Port Adelaide Improvement Act 1866 (SA)

ANNO TRICESIMO

A.D. 1866-7.

No. 26.

An Act to authorize the ~aisiptg qf n Loan by t?w issue of Government

Bonds for the Deepening aand Inqmmment o f Port Adelaide.

[Assented to, 11th January, 1867.1

HEREAS it is expodient that provision should be made for Rasmble.

W improving Port ----. Adelaide by removing the obstruction

known as the inner bar and o s r w i s e deepen~ng the harbor, and for raising the necessary funds for the ssddpurpose, in manner herein- after mentioned-Be it therefore Enacted, by the Governor-in-Chief 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 sssemblcd, as follows:

1. This Act may be cited and referred to, for all purposes, as

the L( Port Adelaide Improvement Act, 1866-7,"

2. I t shall be lamfd for the Treasurer, for the time being, of the Trcnalrer to raise

sitid Province, from time to time, to issuc bonds not exceeding in the ~100~000*

whole the sum of One Hundred Thousand Pounds, for such amounts

as he may deem expedient; and sucli bond shall be in the form fol-

lowing, that is to say-

NO. $ NO. Form of bond.

Port Adelaide Improvement Bond.

Treasurer of the Province of South Aus-

1, tralia, in consideration of the sum of Pounds

paid to me for the purposes of the Port Adelaide Im- provement, do hereby bind myself to pay to the holder,

for the time being, of this present obligation, the sum of

4 C Pounds

30° VICTOR12f3, No. Z6.

Port Adelaide Improvement Act-1866-7.

Pounds, and interest thereon after the rate of six per cent, 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 eight hundred and

Sealed with my seal. Dated the day of P

one thousand eight huudrcd and

Signed, sealed, and delivered, in

the presence of

NOTE.-Interest, payable at the Treasury in Adelaide, South Aus- tralia, or [in London or in any other agreed place] at such place as may be appointed, by notice to be given in the

8ou,th Australian Government Gazette [and in the London

Gazette].

Principal payable at the Treasury, in Adelaide, or at the

option of the holder p n London or other agreed place],

if six months' notice of desire to that effect be given to

the Treasurer in South Australia.

Interest. 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 payablc and paid to the holder thereof, at such place and time as may be specified or provided therein: Provided that the principal shall not be payable or paid before thc expiration of twenty years, and the time appointed for payment thereof shall not extend beyond forty-five years.

B O R ~ S to h aoM. 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.

Applicationsfmaney~.	5. All SUlxlS 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 deepening and improving of the said Port of Adelaide, and shall be by him paid in such amount and manner as the Governor by any warrant under his hand, may from time to time
&uthorize and direct.

Payment of principal 6. The said Treasurer shall, and he is hereby required, in each

and interest. and every year from the first raising of any sum 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 sum as shall suffice to pay the amount of bonds redeemable during such v year, together with interest upon all bonds which shall then bear interest; and shall apply such sums in payment of such bonds and interest as aforesaid, in manner specified in such bonds.

7. Tbe

30" VICTORIB, No. 26. 259

Port Adelaide hprovement Act.--1866-7.

7. The Governor may from time to time, by warrant under his ~ o v .a- ~ ~ o ~ ~ ~ ~

hand, authorize the Treasurer to advance and pay, for the purposes "''	mOneVz'
of this Act, any sums of money not exceeding in the whole the sum herein authorized to be raised; and any sums of money so advanced and paid shall be retained by the Treasurer out of any moneys raised by him under authority hereof.

8. The moneys by this Act authorized to be raised shall be laid how money^ tobe0

out and expended, and the necessary works for the deepening and pended*

improvement of the said Port of Adelaide shall be carried out under

the supervision and control of the said Treasurer: Provided that

no moneys raised under this Act shall be expended until a state-

ment of the proposed expenditure shall have been laid before Par-

liament for the space of fourteen days.

9. The Treasurer shall, in each year, cause an account in A,,d,,,o,t,

abstract to be prepared of the whole receipt and expenditure of all moneys advanced to him for the purposes of this Act, for the year preceding, under the several distinct heads of receipt and expendi- ture, 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 be published in the Government Gazette.

In the name and on behalf of the Queen, I hereby asaent to

this Act,

I). DALY, Governor.

"

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Advlaidc : Printed by authority by W. C. Cox, Goyarnmont Printer, Vi~tON~-nquam