Loan for 1857 Act 1857 No 12a (NSW)

No. XVI.

An Act to authorize the raising of a Loan of One hundred and th i r ty thousand and four hundred pounds upon the security of the Consolidated Revenues of the Colony to meet a like amount payable in the Year 1857 upon Debentures to fall due in. tha t Year.

[12th February, 1857.]

WH E R E A S m e n t of t h e Colony for publ ic purposes a n d a m o u n t i n g

cer ta in D e b e n t u r e s heretofore issued by t h e Govern­

toge ther to t h e s u m of one h u n d r e d and t h i r t y thousand four h u n d r e d pounds will fall due a t var ious dates in t h e year one thousand e ight h u n d r e d a n d fifty-seven and i t is expedient to enable t h e Government to raise a l ike a m o u n t for t h e purpose of pay ing t h e same at m a t u r i t y by t h e sale of new Deben tu res secured upon the Consolidated Revenues of t he Colony Be it therefore enacted by t h e Queen ' s Most Exce l len t Majesty by and wi th t h e advice and consent of t h e Legislat ive Counci l and Legis la t ive Assembly of N e w South Wales in P a r l i a m e n t assembled a n d by the au thor i ty of t h e same as fo l lows :—

1. I t shall be lawful for t h e Governor wi th t h e advice of t h e

Execu t ive Counci l from t i m e to t ime du r ing t h e year one t h o u s a n d

eight h u n d r e d a n d fifty-seven to raise by t h e sale of D e b e n t u r e s

secured u p o n t h e Consolidated Revenues of t h e Colony and bea r ing

in te res t at a r a t e no t exceeding five per c e n t u m per a n n u m t h e sum

of one h u n d r e d a n d t h i r t y t housand a n d four h u n d r e d pounds 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 course of t he said year .

2. Al l sums borrowed under th i s A c t shall be paid to the
Colonial Treasurer and shall be by h i m placed to the credi t of t h e

Consolidated R e v e n u e Fund to be applied for t h e purpose aforesaid

and shal l be accounted for in t h e same m a n n e r as if they h a d formed

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