No. V.
An Act to enable the Government to raise a
a certain Loan to meet Debentures falling
| due in 1860. | [22nd February, | I860.] |
| WH E R E A S it is expedient to enable t h e Government to borrow | pounds to pay off cer ta in Deben tu re s which will fall due in t h e year |
| the sum | of | th ree h u n d r e d a n d sixty-five t housand | six | h u n d r e d |
| one thousand e ight h u n d r e d a n d sixty | Be it therefore enacted by | t h e |
| Queen ' s Mos t Exce l l en t Majesty by and wi th t he advice and | consent |
| of t h e Legis la t ive Counci l and | Legis la t ive Assembly | of | N e w | South |
| W a l e s in P a r l i a m e n t | assembled | and by the au thor i ty | of | t he | same | as |
| follows :— |
1. I t shall be lawful for the Governor w i th the advice of t h e Execu t ive Counci l to raise by t h e sale of Deben tu res secured upon t h e Consolidated R e v e n u e Fund of the Colony and bear ing interes t at a r a t e not exceeding five per c e n t u m per a n n u m such, s u m or sums of money not exceeding th ree hundred and sixty-five t housand six hundred pounds in t h e whole as m a y be required to pay off and discharge cer ta in D e b e n t u r e s which will fall due in one thousand
| e ight h u n d r e d | and | sixty hereinafter | more par t i cu la r ly | specified t h a t | is |
| to say— |
| Ra i lway | Deben tu res | £281 ,700 |
| Pub l i c | W o r k s | Deben tu res | 21,000 |
| Sydney Sewerage Deben tu res | 14,900 |
| Sydney | W a t e r | W o r k s | Deben tu res | 18,000 |
£365 ,600
2. Al l sums borrowed under th i s A c t shall be paid to the Colonial Treasurer and shall be by h i m placed to t h e credit of t h e Consolidated R e v e n u e F u n d and shal l be appl ied towards t h e purposes for which t h e same shall have been respectively raised and shall be accounted for in t h e same m a n n e r as if t hey had formed p a r t of t he
| Cur ren t A n n u a l Revenue of | t he | Colony. |
3 . Al l sums so as aforesaid borrowed a n d applied to pay ing off
any Deben tu re s for Sydney Sewerage or W a t e r shall toge ther wi th all
in teres t thereon be and con t inue to be secured on the ent i re Revenues
| of t h e Council of t h e City of Sydney from whatever source arising. |