Mining 120,000

24 State Batteries ... 20,000

140,000

State. Housing Commission.

25 Capital 2,000,000

2,000,000

Agriculture.

26 Development of Agriculture .... 60,000

60,000

Forests.

27 Pine Planting, Purchase of Land and Forests Regeneration 100,000

100,000

Other Slate Undertakings.

28 Charcoal Iron and Steel Industry .... 20,000

29	Fremantle Harbour Trust	...	200,000
30	Rural and Industries Bank	..	600,000

31       Rural and. Industries Bank—Delegated Agencies (Industrial

10,000

32   10,000

33 State Saw Mills .... 70,000

910,000

Sundries.

34 Cockburn Cement Pty., Ltd., Industry (Advances) Act, 1947 500,000

500,000

Tnta 1 Works and Services .... 11,349,000

35	Loan Flotation Expenses and Discounts	175,000
36	Transfer to I.onsmidated Revenue Fund for purpose of

80,000

11,604,000

No. 56.] Loan. [1955.

Second Schedule.

Re-appropriation from, referral to in Section 7.

Original Amount on Amount Re-

No. Appropriation Work or Service to which originally Original appropriated

or Loan Appropriated. Loan under this

Act. Schedule. Act.

Pahlic Works.

1 71 of 1950 Purchase of Plant Suspense ... 600,000 90,000

62 of 1951 do. do. 400,000 10,000

North,-West.

2 37 of 1954 Sundry Works .... 150,000 150,000

Metropolitan Water Supply, Sewerage and

Drainage.

3 68 of 1953 Metropolitan Water Supply—liMinana Area 750,000 100,000

Total 350,000

Third Schedule.

Re-appropriation to, referred to in Sectio

Amount

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

Public Works.

1 Public Buildings, including furniture and equipment, new buildings 100,000

North-West.

2 State Shipping Service ... •... 150,000

Metropolitan Water Supply, Sent Drainage.

3 Metropolitan Water Supply ... 100.000

Total 350,000