Loan Act of 1865 No 14a (NSW)

No. IV.

An Act to empower the Government to raise a Sum not exceeding Five hundred and fifty thousand pounds by the sale of Debentures.

[20th June, 1865.]

W H E R E A S it is expedient to empower t h e Gove rnmen t to raise

a sum of money no t exceeding Five h u n d r e d and fifty thousand pounds by the sale of Deben tu re s secured upon t h e Consolidated R e v e n u e F u n d Be i t therefore enac ted by the Queen ' s Mos t Exce l len t Majesty b y and wi th t he advice and consent of t h e Legis la t ive Council and Legis la t ive Assembly of N e w South W a l e s in P a r l i a m e n t assembled and by the au tho r i t y of t h e same as follows :—

1.    T h e Governor m a y w i t h t h e advice of t h e Execu t ive Council

raise from t ime to t ime in one or more s u m or sums towards defraying the expense of cer ta in services for t he year one thousand e ight hundred and sixty-four and previous years specified in certain Acts already passed a s u m no t exceeding Five h u n d r e d and fifty t housand pounds by t h e sale of Deben tu res bear ing in teres t a t t h e r a t e of no t more t h a n five per c e n t u m per a n n u m and falling due wi th in t en years from the pass ing of th i s Ac t of which no t less t h a n one h u n d r e d thousand pounds shall be payable in each year commencing in t h e year one thousand e ight h u n d r e d and sixty-seven and shall be pa id out of t he Consolidated R e v e n u e F u n d by the Colonial Treasurer in l iquida t ion and discharge of a l ike value of Deben tures falling due in each a n d every year.
2. A l l sums raised u n d e r th i s A c t shal l be paid to t he Colonial Treasurer and shal l be by h im placed to t h e credit of t h e Consolidated R e v e n u e Fund to be applied a n d accounted for as a pa r t of t h a t R e v e n u e .

3. This A c t may be cited as t h e " L o a n Ac t of 1865 . "