Public Works Loan Act 1873 (WA)

37 VICTORLE. No. 19

Loan- Acts

WESTERN AUSTRALIA

AmiNO TBIGESIMO SEPTIMO

VICTORDE REGINA

No. 19

An Act for Raising the sum of One Hundred Thousand

Pounds by Loan for the Construction of certain

Public Works. [Reserved 15th July, 1873.

[Royal Assent proclaimed, 15th, January, 1874.

HEREAS it is expedient to raise on loan One Hundred Thou-

Win the Schedule A to this Act annexed in the amounts mentionedsand Pounds, to be expended on the Public Works enumerated

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 :-

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

into operation of thereof in the Government Gazette.'

Act

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

raise one hundred thou.raise for the construction of the works mentioned in Schedule A upon

sand 1)01Mb for debentures to be issued on behalf of the Government of that Colony,

public works any sum or sums of money not exceeding in the whole One Hundred

To be a charge Thousand Pounds, and the amount so borrowed shall be charged on

on genera/

revenue	the general assets and annual revenue of the Colony, and shall constitute a charge thereon to rank immediately after a charge imposed thereon by The Public Works Loan Act, 1872.'
Issue of deben-	3. The moneys so borrowed shall be raised by the issue of deben- tures for amounts not less than one hundred pounds, bearing interest at

tures,

redeemable in	a rate not exceeding five per centum per annum, and such debentures
twenty-eight	shall be paid off at par at the expiration of twenty-eight years from the

years

Sinking fund

date of the issue by a sinking fund equal to two per centum on the

amount of the debentures so issued.

Coupons

4. To each debenture shall be attached coupons for the payment

of interest half-yearly, and such interest shall be paid at the place and

by the person hereinafter mentioned on presentation of the coupon

Debentures to be

showing such interest to be due.

signed by

Governor and 5. All debentures shall be signed by the Governor and Colonial

Colonial Secre-

tary Secretary of the Colony.

Principal and 6. The principal moneys secured by each and every debenture

interest payable

in Western issued under this Act, and the interest accruing thereon, shall be pay-

Australia or at

places outside	able at the Treasury in Western Australia, or at such place and by
limits of	such person or persons outside the limits of Western Australia as the

Western Austra-

lia es Governor	Governor of this Colony may name in that behalf by notice to be
may name at	inserted in the Government Gazette,' as the holder of any such deben-

option of holder

of debenture

ture may at any time that such principal or any such interest becomes

due elect.

37 VICTORIEE. No. 19

Loan Acts

7. The Governor of Western Australia shall appropriate half-yearly Governor to ap- out of the general revenue of the Colony such sum as shall be gay :sir t" sufficient to pay the said interest and sinking fund.

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

interest or produce therefrom shall be invested in the names of ,'„einTserl "'

trustees in the purchase of Imperial, Indian, or Colonial Government trustees

securities.

9. The debentures with the coupons thereto respectively attached Form of debentures

shall be in the form set forth in Schedule B to this Act annexed.

10. This Act may be cited and referred to as ' The Public ]Works Short title

Loan Act, 1878.'

FRED. A. WELD,

GOVERNOR.

SCHEDULE A

Railway and Telegraph between Geraldton and Northampton . • £89,000

Telegraph between Newcastle and Geraldton . . . . • 11,000

2100,000

SCHEDULE B

No.	No.
:2100.	£100.

WESTERN AUSTRALIA PUBLIC WORKS LOAN,

2100,000,

Authorised by an Act of the Legislature, entitled The Public Works Loan Act 1873,' 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 2200 each.
No.	to	of £100 each.

Twenty-eight years from and after the day of 187 , the

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

hun red pounds, value received. They further undertake to pay the

interest thereon half-yearly throughout the whole period at the rate of assets of the Colony of Western Australia, ranking immediately after a primary charge of thirty-five thousand pounds imposed thereon by ' The Public Works Loan Act, 1872,' and are payable at the Treasury, Perth, in the Colony of Western Australia, or at as the holder of this debenture may at the time that such principal or at any time that any such interest becomes due elect.

Pounds sterling per centum per annum. Both principal and interest are by ' The

Governor.

Colonial Secretary.