NT Loan Act 1870 (SA)

ANNO TRICESIR10 TERTIO ET TRICESIMO QUARTO

A.D. 1870.

No. 6,

An Act to make provision for the Raising of Funds for the Norther?&

Territory, and for other purposes.

[Assented to, 21st September, 1870.1

W HEREAS it is expedient that the carrying out of the provisions Preamble. of ' G The Northern Territory Act, " No. 23 of 1863, as amended

by "The Northern Territory Amendment Act, 1868," should be continued: And whereas it is necessary to provide additional funds for such purposes-Be it therefore Enacted by the Governor of the Province of South Australia, with the advice and consent of the Legislative Council and House of Assembly of the said Province,

in this present Parliament assembled, as follows:

1. This Act may be cited for all purposes as " The Northern Shorttitle.

Territory Loan Act, 1870."

said Province, from time to time to issuc bonds, not exceeding in the 620,000. 2. It shall be lawful for the Treasurer, for the time being, of the Trenaurcr to raiae

whole the sum of Twenty 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 thc sum of Pounds, paid to me for the purposes of the Northern Territory,

do hereby bind myself to pay to the holder for

H the

the time being of this present obligation the sum of

Pounds, and intcrest thereon after the

rate of six pounds per centum per mnum; and such

intcrcst to be payablc on the first day of January and

the first day of July in eveiy year, and the principal

to be paid on tbe first day of in the year

one thousand eight hundred and

Sealed with my seal. Dated the day of

one thousand eight hundred and

Signed, sealed, and delivered in

the presence of 1

X or~.--Pri~cll,cd a.nd Ifitcrest payable at the Treasury in

Adelaide, South Australia (or in London, at surh place as may be appointed), the place of payment being declared at time of issue.

3. The said bonds shall bear interest at the rate of Six Pounds per ccntlm 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 pro\ ided thcrein: Provided that

the principal shall not bc payable or paid before thc expiration of

twenty-five years, and the timc appointed for payment thereof shall not extend beyond fifty years from the time of the passing of this Act.

Bonds to be sold. 4. The Treasurer shall cause every bond issucd undcr this Act to

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

for the same.

Application of

moneys.

5. All sums of money raised and received by the Treasurer upon the security of the said bonds shall be carried by him to a separate and distinct account, to be applied for the purposc of carrying out the provisions of the said a Thc Northern Territory Act,'' as amended

by "The Northern Territory Amendment Act, 1868"; and such sums of money shall bc paid by thc said Treasurer in such amounts

and manner as the Governor, by any warrant under his hand, may

from time to time authorize and dircct.

Payment of principzl

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 thc amount so raised, and

and interest.

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 year, together with interest upon all bonds which shall thcn bear interest; and shall apply such sum in payment of such bonds acd interest as aforesaid, in manner specified in such bonds.

Governor outho-

rim advance.	7. The Governor may, from time to time, by warrant under his 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 authorized to bc raised, and any sums of money so advanced

and

33" S: 34" VICTORIB, No. 6. .

_--- -- - + --

Northem Territory Luarz Act.-l 87 0.

and paid shall be retained by the Treasurer out of any moneys

raisecl by him under thc authority hereof.

8. The Treasurer shall in each year cause an account in abstract A n n u a l " ~ ~ ~ n t.

to be prepared of the wholc receipts and of the expenditwe of all

irloneys advanced to him for the pnrposcs of this Act for the year peceding, under the several distinct heads of receipt and expen- diture, with a statement of the balance of such account duly audited and certified by the Auditor-General; and a copy of S L I C ~ account shall on or before the thirty-first day of Dcccnzber, in each year fol-

lowing, be published in the Gover~zmelz t Gnxette.

9. All sums of money raised under the authority of this Act, and lIonc~f l t~)hc! n c l ~ ~ g e

on funds of Northern

the interest, to become due thereon, shall be a chargc upon the Territorv. 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

lands and revenue of the said Nc'rthern Territory; and all*sums of

rnoney paid by the Treasurer out of the General Revenue of the said

received by him for or on account of the sale of any land in the said

Yo~thern Territory, or otherwise for or on account of any other rcvenue to be derived from the said Northern Territory.

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

this Act.

JAMES FERGUSSON, Governor.

-. ..

Adelaide : I'rintcd by authority by W. C. Cox, Govcrnrnent Printer, Sorth-terrace.