NT Loan Act 1868 (SA)

ANNO TRICESIMO SECUNDO

VICTORIB REGINAS.

A.D. 1868.

No. 4.

An Act to make provision for the Raising o f Rtnds for the Northern Territory, nnd for other purposes.

[Assented to, 24th November, 1868.1

HEREAS it is expedient that the survey of the lands in that Pmmbk-

W portion of the Province of South Australia, known as the	Northern Territory, and tlx carrying out the provisions of ' The L
'Northern Territory Act, 1863" as amended by " The Northern Territory Act, of 1868," should bc forthwith proceeded with: And whereas i t is necessary to provide for raising additional funds for such purposes-Be it therefore Enacted by the Governor of the Pro- vince of South Australia, with the advice and consent of the Legis- lative Council and House of Assembly of the said Province in this
present Parliament assembled, as follows:

IZ

1. This Act may bc cited for 2111 purposes as The Northern Short Title;

Territory Loan Act, 1868."

said Province, from time to time to issue bonds, not exceeding in the fi40,0(10. 2. 15 shall be lawful for the Treasurer, for the time being, of the Treasurer to raise

whole the sum of Forty Thousand Pounds, for such amounts as he may deem expedient, and such bonds shall be in the form following, that is to say-

No. s No. ;E

Northern Territory Bond.

I, the Treasurer of the Province of South Australia,

in consideration of the sum of Pounds, paid

t 0

82" VICTO-RIfl, No. 4.

Northern Territory Loan Act.-1 868.

to me for the purposes of the Nortbern Yen-itory, do hereby bind myself to pay to the holder for the time being of this present obligation the sum of

Pounds, and interest thereon after the rate of six pounds per centum per annum; and such interest to be payable on the first day of January and the first day of July in eveiy year, and the principal to be paid on the first day of in the year one thousand eight hundred and

Sealed with my Seal. Dated the day of

one thousand eight hundred and

Signcd, sealed, and delivered in

the presence of

NoTE.--P&c@~~ mzd I~terest payable at the Treasury in

Adelaide, South Australia.

Merest. 3. The said bonds shall bear interest at the rate of Six Pounds per centum per .annum, and the interest and principal upon such bonds shall be payable and paid to the holder thereof, at such place and time as may be specified or provided therein: Provided that the principal shall not bet payable or paid before the expiration of ten years, and the time appointed for payment thereof, shall not extend beyond twenty years from the time of the passing of this Act.

Bonds to be sold. 4. The Treasurer shall cause every bond issued under this Act to

be sold for the best price, not being below par, that can be obtained

for the same.

Application of 5. All sums of money raised and received by the Treasurer upon

moneys.	the sccurity of the said bonds shall be carried by him to a separate and distinct account, to be applied for the purpose of carrying out
the survey of the said Northern Territory, and the provisions of the said The Northern Territory Act," as amended by K The Northern
Territory Amendment Act, 1868 ;" and such sums of money shall be paid by the said Treasurer in such amounts and manner as the Governor, by any warrant under his hand, may from time to time, authorize and direct.
Payment ofprincipal	6. The said Treasurer shall, and he is hereby required, in each and every year from the first raising of any sums of money under the authority hereof, until the whole of the amount so raised, and all interest thereon, shall have been duly paid, to set apart such a sum as shall suffice to pay the amount of bonds redeemable during such gear, together with interest upon all bonds which shall then bear interest; and shall apply such sum in payment of such bonds and interest as aforesaid, in manner specified in such bonds.
and interest.

Governor autho- 7, The Governor may, from time to time, by warrant under his

rim- advanoe. hand authorize the Treasurer to advance and pay for the purposes of this Act any sums of money not exceeding in the whole the sum

hereby

3Z0 VYTCTORIAE, No. 4.

Northern Territoy Loan Act.-1868.

hereby authorized to be raised, and any sums of money so advanced and paid shall be retained by the 'I'reasurer out of any moneys raised by him under the authority hereof.

8. Thc Treasurer shall in each year cause an account in abstract Annual account,

to be prepared of the who1 receipts and of the expenditure of all moneys advanced to him for the purposes of this Act for the year preceding, under the several istinct heads of receipt and expea- diture, with a statement of the balance of such account duly audited and certified by the Auditor-General; and a copy of such account shall on or before the thirty-first day of December in each year fol- lowing be published in the Gocernmozt Gazette.

9. All sums of money raised under the authority of this Act, and Ifoucy~ to be firat

charge on funds of

the interest to become due thereon, shall be a first charge upon the Northcrn Territory.

lands and revenue of the said Northern Territory; and all sums of

money paid by the Treasurer out of the General Revenue of this

Province, on account of principal or interest in respect of such bonds, or any of them, shall be repaid to the said Treasurer out of, or shall be charged by the said Treasurer against any moneys to be received by him for or on account of the sale of any land in the said Northern Territory, or otherwise for or on account of my other revenue to be derived from the said Territory.

In the name and on behalf of the Queen I hereby assent to

this Act.

F. G. HAMLEY, Governor.

l -

Adelaide : Printed by authority, by W. C. Cox, Government Printer, North terrace.

-