Public Purposes Loan Act 1888 (SA)

ANNO QUINQUAGESIMO PRIM0 ET QUINQUAGESIMO

SECUNDO

VICTORIB REGINB.

A.D. 1888.

No. 449.

An Act to provide Funds to the amount of One Million Three Hundred and Seventeen Thousand Eight Hundred and Eighty Pounds for various Public Works, and other purposes.

[Asseded to, Decembev 8th, 1888.1

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

W public yurposes-Be it Enacted by thc Governor of the

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

Legislative Council and House of Assembly of the Province of

South Australia, in the present Parliament assembled, as follows:

said province, from time to time, to issue and sell inscribed or regis- bonds. l, It shall be lawful for the Treasurer for the time being of the Treasurer may iss~re

tered stock, to be called " South Australian Stock," for a sum not exceeding in the whole One Million Three Hundred and Seventeen Thousand Eight Hundred and Eighty Pounds in such amounts as he may deem expedient.

2, All stock sold pursuant to this Act shall bear interest at a Natureof stock.

rate not exceeding Four Pounds per centum per annum, to be fixed at the time of sale, and to be paid half-yearly. The principal of such stock shall be paid at a date to be fixed at the time of sale, and not being less than twenty-five years, nor more than fifty years, after the time of sale. Both principal and interest shall be payable in London.

3, All sums of money raised and received by the Treasurer upon ~ p p ~ i a t i o n of

the sale of such stock shall be carried by him to separate and

449 distinct

51" & 52" VICTOIIIE, No. 449. -

The Public Purposes Loan Act.-1 888.

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. 10213 of 1888, 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, countersigned by the Chief Secretary, may from time to time authorise and direct.

12demptionof bonds.

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 stock payable or redeemable during the

ensuing half-year, together with interest upon all stock which shall

then bear interest; and shall apply such sum in payment of such

stock and interest aforesaid.

8alariea to be sub-

mitted to Parliament.

5, So much of the moneys raised under this Act as may be required for salaries of officers for the mid public works hereby authorised to be constructed shall be annually submitted to Parlia- ment.

6, The Govcrnor may, from tiqe to time, by warrant under his

hand, countersigned by the Chief Secretary, authorise the 'r'reasurer to advance and to pay to the proper Responsible Minister of the Crown, for the purposes of this Act, any sums of money not escccd-

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.

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

1888," and shall be incorporated and read as one with the L	In-	'
scribed Stock Act of 1882."

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

this Bill.

WM. C. F. ROBINSON, Governor.

SCHEDULE

51' & 5z0 VICTORIfi, No. 449. --

The Plrb7ic Purposes Loan Act.-1888.

SCHEUULE REFERRED TO.

fi

Railwagfi .................................................... 491,055

WTntcrworks ................... .. ............................ 504,000

Drainage .................................................... 100,800

Telegraph and Telephone Exterlsioil .............................. 22,05 1

Buildings, &c. ...................................... .. ........ 6,300

Harbor Improvements ....................................... .... 25,249

Construction of Roads .......................................... 105,000

Defences ...................... .. ........................... 63,425

--

E1,317,880

-- -- -- -. - - -

Adelaide: By authority, H. F. LEADER, Government Printer,