Public Purposes Loan Act 1867 (SA)

VICTORIB REGIN&,

A.	D. 1867.
No. 27. .

An Act to authorize the raising of Money for Public Purposes.

[Asseilted to, 19th December, 1867.1

HEREAS it is expedient to raiae by loan, secured on the Preamble.

W General Revenue of South Australia, funds for public pur-

poses-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 assembled, as follows:

3M

1. It shall be lawful for the Treasurer, from time to time, to issue Treaaul er to ruiae

bonds, not exceeding in the whole the mm of Two Hundred and	rj220,ooo.
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. Form of bond.

South Australian Government Revenue Securities.

I, the Treasurer of the Province of South Australia, in consideration of the sum of Pounds, paid to me for public purposes, 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 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 tbe piin-

cipal

Public Purposes Loan Act.--1867.

cipal to be paid on the 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

NOTE.--Interest and principal, payable at the Treasury in Adelaide, South Australia [or in London, or in any other agreed place to be declared at the time of issue] at such place as may be appointed, by notice to be given in the So?dz Australian Government Gazette and in the London Gazette.

And every holder of any such bond for the time being shall be

entitled to all rights and remedies under and in respect of the same, in the like manner as though he had been named therein as the obligee thereof.

Bonda to bear inkrest	2. The said bonds shall bear interest at the rate of s ix 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 at such time as may be specified or provided therein: Provided
at 6 per cent.
monpayable'	that the time appointed for payment of the principal shall not
extend beyond twenty-five years.
Application OE	3. A l l moneys raised and received by the Treasurer upon the security of the said bonds shall be carried by the said Treasurer to the credit of the General Revenue, and shall be by him paid in such amount and manner as the Governor, by warrant under his hand, may from time to time authorize and direct.
moneys.

8uma tn be apart 4. I t shall be lawful for the Treasurer, and he is hereby required, under the authority hereof, until the whole amounts 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 year, together with interest upon all bonds which shall then bear interest, and shall apply such sum in payment of such bonds and interest in manner specified in such bonds.

:rny~:;g~,mo"	in each and every year from the first raising of any sums of money
ntercst.

Short W e. 5. This Act may be cited as the "Public Purposes Loan Act

of 1867."

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

this Act.

D. DALY, Governor.

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Adelaide : Printed t y authority, by W. C;. Cox, Governmcnt Printer, Victoria-square.