Loan Act 1990 (WA)

WESTERN AUSTRALIA

LOAN ACT

No. 65 of 1990

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

and seventy five million dollars for public purposes.

[Assented to 17 December 1990.]

The Parliament of Western Australia enacts as follows:

Short title

1. This Act may be cited as the Loan Act 1990.

Commencement

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

receives the Royal Assent.

No. 65] Loan Act [1990

Power to borrow money for public purposes

3.

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 seventy five million dollars as may be required for public purposes.

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.