Loan Act of 1865 No 2 No 15a (NSW)

No. V.

au tho r i t y of t h e same as follows :—

An Act to authorize the raising of a Loan of Three hundred thousand pounds upon the security of the Consolidated Revenues of the Colony to meet a like amount payable in Jan­ uary 1866 upon Debentures to fall due in that

month. [20th June, 1865.]

WHEREAS certain Deben tu re s heretofore issued by the Govern-

m e n t of t h e Colony for publ ic purposes a m o u n t i n g toge ther to t h e

sum of Three h u n d r e d thousand pounds will fall due in t h e m o n t h of

J a n u a r y in t h e year one thousand eight h u n d r e d and sixty-six and i t

is expedient to enable t he Gove rnmen t to raise a l ike a m o u n t for t he purpose of pay ing off t he same a t m a t u r i t y by t h e sale of new Debentures secured upon the Consolidated Revenues of t he Colony Be it therefore enacted by the Queen ' s Most Exce l len t Majesty by and wi th the advice a n d consent of t he Legislat ive Council and Legislat 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

1. I t shall be lawful for t he Governor w i th t he advice of t he
Execu t i ve Council to raise by the sale of Deben tu res secured upon the

Consolidated Revenues of t h e Colony and bear ing in teres t a t a r a t e

n o t exceeding five per c e n t u m per a n n u m the sum of Three h u n d r e d

t h o u s a n d pounds and falling due wi th in t en years from t h e pass ing of th i s A c t of which not less t h a n fifty t housand pounds shall be payable in t h e year one t housand e ight h u n d r e d a n d seventy- two and n o t less t h a n one h u n d r e d thousand pounds in each of t h e two following years for t h e purpose of pay ing off Deben tu re s to t h e l ike a m o u n t to fall

due in t h e m o n t h of J a n u a r y of t h e year one t housand e ight h u n d r e d

a n d sixty-six which have been issued as hereinaf ter more par t icu lar ly specified t h a t is to say—

S e w e r a g e ( 1 7 V i c . N o . 3 4 ) £ 9 7 , 5 0 0

W a t e r	S u p p l y	( 1 7	V i c . ; N o .	3 5 )	5 0 , 7 0 0
R a i l w a y s	( 1 8	V i c .	N o .	4 0 )	1 3 9 , 0 0 0

P u b l i c W o r k s ( 1 8 V i c . N o . 3 5 a n d 1 9 V i c . N o s . 3 S 4 0 ) . . . 1 2 , 8 0 0

£ 3 0 0 , 0 0 0

2. Al l sums borrowed unde r th i s A c t shall be paid to t h e Colonial Treasurer and shall be by h i m placed to t h e credi t of the Consolidated R e v e n u e F u n d to be appl ied for t h e purpose aforesaid and shall be accounted for in t h e same m a n n e r as if t hey h a d formed

p a r t of t he Cur ren t A n n u a l R e v e n u e of t h e Colony.

3 .    This A c t m a y be cited as t h e " L o a n Ac t of 18G5 No. 2 . "