Public Purposes Loan Act 1886 (SA)

ANNO QUADRAGESIMO N O N 0 ET QUINQUAGESIMO

VICTORIB REGINB.

No. 391.

An Act to provide Funds to the amount of Eight

Hundred and Fifty Thousand Pounds for

various Public Works, and other purposes.

[Assented to, Novetnber 17th~ 1886.1

HEREAS it is necessary to provide funds by loan for various Preamble.

W public purposes-Be it Enacted by the Governor of the

Provinse of South Australia, with the advice and consent of the

Legislative Council and House of Assembly of the Province of

South Australia, in t,he present Parliament assembled, as follows:

1. It shall be lawful for the Treasurer for the time being of the may iafiue

for bonb.

said province, from time to time, to issue and sell bonds a sum shall be in the form following, that is to say-

not exceeding in the whole Eight Hundred and Fifty Thousand

Pounds, paid to me for public purposes, do hereby bind

South Australian Government Revenue Securities. F O ~ of bond.

No. [Royal Arms.] No.

(Authorised by Act of Parliament, No. of 1886.)

S S

I, the Treasurer of the Province of South Australia,

in consideration of the sum of

49' & 50° VICTOKIJE, No. 391.

The Public Pwposes Loan Act. - 1886.

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bind myself to pay to the holder for the time being

of this present obligation the sum of

Pounds, and interest thereon at the rate of

per centum per annum; such interest to be payable on the first day of April and the first day of October in every year, and the principal to be paid on the first day of, in the year one thousand nine hundred and

Sealed with my seal. Dated the day of

one thousand eight hundred and

Signed, sealed, and delivered in

the presence of

(Bond transferable by delivery.)

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

interest not to exceed

four per cent, 2. The said bonds shall bear interest at a rate not exceeding

Four Pounds per centum per annum; and the interest and principal upon such bonds shall be paid to the holder thereof at such place and at such time as may be specified or provided therein: Pro-

W ben payable. vided 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 3. All sums of money raised and received by the Treasurer upon

moneys.

the securities of the said bonds shall be carried by him to separate and distinct accounts, and shall be applied to the several purposes set forth in the Schedule hereto, details of which are contained in Parliamentary Paper No. l l~ of 1886, and to the extent therein set forth; 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 authorise

and direct.

Redemption of bon as. 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 thereon, shall have been duly paid, to set apart such sum as shall 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 aforemid, in manner specified in such bonds.

Salaries to be nub- 5. So much of the moneys raised under this Act as may be

mitted to Parliament. required for salaries of officers for the said public works hereby authorised to be constructed shall be annually submitted to Parlia- ment.

49' & 50" VICTORIE, No. 391.

The Public Purposes Loan Act.-1 886.

6. The Governor may, from time to time, by warrant under his AavanceE*

hand, countersigned by the Chief Secretary, authorise the Treasurer to advance and to pay to the proper Responsible .Minister of the Crown, for the purposes of this Act, any sums of money not exceed- ing in the whole sum hereby authorised to be raised; and any sums of money so advanced and paid shall be retained by the Treasurer out of any moneys raised by him under the authority hereof.

7. The Government shall not expend any portion of the Two Moneynottobe expendedIwithout

Hundred Thousand Pounds hercby authorised to be borrowed for

of Par-

water conservation without first having obtained the consent of liament.

Parliament to such expenditure.

8, This Act may be cited as a The Public Purposes Loan Act, short title.

1886,"

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

Bill.

WILLIAM F. C. ROBINSON, Governor.

49' & 50' VICTORIE, No. 391.

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The Public Purposes Loan Act.-1886.

SCHEDULE.

£

Beetaloo Waterworks ............................................ 120,000

Water Conservation. ............................................ 200,000

New Parliament Buildings ........................................ 50,000

Improvements on Pastoral Leases under Crown Lands Acts ............ 450,000

Drainage, South-Eastern l)is trict ..................................	13,000
Railway Accommodation ........................................	17,000

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$850,000

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W. Adehide: By authority, E. SPILLER Government Printer,