NT Loan Act 1872 (SA)

ANNO TRICESIMO QUINTO

VICTORIB REGINB.

A. D. 1812.

No. 6.

An Act to make provision for the Raising of Funds for the Northern

~err i to r i, awd for other purposes.

[Assented to, 25th April, 1872.1

W HEREAS it is expedient that the carrying out of the provisions Preamble. of Thc 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 ~ n j c t e d 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 Short title.

Territory Loan Act, 1872."

2. I t shall be lawful for the Treasurer, for the time being, of the Treasurer may issue

said Province, from time to time to issue bonds, not exceeding in the whole the sum of Twenty-five Thousand Pounds, for such amounts

as he may deem expedient, and such bonds shall be in the form

following, that is to say-

South Australian

Government Securities,

No. (Royal Arms) X 0,

Northern Territory Bond.

[Authorised by Act of ~arliarhent No. , 1872.1

E S

I, the Treasurer of the Province of South Australia,

in consideration of the sum of Pounds, paid

E to

35" VICTORIB, No, 6.

me Northern Territory Xoan Act,-1872.

to m e for the purposes of the Northern Territory, 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 five pounds per centum per annum; such interest to be payable on the first day of January and the first day of July in every year, and the p~incipd

to be paid on the first day of in the year

one thousand hundred and

Sealed with my seal. Dated the day of

one thousand eight hundred and seveiity

Treasurer.

Signed, sealed, and delivered in

the presencc of l

(Bond transferable by delivery .)

And the Principal and Interest shall be payable at the Treasury in Adelaide, South Australia, or in London, at thc Officc of the South Australian Government, the place of payment being declared at time of sale, and duly notified on the bonds.

Interest.

3. The said bonds shall bear interest at the rate of Fivc Pounds pcxcccntum per annum, and the interest and principal upon such bonds shall be payable and paid to the holder thereof, at slxh place and time as may be, spccificd or provided therein: Provided that the principal shall not be payable or paid before the expiration of twenty-five years, and the time appointed for payment thereof shall not extend beyond fifty years from the time of the passing of this Act.

Application of

moneys.

4. 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 purpose of carrying out

the provisions of thc said "The Northern 'l'erritory Act," as amended

by "The Korthern Territory Amendment Act, l868 ;" and such sums

of money shall be so applied 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 of prinoipal

and interest.

5. The said Treasurer shall, and is hereby required, in each

and every half-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 principal redeem- able during the ensuing halfLycar, together with interest upon all bonds which shall then bear interest; and shall apply such sum

in payment of such principal and interest as aforesaid, in manner

specified in such bonds.

Qovernar may autho- 6. The Governor may, from time to time, by warrant under his

rize rdvance. haad authorize the Treasurer to advance and pay for the purposes

of

, 35" VICTORIB, No. 6. 17

of this Act any sums of money not exceeding in the whole the sum

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

7. The Treasurer shall in each year cause an account in abstract to be prepared of the whole receipts and of the expenditu~e of all. moneys advanced to him for the purposes of this Act for thc year preceding, under the several distinct heads of receipt and expen- diturc, 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 thirtieth day of June, in each year, be pub- lished in the South Austdinn Government Gazette.

8. All sums of inoncy raised under the authority of this Act, and M o n ~ t o b e a c h w e on funds of Korthern

the interest to become due thereon, shall be a charge upon the Territory. 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 rcceived by him for or on accouilt of the sale of an3 land in the said Northern Territory, or otl~crmise for or on account of any othcr revenue to be derived from the said Northern Territory.

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

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

In thc name arid on behalf of' Her Majesty, Z hereby

assent to this Bill,

JAMES FERGUSSON, Governor.

-

Adelaide : By authority, TV. C. Cox, Government Printer, North-terrace.