Loan Act of 1898 (NSW)

Case
No judgment structure available for this case.

Act No. 36, 1898.

An Act to authorise the raising of a Loan for

the Public Service of the Colony, and for

other purposes. [23rd December, 1898.]
BE it enacted by the Queen's Most Excellent Majesty, by and with Assembly of New South Wales in Parliament assembled, and by the the advice and consent of the Legislative Council and Legislative authority of the same, as follows :—
1. I t shall be lawful for the Governor to raise by the sale of Debentures or the issue of Stock, secured upon the Consolidated Revenue Fund of the Colony, and bearing interest at a rate not exceeding four par centum per annum, such sums of money not exceeding in the whole the sum of Two million two hundred and thirty-three thousand five hundred and thirty-seven pounds, as are respectively set against the following Public Works and Services, that is to say :—

Towards the Duplication of portion of existing Railway Lines, and Works in connection therewith

£50,000 0 0

PERMANENT AND REPRODUCTIVE WORKS.

RAILWAYS—

Brought, over £50,000 0 0

R A I L W A Y S — c o n t i n u e d .

Brough t over £50,000 0 0
Towards I m p r o v e m e n t s of Grades and Curves
—further sum 100,000 0 0

Addit ions to Rai lway Lines, Sta t ions , Buildings,

W o r k s h o p s ; for Rolling Stock, and for other
purposes, including Safety Appliances . . . 150,000 0 0
300,000 0 0

T R A M W A Y S —

Addit ions to Workshops and Buildings, and for

o ther purposes, including Duplicat ion of

p a r t of existing lines . . . . . . . . . . . . 35,000 0 0
Addi t ions to T r a m w a y Lines and Rolling Stock,
and for other purposes 25,000 0 0
60,000 0 0

M I L I T A R Y —

To complete Defences and Works necessary

on the Coast, including cost of resuming

land .'. 15,700 0 0

Towards the es tabl ishment of a Small Arms

Ammuni t ion Fac tory in New South Wales 19,500 0 0
35,200 0 0
H A R R O U R S AND R I V E R S —
Trial B a y Pr i son—Erec t ion of quar ters . . . 5,600 0 0
Richmond River Improvemen t s 25,000 0 0
Moruya River Improvement s . . . . . . . . . 6,500 0 0
Tweed River Improvemen t s 10,000 0 0
N a m b u c c a River Improvemen t s 5,030 0 0
Macleay RiveT Improvemen t s 12,000 0 0
Has t ings River Improvement s 5,000 0 0
Camden H a v e n River Improvemen t s . . . . . . 8,000 0 0
B a t e m a n ' s B a y Training-wall 5,000 0 0
Shea's Creek and Cook's River—Stone pi tching
along banks 7,000 0 0

Landing Silt from Dredges, including Special

Dredging and Forming Ground . . . . . . 15,000 0 0

Woolloomooloo B a y Wharf—New Wharfs , Cargo

Sheds, Office, and Latr ines 5,500 0 0
Po r t Kembla Improvemen t s 10,000 0 0
Newcast le Harbour—Prov id ing extra Mooring
Accommodat ion—fur ther sum . . . . . . 5,000 0 0
Newcastle Wharf and Shipping Appliances,
Inner Bas in—towards construction of . . . 15,000 0 0
Brought over £ 3 9 5 , 2 0 0 0 0
H A R B O U R ; AND RIVERS—continued.
Brought over £139,600 0 0
Naval Stat ion Works , Garden Is land—further
sum 500 0 0
Country Towns Wate r Supply—further sum . . . 2 5 , 0 0 0 0 0
George's River I m p r o v e m e n t s . . . . . . . . . 2,000 0 0

167,100 0 0

R A I L W A Y AND T R A M W A Y C O N S T R U C T I O N —
Cootamundra to Gundagai Rai lway—Costs .

McSharry v. Commissioner for Ra i lways—

further sum 1.500 0 0
Nevcrt i re t o W a r r e n Rai lway—fur ther sum . . . 4.500 0 0
Koorawa tha to Grenfell Railway 96.825 0 0
The Rock to Green's G u n y a h (Lockhart) Ra i lway 65,939 0 0
Byrock to Brewarrina Railway . . . . . . . . . 146.350 0 0
T r a m w a y s generally . . . " 75.000 0 0
Trial Surveys 16.000 0 0
Tarrawingce Rai lway Line a t Broken Hil l—
Purchase of 15,500 0 0

Rosehill Railway, from Clyde to Carlingford, including the brand) line to the P a r r a m a t t a River, t imber wharf at the te rmina t ing point of t he branch line, with the loading appli­ ances upon it. tu rn tab le , land, s ta t ions, platforms, and siding accommodat ion , and everything provided or carried out in con­ nection with the railway under Bennet t and Simpson's Railway Acts—Purchase of (as recommended by the Public Works Com­ mit tee in their Report on the proposed Rai lway from the terminus of the Rosehill Railway to Dural)

20.000 0 0

4 4 1 , 6 1 4 0 0
G O V E R N M E N T A ROHITEI T
Austral ian Museum—Addit ions , &c 13,500 0 0
Nat iona l Ar t Gal lery—Addit ions—further s u m . . . 13.000 0 0
New Offices for Hunte r District Wate r and
Sewerage Board . Newcast le—further sum. . . 1.000 0 0
Government Pr in t ing Office—Additions. &c. . . . 2 , 4 7 3 0 0
Custom house Buildings—Addit ions 19.300 0 0
Treasu ry Building Addition- — further s u m . . . 3.500 0 0
Rvda lmere Hospital or Insane - Addit ions . . . 4.500 0 0

Kenmorc Hospital for In sane - Erection, &c.—

further sum 30.000 0 0

Post and Telegraph Offices—Erection and Addi­

tions West Mai t land; N a r r a n d e r a ; Pyr-
m o n t :  Newcast le ; Berr igan; Dulwich Hi l l ;
Concord;  Ba l ranah l : Post and Telegraph
Offices generally  2 7 , 0 0 0 0 0
Brought over £1,003,914 0 0
GOVERNMENT ARCHITECT—cont inued.
Brought over £114,273 0 0
General Post Office—Additions—further sum .. . 12,500 0 0
Purchase of Sites for Post and Telegraph Offices
generally 3,000 0 0

Gaols—Erection and Additions—Darlinghurst;

Par ramat ta ; Bathurst; Berrima; East
Maitland; Gaols generally 22,000 0 0

Lock-ups—Erection and Addition—Armidale ;

Mosman; Lock-ups generally . . . . . . 4,000 0 0

(lourt-houses—Erection and Additions—Tcmora; Coolanion; Condobolin; Wyalong; Wagga Wagga ; Cootamundra; Goulburn; Wil- cannia; Cobar; Morec; Court-houses generally

36,000 0 0

Police Stations—Erections and Additions—

Murrurundi; Major's Creek: Swamp Oak; Nowra; Condobolin; Jerilderic; Forbes; Cootamundra; Darlinghurst; Police Sta­

tions generally . . . 15,000 0 (I

208,773 0 0

SEWERAGE CONSTRUCTION—

Double B a y Low Level Sewerage—further sum... 1.700 0 0
Brennan-strect, Easton Park, and Wallsend
Stormwater Channels 3,800 0 0

Willoughby and Chatswood Sewerage—further

sum ' 4,800 0 0
Rookwook Asylum Sewerage—further sum .. . 1,700 0 0
Quarantine Station Sewerage and Water Supply 4.500 0 0
North Sydney and Mosman Sewerage Extension
—further sum 12,000 0 0

28,500 0 0

METROPOLITAN BOARD OK WATER SUPPLY AND SEWERAGE—

Water Supply—

Improvements to Trunk Mains, Reticulation
Works, Improvements to twisting Reser­

voirs, strengthening Upper Canal Banks,

and minor works 90,000 0 0
Erection of new buildings . . . . . . . . . (i.000 0 0

Sewerage—

Western Suburbs, including Balmain. completion

of Reticulation Works, and ventilation and

minor works, gravitation and low level . . . 180,000 0 0

Northern Suburbs (including Willoughbv, Mos­

man. and Neutral Bay Divisions) . . . 85,000 0 0

Eastern Suburbs (including Woollahra, Wavcr-

lev, Randwiek, and Kensington) 27,000 0 0
City Sewers 5,000 0 0
Sewage Farms—Distributing Carriers, under-
draining Rai lway Bui ld ings . . . . . . . . . 8,000 0 0

401,000 0 0

Brought, over £1,640,187 0 0
ADMINISTRATION OF JUSTICE—Trial Bay—Harbour Improvements . . . 12.000 0 0

POSTMASTER GENERAL—Construction and Extension of Telegraph and

Telephone Lines, generally 50,000 0 0
Total, Permanent and Reproductive Works £1,702,187 0 0

OTHER WORKS.

(To be paid out of the Consolidated Revenue in thirty years, by means

of an Annual Sinking Fund.)

GOVERNMENT PRINTER—Additional Machinery for the Government

Printing Office ' 2,000 0 0

BRIDGES—

Tumut River, at Oddys; Nepean River, at Camden; Merrowie Creek, at Bellingerambil; Killawarra, Manning River ; Cooma

Creek; Clarence River, at Tabulam ; Little River, Kempsey,
Macleay River (further sum); Myall Creek; Flood Channel,

Bogan River; Dingo Creek, at Cameron's Crossing; Manilla

River, at Upper Manilla; Jugiong Creek; Cuttagee Creek;

Talbragar River; Condie's Creek; Haslam's Creek; Dignam's

Creek; Bottle Creek; Billabong Creek, at Garryowen; Croppa

Creek; Lachlan River, at Condobolin; Yass River, at Gun-

daroo ; Orara River, at Sharp's Crossing; St. Mary's Crossing,

Allyn River: Reedy Creek, at Warialda; Tarlo River; Run
of Waters Creek; Muddy Creek, West Botany; Rosedale,

Murrumbidgee River ; Billabong Creek; Bridges generally... 57,000 0 0
HARBOURS AND R I V E R S —

To provide Water Supplies for Minor Townships

(unincorporated) 10.000 0 0
Sea-wall, Fort Macquarie 2,000 0 0
Sea-walls, Manly—rebuilding 1,500 0 0
Dredge Dock, Richmond River—further sum . . . 1,000 0 0
Dredge Dock. Tweed River—further sum . . . 1,500 0 0

Government Warehouse, Circular Quay, West

side—alterations .. 1,250 0 0
Additional Cargo Sheds f.nd Approaches, Eastern side, Woolloomooloo Bay 8,000 0 0
Fitzroy Dock—Extension and Appliances . . . 7,500 0 0
Punts for Harbour and Reclamation Works . . . 4,000 0 0

Shea's Creek and Cook's River—Wharfs and

Bridge at Riekettv-street 3,000 0 0
New Hull for s.s. " Thetis " 10,000 0 0
Sea-wall, Snail".; Bay 1,500 0 0
Bourkc Wharf and Crane—further sum . . . 1,000 0 0
Deepening Duck River 6,500 0 0
Improvements to Cook's River, near Tempo, and
providing for discharge of Flood Waters—
further sum .. . . 1,500 0 0

60,250 0 0

Brought over £119,250 0 0

GOVERNMENT ARCHITECT—

Bourke Land Board and Survey Offices—further

sum 500 0 0

Royal Mint—Additions and Fittings—further

sum .. . 2,000 0 0

Quarantine Station Buildings—Additions and

Improvements, Sydney Heads and Woolloo-

mooloo ..." 5,600 0 0
Government House, Sydney—Rebuilding ... 1,500 0 0

Conversion of Old Court-house, Redfern, into Fire Brigade Station

1,400 0 0

Newcastle Hospital for Insane—Additions . . . 1,500 0 0

Parramatta and Gladcsville Hospital for Insane

—Additions 4,000 0 0

Coast Hospital, Little Bay—Additions and Water Supply

2,900 0 0

Post and Telegraph Offices—Erections and Additions—Bourke; Wallsend ; Jerilderic; Hillgrove; Nowra; Wyalong West; Bathurst; Minor Towns; Post Offices generally; Turret Clocks for Post Offices Newtown, Broken Hill, Lismore, and North Sydney, on condition that the respective Municipal Councils provide one-third of total cost

9,000 0 0

Lock-ups—Erections and Additions—Moree;

Narrabri; Erskine-street, Sydney; Wyong; Taree; Condobolin; Gundagai; Bingara;

R y d e ; Bourke; Lock-ups generally . . . 6,000 0 0

Court-houses—Erections and Additions—Bat- burst ; Albury; Warren; Broken Hill; Wellington; Parkcs; Coopemook; Anglc- dool; Whitton ; Bourke ; Mudgeo; Daysdale; Coonamble; Court-houses generally ... 6,500 0 0

Police Stations—Erections and Additions—

Gosford; Parkes; Currabubula; Glen
Lines; Goolagong; Wollongong; Broke;
Collie; Gilgandra; Girilambone; Tum-

barumba; Ellenborough; Bathurst;
Wardell; Frederickton; Tuena; Chats-
worth Island; Koorawatha; Waroo;
Balranald; Kempscy; Mt. McDonald;
Finley; Mcrriwa; West Maitland;
Canowindra; Wagga Wagga ; Camden
Haven; Police Stations generally 12,000 0 0
Gaols — Erections and Additions — Young;

Mudgee; Electric Light installation in Gaols, Darlinghurst, Goulbum, Bathurst, East Maitland, and Parramatta (further sum); Gaols generally

8,000 0 0

Board of Health—Disinfecting Station and

Machinery 3,500 0 0

64,400 0 0

Brought over . . . . . . . . . £183,650 0 0

AGRICULTURE—For the promotion of Agriculture, Agricultural end Vit cultural Colleges and

Experimental Farms 50,000 0 0
PUBLIC WATERING PLACES, ARTESIAN W E L L S . &c.-

Boring for Artesian Water and Minerals, for

Public Watering Places generally, and

Expenses incidental thereto ... . . . 100,000 0 0

150,000 0 0

Total. Other Works ... .. £333,650 0 0
R E P A Y M E N T OF LOANS.
TO MEET 5 PER CENT. DEBENTURES FALLING DUE IN 1899 — In January
—Railways and Public Works—32 Vic. No. 13 . . . . . . £197,700 0 0
Total. Repayment of Loans 197,700 0 0
Total, Permanent and Reproductive Works 1,702,187 0 0
Total. Other Works 333,650 0 0
GRAND TOTAL £2,233,537 0 0

2. Any Stock issued within the Colony under this Act shall, as to a sum not exceeding One million eight hundred and ninety-nine thousand eight hundred and eighty-seven pounds, be styled " New South Wales Funded Stock," and shall run pari passu and be redeemable concurrently with the Stock issued under the provisions of the Funded Stock Act of 1 8 9 2 , and shall, if sold otherwise than by tender, be pur­ chasable at the Treasury upon any lawful d a y ; and, as to a sum not exceeding Three hundred and thirty-three thousand six hundred and fifty pounds, shall be styled " New South Wales 1 9 2 9 Stock," and shall be redeemable on the thirtieth day of June, one thousand nine hundred and twenty-nine, by means of a Sinking Fund, for the purpose of which

a sum not exceeding Eleven thousand one hundred and twenty-one
pounds thirteen shillings and four pence shall be set apart out of the Consolidated Revenue Fund, annually, upon the thirtieth day of June

in each year, commencing with the thirtieth day of June, one thousand nine hundred, until the date of redemption; and such Stock shall, if
sold otherwise than by tender, be purchasable in like manner as the
Stock hereinbefore mentioned.

3. The Governor may make regulations for dealing with the Sinking Fund established by the last preceding section, and may appoint Commissioners.

4. The provisions of the Funded Stock Act of 1 8 9 2 relating to the dates for the payment of interest and the method of inscription and transfer of Stock, and the regulations under such Act, and the forms prescribed in the said regulations, are hereby declared to be applicable to, and shall be followed and used, mutatis mutandis, in connection with, all Stock issued within the Colony under the provisions of this Act.

5. All moneys borrowed under this Act shall be paid to the

Treasurer and shall be by him carried to and form part of the General Loan Account, and be appropriated and applied, as required, to the works and services hereinbefore specified, or to any other duly authorised Loan Services, in terms of the Loans Fund Amalgamation Act of 1 8 7 9 .

6. Debentures or Stock sold or issued under this Act are hereby declared to be for all purposes Government Securities; and all corpora­ tions and other persons whatsoever shall have power to invest in the purchase of such Debentures and Stock any property held by them, whether as trustees or otherwise, which they are not expressly forbidden to invest in Government Stock or Securities, without on that account being liable as for a breach of trust or incurring any liability whatsoever, provided that such investment is in other respects reasonable and proper.

7. Notwithstanding anything to the contrary in any special Act,

the provisions of the Loans Fund Amalgamation Act of 1 8 7 9 shall be deemed to have applied and to apply to and in respect of all moneys borrowed or which may hereafter be borrowed under the authority of
any special Act; and the provisions of any special Act so far as they
repeal, amend, or restrict the operation of any of the provisions of the Loans Fund Amalgamation Act of 1 8 7 9 are hereby declared to have been and to be of no effect, and any moneys at credit of the General Loan Account may be applied to any service authorised by a special Act notwithstanding that no money has been raised under such special Act.

8. Nothing herein contained shall be deemed to warrant any

expenditure under this Act in respect of the following services until the Act required under the provisions of the Public Works Act of 1 8 8 8 to authorise the same shall have been passed, namely:—

Tweed River Improvements . . . . . . . . . £10 ,000
Moruya River Improvements . . . . . . . . . 6 ,500
Nambucca River Improvements . . . . . . 5 , 0 0 0
Macleay River Improvements . . . . . . . . . 1 2 , 0 0 0
Hastings River Improvements
. . . . . . 5 , 0 0 0

9. In this Act the expressions " special Act " and " loan services " have the meanings given to them respectively in the Loans Fund Amalgamation Act of 1 8 7 9 , "Governor" means Governor with the advice of the Executive Council, " Treasurer ' means the Colonial Treasurer for the time being, and the expression " S t o c k " means Inscribed or Funded Stock.

10. This Act may be cited as the " Loan Act of 1 8 9 8 . "

Act

Actions
Download as PDF Download as Word Document


Cases Citing This Decision

0

Cases Cited

0

Statutory Material Cited

0