Public Works Loan Act 1872 (WA)

WESTERN AUSTRALIA

ANNO TRIGESIMO SEXTO

VICTORLE REGIME

No. 3

An Act for raising the sum of Thirty-five Thousand

Pounds by Loan for the Construction of certain

Public Works. [Assented to 15th August, 1872.

HEREAS it is expedient to raise on loan thirty-five thousand

Wpounds to be expended on the public works enumerated in the

Schedule A to this Act annexed in the amounts mentioned respectively : Be it therefore enacted by His Excellency the Governor of Western Australia and its Dependencies, by and with the advice and consent of the Legislative Council thereof:-

1. This Act shall come into operation from and after the publication Time of coming

into operation of

thereof in the ' Government Gazette.' Act

2. It shall be lawful for the Governor of Western Australia to Governor to

raise for the construction of the works mentioned in Schedule A upon triliztinotizz

debentures to be issued on behalf of the Government of that Colony, for pubticiworks,

any sum or sums of money not exceeding in the whole thirty-five

thousand pounds, and the amount so borrowed shall be charged on the to be a primary

general assets and annual revenue of the Colony, and shall constitute charger revenue

a primary charge thereon.

36 VICTORLE. No. 3

Loan Acts

Issue of deben- 3. The moneys so borrowed shall be raised by the issue of debentures

tures,	for amounts not less than one hundred pounds, bearing interest at a
redeemable in	rate not exceeding six per centum per annum, and such debentures
twenty-eight
years	shall be paid off at par at the expiration of twenty-eight years from the date of the issue by a sinking fund equal to two per centum on the
Sinking fund	amount of the debentures so issued.
Coupons	4. To each debenture shall be attached coupons for the payment of interest half-yearly.

Debentures 5. All debentures issued in Western Australia shall be signed by

issuedolony

to bed by the Governor and Colonial Secretary of the Colony, and all debentures

Governor and issued in London shall be signed on behalf of the Government ofCo/onial Secre-

tary,	Western Australia by the Crown Agents for the Colonies for the time
in London by	being.
Crown Agents

Principal and	6. The principal moneys secured by the debentures issued under
interest payable

in London or

this Act and the interest accruing thereon shall be payable in London

Western Aus-

tralia at option

at the offices of the Crown Agents for the Colonies or at the Treasury

of purchaser

in Western Australia as the purchasers of the debentures shall elect at

the time of allotment.

Governor to 7. The Governor of Western Australia shall appropriate half-

appropriate sum yearly out of the general revenue of the Colony such sum as shall be

to pay interest

sufficient to pay the said. interest and sinking fund.

Sinking fund to 8. All sums paid to the account of the sinking fund and all interest

seances of	be invested in orproduce therefrom shall be invested in the names of Trustees in the
trustees purchase of Imperial, Indian or Colonial Government securities. The
Trustees to be nature of such securities and the selection of the Trustees shall be left
selected b y
Seeretary-of to Her Majesty's Principal Secretary of State for the Colonies.
State

9. The debentures with the coupons thereto respectively attached

Form f deben	o	-
ture is
London

sued in

which shall be issued in London shall be in the form set forth in

Schedule B to this Act annexed.

Short title 10. This Act may be cited and referred to as The Public Works Loan Act, 1E372:

FRED. A. WELD,

GOVERNOR.

SCHEDULE A

Moorings in Gage's Roads £1000

Improvements in Swan River Navigation . . . . . . • 2,330

Extension of Jetties, Albany, Bunbury, Busselton and Champion Bay • 3,340

Lighthouses at Champion Bay and the Irwin . . . . . • 2,500

Wall in Mandurah Estuary.	400
Construction of Telegraph Stations	1 870

Purchase of Telegraph Shares 12,000

New Gaol at Albany 885

Coast Survey 3,000

Extension of Fremantle Jetty . . ..... . 6,000

Preliminary Railway Surveys in the Champion Bay and Mining Districts 1,675

£35,000

36 VICTORIJE. No. 3

Loan Acts

SCHEDULE B

No. No.

£100. cIfif £100.

WESTERN AUSTRALIA PUBLIC WORKS LOAN,

£35,000,

Authorised by an Act of the Legislature, entitled The Public Works Loan Act, 1872,' by which the principal and interest are charged upon the general assets and annual revenue of the Colony.

First issue} No. to of £500 each.

In Bonds No. to of £200 each.

£ No. to of E100 each.

Twenty-eight years from and after the day of 1872,

the Government of Western Australia promise to pay the holder of this debenture

hundred pounds, value received. They further undertake

to pay the interest thereon half-yearly throughout the whole period at the rate of

pounds sterling per centum per annum. Both principal and interest

are preferentially charged upon the public revenue and assets of the Colony of

Western Australia by ' The Public Works Loan Act, 1872,' and are payable at the

offices of the Crown Agents for the Colonies in London.

Crown Agents for

the Colonies.

Registered,

Registrar.