NT Loan Act 1873 (SA)

ANNO TRICESIMO SEPTIMO

No. 17.

An Act to provide finds -for' the Repayment to certaitr purchasers o f Lands in the Northern Territorp of the amount of their Purchase-money, with I~tterest thereon, and for other purposes connected with the Northern Territory.

[Assented to, 18th December, 1873.1

HEREAS it is expedient to raise funds, by loan, for the pur- Preamble.

W pose of repaying to certain purchasers of lands in the Northern Territory the amount of their purchase-money, with

interest thereon, and for other purposes connected with the Northern Territory-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:

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1. This Act may be cited for all purposes as '(The Northern Short title.

Territory Loan Act, 1873."

2. It shall be lawful for the Treasurer, for the time being, of T r e u u r e r m a ~ i m

the said Province, from time to time to issue bonds, not exceeding bonde.

in the whole the sum of One Hundred 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) No.

Northern Territory Bond.

[Authorized by Act of Parliament No. , 1873.

;E aE

1, the Treasurer of the Province of

South Australia, in consideration of the sum of

Pounds, paid to me 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 Four 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 principal 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 seventy

Treasurer.

Signed, sealed, and delivered, in

the presence of

(Bond transferable by delivery.)

And the Principal and Interest shall be payable at the Treasury in Adelaide, South Australia, or in London, at the Office 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 Four 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 principaLshal1 not be payable or paid before the expiration of twenty years, and the time appeinted for payment thereof shall not extend beyond thirty years from the time of the passing of this Act.

raisea to 4. The moneys hereby authorized to be raised shall be received by

carried to credit of

w0aham Ttj&tory

the Treasurer and be carried by him to the credit of G The Northern

account.

Territory Account," and out of the moneys so ~aised the Treasurer

is hereby empowered to pay and liquidate-

I. The claims and demands of those purchasers of land in the

Northern Territory who have instituted proceedings at law or

in equity against the Government of South Australia for the

return of their purchase money:

11. The claims and demands of those purchasers of land in the

Northern Territory who have demanded, or who shall hers after demand, the return of the purchase money paid for such land, with interest thereon:

And the Treasurer may apply the balance of such moneys towards

the general purposes of the Northern Territory in such amounts and manner as the Governor, by any warrant under his hand, may from time to timk authorize and direct.

5. The

The Northern Territory Loan Act.-1873.

5. The said Treasurer shall and is hereby required in each and Paymentof prin+l and interest.

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 redeemable

during the ensuiug half-year, together with interest upon a11 bonds ~ h i c h shall then bear interest; and shall apply such sum in payment of such principal and interest as aforesaid, in manner specified in such bonds.

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

rize advance. J

hand, authorize thc 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 be raised, and any sums of money so advanced a ~ d paid shall be retained by the Treasurer out of any moneys raised by him under the authority hereof.

7. All sums of money raised under the authority of this Act, Moneys tobe a oharge

and the interest to become due thereon, shall be a charge upon the ~,~fi~~,,	on hnds of Northern
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 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 s a d 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 any other revenue to be derived from the said Northern
-Territory.

I n the name and on behalf of Her Majesty I hereby assent to

this Act.

A. MUSGRAVE, Governor.

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