LOAN
(No. 1).
No. 2 of 1925.
An Act to authorize the Raising and Expending
of certain Sums of Money.
[Assented to 29th June, 1925.]
BE it enacted by the King’s Most Excellent
Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia,
as follows:—
Short
title.
1. This Act
may be cited as the Loan Act (No. 1) 1925.
Authority
to borrow £2,150,000.
2. The
Treasurer may from time to time under the provisions of the Commonwealth Inscribed Stock Act 1911–1918,
or under the provisions of any Act authorizing the issue of Treasury Bills,
borrow moneys not exceeding in the whole the amount of Two million one hundred
and fifty thousand pounds.
Purpose
for which money may be borrowed.
3. The
amount borrowed shall be issued and applied only for the expenses of borrowing
and for the purposes of appropriations made or to be made by law.
Issue
and application of £2,086,000.
4. There
may be issued and applied out of the proceeds of any Loan raised under the
authority of any Loan Act, including the present Act, the sum of Two million
and eighty-six thousand pounds for the purposes set forth in the Schedule to
this Act.
SCHEDULE.
—
UNDER THE CONTROL OF
THE HOME AND TERRITORIES DEPARTMENT, THE DEPARTMENT OF WORKS AND RAILWAYS,
AND THE HEALTH DEPARTMENT.
| £ |
Works, Services, and
Acquisition of Land in Federal Capital Territory (All receipts from the
Federal Capital Territory to be credited to this vote.)
| 86,000 |
UNDER
THE CONTROL OF THE POSTMASTER-GENERAL’S DEPARTMENT.
Construction and extension of telegraphs and telephones, also
construction of conduits and laying wires underground........................................................................................
| 2,000,000 |
Total................. | £2,086,000 |