North Sydney Loan Enabling Act of 1897 (NSW)

280   Act No. 39, 1897.

North Sydney Loan LJnahling.

Act No. 39, 1897.

Horan si„K«v An Act to validate certain Loans raised by the

— lormerly existing ooroiigiis ot J^ast Saint Leonards and Victoria, and renewed by tlie boroiigdi of North Sydney. [lOi/i December, 1897.]

Preamble,	" I T y i lE l lE A S tlic m unicipal councils for th e then existing boroughs W of E ast Sain t Leonards and V ictoria raised hy loans the
am ounts set ou t in the Schedule hereunder w ritten : A nd whereas hy
proclam ation under th e hand of I l is Excellency the l l ig h t H onorable Charles E ohert, B aron Carrington, then G overnor and Commander- in-C hief of the Colony of New South W ales and its Dependencies, and dated the tw en ty -n in th day of Ju ly , one thousand eight hundred and ninety, the said boroughs of Saint Leonards, E ast Sain t Leonards, and V ictoria were un ited and form ed in to one m unicipality , under th e nam e of the borough of N orth Sydney, in accordance wdth th e provisions of the M unicipalities A ct of 18G7 : A nd whereas the said borough of N o rth Sydney hy A'irtue of such union is responsible for th e paym ent of th e sums of th ree thousand pounds, tw o thousand one hundred and fifty pounds, and two thousand pounds, being th e first and two la st am ounts shown hy th e said Schedule and horroived hy the said boroughs of E as t Saint Leonards and V ictoria respectively, and the said borough of N orth Sydney has from tim e to tim e, w ith the au thority of th e G overnor for the tim e being of th e said Colony, borrowed moneys for th e purpose of paying th e o ther loans nam ed in the said Schedule, w hich loans were originally contracted hy th e said boroughs of E ast Saint Leonards and V ictoria : A nd w hereas the said borough of N orth Sydney has obtained the au thority of the Governor to horroiv tw enty- th ree thousand pounds to he applied for th e purpose of repaying th a t proportion of the loans enum erated in the said Schedule a t the times wdien they shall respectively become due, as shown hy th e last colum n of th e said Schedule ; h u t it has been found th a t some of th e p iw isions of section one hundred and n ine ty of the M unicipalities A ct of 18G7 w ere not complied w ith in some of the cases of such borrow ing as aforesaid hy the said boroughs of E ast Sain t Leonards and V ictoria and N orth Sydney respectively, and it is therefore doubtfu l Avhethcr th e borough of N orth Sydney can noiv borrow to repay such loans, and i t is expedient th a t all the ahoi^e recited loans should he validated and th a t power he given to th e said borough to borrow th e said sum of tAventy-three thousand pounds to repay such loans :

Be

Act No. 39, 1897. 281

North Sydney Loan Enahliny.

Be it tlicrefore enacted by th e Q ueen’s M ost E xcellen t M ajesty, by and w ith the advice and consent of tlie Legislative Council ando Legislative A ssem bly of New South 'Wales in Pavliam cnt assembled, and by the au thority of the same, as follows :—

1. The loans set ou t in the said Schedule m ade by the boroughs Loaiu validated,

of E ast Saint Leonards, V ictoria, and X ortli Sydney respectively arc

hereby validated.

2. The borough of N ortli Sydney is hereby authorised, w ith - rower to borrow,

out obtaining any fu rther au tho rity from the Governor, to borrow a sum not exceeding tw enty-th ree thousand pounds a t in terest for th e purpose of repaying an equivalent am ount of th e said loans on the dates w hen the same shall respectively become due as shoAvn by the said Schedule, and th e m unicipal council of th e said borough of N o rth Sydney m ay m ake and give all tlic securities, and do all the acts in respect thereof as set fo rth in th e M unicipalitii's A ct of 1867, or any enactm ents tlicreof, and the holders of such securities shall have all the rig lits and powers conferred uj)on m o rt­ gagees by the said A ct or any am endm ents thereof.

3.    This A ct m ay be cited as the “ N orth Sydney Loan E nabling shoi-t utio.

A ct of 1897.”

The following is tlie Sifiodulc referred to ;—

SCHEDULE.

P abttcttl.vrs of Loans originally raised by the boroughs of East Saint Leonards and Victoria, and some of which w’cre subse(juently renewed by the borough of North Sydney, and for payment of which on duo dates it is now proposed to borrow the sum of twenty-three thousand pounds.

A m ount

of lomi. Issued by Date of i.ssue Keiiewed by Dale of renewal. >> lien duo

.€

;!,ooo l>orougli of East St. 1 April, 1888 1 April, 1808

Leonards.

3.000 liorougli of East St. 1 July, 1SS8 Borough of Nortli 1 Sopt., 1803 1 Sept., 1898

Leonards. Sydney.

5.000 Eorongh of East St. 13 Aug., 1889 Borough of Noi'tli 1 Aiig., 1.S94 1 Aug., 1898

Leonards—£3,000. Sydney. ̂

4.000 Borough of Victoria... 29 May, 1885 Borough of North 1 May, 1805 1 Nov., 1898

Sydney.

Borough of East St. 6 Jan., 1885

Leonards—£ 1,000.

2.000 Borough of East St. 15 Jan., ISSO Borough of North 1 .July, 1S95 15 Oct., ISOS

Leonards. Sydney.

2,000 Borough of East St. 24 Nov., 1895 Borough of Nortli: 24 Nov., IS95 24 Oct., ISOS

Leonards. Sydney. I ^

2,150 Borough of Victoria... 20 Feb., 18SG Due 1st February, ISOO, but liold over until

l.st August, 1S98.

2,000 Borough of East St. 1 Dec., 1897 lU ec., 1807

Leonards.

A ct