Loan Act 1988 (WA)

WESTERN AUSTRALIA

LOAN ACT

No. 73 of 1988

AN ACT to authorize the borrowing of a sum of one hundred and

eighty million dollars for public purposes.

[Assented to 23 December 1988.]

The Parliament of Western Australia enacts as follows:

Short title

1. This Act may be cited as the Loan Act 1988.

Commencement

2. This Act shall come into operation on the day on which it receives

the Royal Assent.

No. 73] Loan Act [1988

Power to borrow money for public purposes

It shall be lawful for the Governor, from time to time, to borrow sums of money, including borrowings from the Western Australian Treasury Corporation, not exceeding in the aggregate the sum of one hundred and eighty million dollars as may be required for public purposes.

3.

How sums borrowed to be applied

4.     All sums authorized by this Act to be borrowed shall be paid to the

Treasurer and shall be credited to the General Loan and Capital Works

Fund.

Principal, interest etc. payable out of

Consolidated Revenue Fund

5.     The principal moneys, interest and other expenses of borrowings

under the authority of this Act shall be payable out of the Consolidated

Revenue Fund which is appropriated accordingly.