Public Purposes Loan Act 1874 (SA)

AMNO TRICESIMO SEPTIMO ET TRICESIMO OCTAVO

VICTORIA3 REGINB.

A.D. 1874.'

No. 18.

An Act to provide Funds for various Public Purposes. and to Cancel

ihe Authority to Issue certain Unissued Bonds.

[Assented to, 6th November, 18'74.1

?REAS by the Act of Parliament No. 26 of 1866-7, intituled

v?' An Act to authorize the raising of a Loan by the issue of	Governrncnt Bonds for the Deepening and Improvement of Port
Adelaide," the Treasurer of the Province of Sonth Australia was authorized to issue bonds not exceeding in the whole the sum of One Hundred Thousand Pounds, bearing interest at the rate of
Six Pounds per centum per annum; and the said Treasurer has
issued, pursuant to the recited Act, bonds for the sum of Sixty Thousand Founds only: And whcreas it is expedient and desirable
to cancel the authority of the said Treasurer to issue bonds for the
remaining sum of Forty Thousand Pounds, bearing interest at the rate of Six Pounds per centum per annum, and to provide for the issue of other bonds for the Deepening and Improvement of Port Adelaide; And whereas it is also necessary to raise funds by loan for various other public purposes-Be it therefore Enacted by the Governor of the Province of South Australia, with the advice and consent of the Legislative Council and IIouse of Assembly of the said Province, in this present Parliament assembled, as follows:

Thousand Pounds.

1. The authority possessed by the Treasurer under Act No. 26 of Authority under Act 26 of 1866-7, ex-

1866-7 to issue bonds shall henceforth cease and determine, so far hausted.

as regards the issue of Bonds for the remaining sum of Forty

160 3 7 O & 3B0 VICTORIB, No. 18.

Pd&c Purposes Loan Act.-2874.

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Treasurer may issue

bonds. 2. I t shall be lawful for the Treasurer, for the time being, of the said Province, from time to time to issue bonds, not exceeding in the whole the sum of Four Hundred Thousand Pounds, for such amounts as he may deem expedient, and euch bonds shall be in the form following, that is to say-

South Australian

Government Securities.

No. (Royal Arms.) No,

Authorized by Act of Parliament, No. , 1874.

3.

I, the Treasurer of the Province of South Australia, in consideration of the sum af Founds paid to me for public purposcs, do hereby bind myself

to pay to the holder for the tlme being of this present

obligation the sum of Pounds, and in- terest thereon after the rate of Four Pounds per centum per annum; such interest to be payable on the first day of Janlmry 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 t,ransferable,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 declarcd

at the 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, a t such place and time as may be specified or provided therein: Provided that the principal shall not be payable or paid before the expiration of twenty

Redemption.

years, and the time appointed for payment thereof shall not extend

beyond thirty years from the time of the passing of this Act.

Application of 4. The moneys hereby authorized to be raised shall be received

money E.

by the Treasurer, to be carried by him to a separate and distinct account, and shall be applied to the several purposes set forth in the Schedule hereto in the several amouutfs set opposite to such purposes; and such moneys shall be so applied by the said Treasurer in such amounts and manner as the Governor, by any warrant under his hand, countersigned by the Chief Secretary, may from time to time

authorize and direct.

5. The

37" & 38" VICTORIJE, No. 18. 161

Public Purposes Loan Act.-l 874.

5. The said Treasurer shall, and is hereby required, in each and Payment principal

and interest.

every half-vca.r from the first raising of any sums of money under the k thorhY hereof, until the whble of the amount so raked, and all interest thereon, shall have been duly paid, to set apart such a sum as shall suffice to pay thc amount of principal redeemable during the ensuing half-year, together vith interest upon all bonds which 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 ?ernOrmay autho-

m e advancea.

hand, countersigned by the Chief Secretary, authorize the 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 bc raised, and any sums of money so advanced and paid, and a180 all sums

of money already advanced and paid for thc purposes of the works

or any of them in the Schedule hereto, shall be retained by the Treasurer out of any moneys raised by him under the authority hereof.

7. The Treasurer shall, on or before the thirtieth day of September Yearly return of re-

in each ycar, cause an account in abstract to bc prepared of the; ~ ~ ~ a n d e x p e n ~ i -

whole receipts and of the 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 expenditure, with a statement of the	'
balance of such account duly audited and certified by the Auditor- General, and a copy of such account shall be forthwith published in the Govertzment Gazette.

In the name and on behalf of Her Majesty, 1 hereby assent

to this Bill. A. MUSGRAVE, Governor.

SCHEDULE

b

162

37" & 38" VICTORIB, No. 18.

Public Purposes Loan Act.-1874.

SCHEDULE REFERRED TO.

1. Deepening and improvement of Port Adelaide. . .. .. . . ..

2. Deepening and improvement of Port Piric.. 27,000 0 0

Ditto	ditto	Port Wakefield 11,000 0 0
Ditto	ditto	other outposts. . 16,000 0 0

3, ~x tcns ion of Railway through Township of Port Pirie, and

building Wharves, &C., there. . . . .. . . .. .. . .. .. .. , . .

4. Screw Pile First Osdcr Lighthouse for Tipara Reef... .. .

5. Railway from Port Adelaide to the Semaphore, including

Bridge.. .. . , .. .. .. .. . . .. . . .. ,. . . . .. . . . .. .. .. . . . .

6. Telegraph from Port Sugusta to Eucla, vid Streaky Bay,

including branch to Port Lincoln. ., .. ., .. .. .. , .. ..

7. Telegraph to Cape Rorda, vid Yorke's Peninsula. . .. . .. .

8. Water Supply-Township of Moonta. .. . 6,000 0 0

Ditto ditto Port Pisie. . 11,000 0 0

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Total.. .. . .. . . ., , .. .. .. . .. . $400,000 0 0

Addaide : By authority, W, C. Cox, Government Printor,