Public Purposes Loan Act 1875 (SA)

,4NNO TRICESIMO OCTAVO ET TRICESIMO NON0

A. D. 1875.

No. 24.

An Act to provide Funds for various Public Purposes.

[Assented - to, 30th November, 1875.1

HEREAS it is necessary to provide funds by loan for various PreamblB*

W public purposes-Be it Enacted by tlw 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:

Form of bond.

1. It shall be lawful for the Treasurer for the time being of the said Province, from time to time to issuc and sell bonds not exceeding in the whole the sum of Five Hundred and Fifty-two Thousarid Pounds, for such amounts as he may deem expedient,

and such bonds shall be in the form following, that is to say-

No. [Royal Arms.1 No.

South Australian Government Securities.

(Authorized by Act of Parliament No. of 1P75.)

S S

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

DD at

38" & 39" VICTORIAE, No. 24.

The Public Purposes Loan Act.-1 875.

-

at the rate of Four Pounds 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 nine hlrndred and

Sealed with my seal. Dated the day of

one thousand eight hundred and

Signed, sealed, and delivered in

the presence of 1

(Bond transferable by delivery.)

And the principal and interest shall be payable at the Treasury, in Adelaide, or in London, at the office of the South Australian Government-the place of payment being declared at time of such sale and duly notified on the bonds.,

Intereat at four per	2. The said bonds shall bear interest at the rate of Four Pounds per centum per annum; and the intermt and principal upon such bonds shall be paid to the holder thereof at such place and at such
cent.
When payable.	time as may be specified or provided therein: Provided that the principal shall not be payable or. paid before the expiration of thirty years, and the time appointed for payment thereof shall not extend beyond fifty years from the time of the issue of the said bonds.
Application of
moneys.	3. All sums of money r a k d and received by the Treasurer upon the securities of the said h n d s shall be carried. by him to separate
and distinct accounts, and shall be applied to theWfdlowing public
purposes, and to the extent herein set forth, that is to say- 2

l. Construction of main roads, the sum of .. .. .. 200,000

2. Erection of schoolhouses, the sum of .. .. .. .. . 60,000

3. Completing Kadina and Port TV akefield Railway,

thesumaf. .. .. .. .. .. .. .. .. .. .. .. . 55,000

4. Completing Kingston and Naracoorte Railway,

thesurriof. .. .. .. .. .. .. .. .. .. .. .. . 45,000

5. Erecting the Murray Bridge: so as to be able to

carry a railway, the sum of .. .. .. .. .. .. 100,000

6. Completing the first portion of the South-Eastern

...

Drainage Works .. .. .. .. .. .. .. . 17,000

7. Northern Territory Purposes .. .. .. .. .. .. 75,080

--

&352,000

And shall be so applied by the Treasurer in such amounts and manner as the Governor, by any warrant under his hand, counter- signed by the Chief Secretary, may from time to time authorize and direct.

Payment of	principal	4. The Treasurer shall, and he is hereby required, in each and every half-year from the first raising of any sums of money under authority hereof, until the whole amount so raised, and all interest
and interest.
thereon, shall have been duly paid, to set apart such sum a's shall suffice

381, & 39" VICTORIB, No. 24.

The Public Parposes Loan Act.--1875.

suffice to pay the amount of bonds redeemable during the ensuing half-year, together with interest upon all bonds which shall then bear interest; and shall apply such sum in payment of such bonds and interest as aforesaid, in manner specified in such bonds.

5. The Governor may from time to time, by warrant under his ~ ~; ~ z ", " ~ ~ Y be

hand, countersigned by the Chief Secretary, authorize the Treasurer to advance and pay to the proper Responsible Minister of the Crown, for the purposes of this Act, any sums of money not ex- ceeding in the whole the sum hereby 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 kin1 under the authority hereof.

6. The Treasurer shall on or before the thirtieth day of turn^.:

Septcmber in each year, cause an account in abstract to be prepared of the 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 expenditurc, 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 Government Gazette.

7. This Act may be cited as The Public Purposes Loan Act, Short title.

1875."

Xn the name and on behalf of Her Majesty, I hereby assent to

this Bill.

A. MUSGRAVE, Governor.

a. - +

Adalaida : By authoritg, W. C. Cox, Government Printer, North-terrace.