Public Purposes Loan Act 1890 (SA)

ANNO QUINQUAGESIMO TERTIO ET QUINQUA-

GESIMO QUARTO

An Act to provide Funds to the amount of One Million

Five Hundred and Thirty-two Thousand Nine

Hundred and Thirteen Pounds, for the con-

struction of various Public Works and other

purposes.

[Assented to, December ~ 3 r d ~ 1890. l

W HEREAS it is necessary to provide funds by loan for the Preamble. construction of various public purposes-Be it Enacted by

the Governor of the Province of South Australia, with the advice and consent of the Legislative Council and ~ o u s e of Assembly of the Province of South Australia, in this present Parliament assem- bled, as follows:

1. I t shall be lawful for the Treasurer for the time being of the Trwurer mayiaaue

said province, from time to time, to issue and sell inscribed or regis- bonda.

tered stock, to be called South Australiau Stock," for a sum not

exceeding in the whole One Million Five Hundred and Thirty-

two Thousand Nine Hundred and Thirteen Pounds, in such mounts

as he may deem expedient.

2, All stock sold pursuant to this Act shall bear interest at a Nature of BM.

rate not exceeding Three Pounds Ten Shillings per centum per annum, to be paid half-yearly. The principal of such stock shall be paid st 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 aale.	Both
principal and interest shall be payable in London.

491 3, An

2 53" & 54" VICTOKIE, No. 491.

The Public Purposes Loan Act.-1 890.

Application of

wyn. 3, All sums of money raised and received by the Treasurer upon

the sale of such stock 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. 2 1 3 ~ of 1890, 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.

""mption~f bOnb	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.

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

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

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

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 the 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.

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

1890," and shall be incorporated and read as one with the In-

scribed Stock Act of 1882,"

In the name and on behalf of Her Majesty, I hareby ussent to

this Bill.

KINTORE, Governor.

SCHEDULE

53" & 54' VICTORIW, No. 491.

The Public Purposes Loan Acf-1890.

SCHEDULE REFERRED TO.

€

Railways ...................................................... 804,308

Waterworks ................................................. 210,125

Telegraph and Telephone Extension .............................. 25,727

Buildings. ..................................................... 4 0,077

Harbor Improvements .......................................... 4,956

Jetties and Wharves ............................................ 17,220

Improvemenls on Pastoral Leases under Crown Lands Acts .......... 307,500

Working Men's Blocks	.........................................	20,500
Construction of Roads	..........................................	102,500

81,532,913

Adelaide : By authority, C. E. BRIETOW, Government Prjnter, North-terrace.