Public Purposes Loan Act 1870 (SA)

ANNO TRICESIMO TERTIO ET TRICESIMO QUART 0

VICTORIE REGINAL

No. 16.

An Act to authorize the raising of Mon.ey for Public Purposes.

[Aswntcd to, 13th January, 1871.1

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

v General Revenue of South Australia, funds for public pur- poses-Be it thereforc 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:

1. It shall be lawful for the Treasurer, from time to time, to issue ~,,,,,,,, to raise

bonds, not exceeding in the whole the sum of One Hundred Thousand ~ 1 0 0 ~ 0 0 0.

Y

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 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 five 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 prin-

cipal

33" & 34" VICTORIB, No. 16.

Pub& Purposes Loan Act.-1 870-7 l.

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 South Australian Government Gaxette

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.

to bear intereat

at 5 per cent.

2. The said bonds shall bcar interest at the rate of Five Pounds per centum per annum; and the interest and principal upon such bonds shall be payable and paid to the holder thcreof at such place and at such time as may be specified or provided therein: Provided

When payable.

that the time appointed for payment of the principal shall not

extend beyond twenty-five years.

Application of

money S.

3. All moneys raised and received by the Treasurer upon the security of the said bonds shall bc carried by the said Treasurer to

the credit of the General Kcvenue.

sums to be	4. It shall be lawful f ~ r	the Treasurer, and he is hereby required,
annually for payment

o f principal and	in each and every year from the first raising of any sums of money
interest.	under the authoritv hereof. until the whole amounts so raised, and all interest thcreo;, shall have been duly paid, to set apalt'auch
such year, together with interest upon all bonds which shall then sum as shall suffice to pay the amount of bonds redeemable during
bear interest, and shall apply such sum in payment of such bonds
and interest in manner specified in such bonds,

short title. 5. This Act may be cited as the "Public Purposes Loan Act,

1870-71."

In th3 name and on behalf of the ~ u e e i, I hereby assent

to this Act.

J AMES FERGUSSON, Governor.

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