Public Works Loan Act of 1881 No 9a (NSW)
No. XXVIII.
An Act to enable the Government to raise a
Loan for Public Works. [6th April, 1881.]
millions eight hundred and seven thousand five hundred pounds for WHEREAS it is expedient to authorize the Government to borrow certain sums of money amounting in the whole to Seven the several purposes hereinafter specified either by the issue and sale of Debentures or in the form of Funded Stock in the Colony or in London Be it therefore enacted by the Queen's Most Excellent
Majesty by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled and by the authority of the same as follows :—
1. I t shall be lawful for the Governor with the advice of the
Executive Council to raise by the sale of Debentures secured upon
the Consolidated Revenue Fund of the Colony and bearing interest at a rate not exceeding four per centum per annum such several sums
of money not exceeding in the whole the sum of Seven millionseight hundred and seven thousand five hundred pounds as may be required for the following several purposes not exceeding for the same respectively the several sums respectively set against such purposes:—
R A I L W A Y S —
Southern and Northern Junction Railway— From Homebush to Waratah (double line) 9 5 miles
£ 2 , 0 0 0 , 0 0 0
0
0
Sydney to Wollongong and Kiama 6 8 miles 1 , 0 2 0 , 0 0 0 0 0 Groulburn to Cooma via Tarago Bungendore
and Queanbeyan 1 3 0 miles 1 , 4 3 0 , 0 0 0 0 0
Albury to the river Murray (double line) including moiety of cost of constructing the Bridge 1 1/4 mile
8 0 , 0 0 0
0
0
Orange to near Forbes via Molong 8 3 miles 7 0 5 , 5 0 0 0 0
Narrandera to Jerilderie 6 3 miles . . . ... 5 1 8 , 0 0 0 0 0 Cootamundra to Gundagai 3 4 miles ... 2 1 8 , 0 0 0 0 0
Murrumburrah to Blayney 1 0 8 miles . . . 1 , 2 6 0 , 0 0 0 0 0 From Wagga Wagga to Albury to complete
the Line 9 5 , 0 0 0 0 0 Alterations and Additions to Station Build
ings and Siding Accommodation to meet
increasing traffic inclusive of payments
made in 1 8 8 0 in anticipation of this vote 3 0 0 , 0 0 0 0 0
H A R B O U R S AND R I V E R S N A V I G A T I O N — 7 , 6 2 6 , 5 0 0 0 0 Towards construction of Southern Break
water Newcastle further sum ... ... 2 0 , 0 0 0 0 0 Towards construction of Breakwater Clarence
River 3 0 , 0 0 0 0 0 Towards completing Darling Harbour Wharf and Extension of Railway to deep waters
of Port Jackson 6 0 , 0 0 0 0 0 Towards Harbour Works Lake Macquaire
further sum 2 0 , 0 0 0 0 0
1 3 0 , 0 0 0 0 0
Roads A N D B R I D G E S
Bridge over Manilla River at Manilla ... 2 7 , 0 0 0 0 0 Bridge over the Gwydir or Big River at
Bingera 2 4 , 0 0 0 0 0
5 1 , 0 0 0 0 0
TOTAL £ 7 , 8 0 7 , 5 0 0 0 0
2. The L o a n so author ized as aforesaid m a v be negot iated
whol ly or in p a r t in t he form of funded stock in t he Colony or in
London a t such t imes and for such amoun t s as m a y be directed by t h e
| Governor w i th t h e advice of | the Execu t ive Council . |
3 . A n y stock created unde r th is A c t shal l be styled " N e w South Wales E o u r per cen t s . " and ownership in such stock shall be secured to t he holders thereof by inscript ion of the i r respective names and amoun t s in books of record k e p t for t he purpose .
4<. The principal s u m of such stock shall bear in te res t a t t he
r a t e of four per c e n t u m per a n n u m which interest shall be payable and
paid out of t h e Consolidated R e v e n u e F u n d half-yearly on the first
| day of | J a n u a r y and J u l y in each year. 5. Every t ransfer of t he said stock shall be effected by an en t ry |
in t ransfer books k e p t for t h e purpose and shall be s igned by t h e person m a k i n g t h e t ransfer or by his lawful a t to rney du ly appointed in wr i t ing unde r his h a n d and seal Provided t h a t in t h e event of any such inscribed stock be ing k e p t in London t h e mode of keeping t h e same and of m a k i n g transfers thereof m a y be in accordance wi th regula t ions m a d e or approved by t h e Commit tee of t he Stock E x c h a n g e or adopted by the Bank of Eng land .
(5. U p o n t h e negot ia t ion and a l lo tment of t he said stock a cer
tificate or certificates prepared and signed by the Colonial Treasurer or by such o ther person or persons as t h e Governor w i th t he advice of t he Execu t ive Council shall au thor ize and appoint shal l be issued to every allottee of such stock upon t h e paymen t by such al lot tee of t he a m o u n t due unde r t e rms of agreement tender or a l lo tment as t h e case
| m a y | be . |
7. Al l sums borrowed or au thor ized to be applied u n d e r this A c t shall he paid to t he Colonial Treasurer and shal l be b y h im placed to a separate credit to be called " The General Loan A c c o u n t . "
8. The " F u n d e d S t o c k " created by this A c t shall b e " G o v e r n
| m e n t | S t o c k " and | a " Government | S e c u r i t y " wi th in | t he | mean ing | of |
| t h e A c t twenty-s ix Victoria n u m b e r | twelve | ( the " Trus t P roper ty | A c t |
| of 1862 " ) and of t he A c t | seventeen Victoria n u m b e r | twenty-s ix or |
a n y A c t in force for t h e t ime be ing re la t ing to F r i end ly Societies a n d every corporat ion company or co-par tnership and all t rustees executors a n d adminis t ra tors whe the r incorporated established or appointed before or after t h e pass ing of this A c t and whe the r by act of parties or operat ion of law no t expressly forbidden to invest thei r funds in t he purchase of Government Stock or securit ies by the i r char te r Ac t of
| t e s t amen ta ry or other i n s t r u m e n t whatsoever respectively is a n d are | Incorpora t ion deed of se t t l ement or of par tnersh ip t rus t deed se t t l ement | |||||||
| hereby authorized and empowered to invest such funds in t he purchase of and to hold s tock created by th is A c t wi thou t i ncu r r ing or commi t t i ng | ||||||||
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| 9. Every person who shall forge fabricate or counterfei t wholly certificate unde r this A c t — o r who shall forge counterfei t a l ter add to obli terate or wilfully mu t i l a t e or deface any word le t te r or figure in or upon any such certificate—or who shal l fill u p wi th any word le t ter or f igure any b lank space in or upon any such certificate—or who shall m a k e use of or a t t emp t to m a k e use of w i th in t en t to defraud a n y such forged fabricated counterfeited al tered added to obli terated wilfully mu t i l a t ed or defaced or filled u p certificate as aforesaid shall be gui l ty of a felony and shall be liable to t he ex t r eme pun i shmen t appl icable | ||||||||
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10. The Governor wi th t h e advice of t h e Execu t ive Council may
| m a k e al l Regula t ions t h a t m a y be | deemed | necessary for car ry ing | this |
A c t
A c t in to effect A n d sucli Regu la t ions shall be publ i shed in t h e Govern ment Gazette and laid before Pa r l i amen t w i th in four teen days after t h e
publ icat ion thereof if Pa r l i amen t be t h e n s i t t ing and if P a r l i a m e n t be
no t s i t t ing t h e n w i th in fourteen days after t h e n e x t session thereof. 1 1 . The said Treasurer shall issue and pay the said several sums
for t h e purposes hereinbefore ment ioned in such m a n n e r and in such proport ions as t h e Governor by any w a r r a n t or order in wr i t ing unde r his hand and directed to t h e said Treasurer shal l from t ime to t ime order and direct A n d the p a y m e n t s so to be made shall be charged upon and payable out of t he sums so borrowed or applied as aforesaid.
12. The said Treasurer shall in his accounts from t ime to t ime be allowed credit for every sum of money paid by h i m in pursuance of such war ran t or order in wr i t ing as aforesaid A n d the receipt of any person to w h o m t h e same shall be so paid shall be a full and valid discharge to t he said Treasurer in passing his said accounts for each s u m there in ment ioned and he shall receive credit for t h e same accordingly.
13 . This A c t m a y be cited as t h e " Pub l i c W o r k s Loan A c t of
1 8 8 1 . "
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