Public Works Loan Act of 1883 No 15a (NSW)

1883. 4G° VIC. No. 23. 139

Fuhlic Works Loan.

No. XXIII.

An Act to authorize the raising of a Loan for

the Public Service of the Colony and for	—
other purposes. [2nd May, 1883.]

Y T T H E llE A S it is expedient to authorize the Governor with the rroambic.

Y Y advice of the Executive Council to raise by way of Loan for

tlie Public Service of the Colony certain sums of money amounting in the whole to Two million pounds for the several purposes hereinafter specified and also to amend the “ Public AVorks Loan Act of 1870” in respect to the appropriation thereunder for the railways Orange to AA^ellington and AVellington to Bubho Pe it therefore enacted by the Queen’s Most Excellent Majesty by and with the advice and consent of tlie Legislative Council and Legislative Assembly of New South AValcs in Parliament assembled and by the authority of the same as follows :—-

1. It shall he lawful for the Governor with the advice of the Executive Council to raise by the sale of Debentures or the issue of Inscribed Stock secured upon the Consolidated Pevenue Eund of the Colony and hearing interest at a rate not exceeding four per centum per annum such several sums of money not exceeding in the whole the sum of Two million pounds as may he required for the following Public AEorks and Services hut not to exceed the several sums herein­ after respectively set against such Services that is to say :—■

fa,000,000,

lI.VlUiOURS AND E i VEU NAVIGATION—

Further towards improvements Clarence Eiver

Heads ................................................... 100,000 0 0

Furthertowards Improvements Lake Macquarie

Heads ... ... ... ... ... 20,000 0 0

Further for Prison Eiiildin^s Trial Bay ... 10,000 0 0

l)redij;in" Plant for the Richmond and other

Northern Rivers ... ... ... ... 25,000 0 0

--------------------- 155,000 0 0

S ewerage— '

Southern E.vtciision from original Sewerage Farm at Shea’s

Creek to Webb’s Grant including Syjihon and resumption

of Land at Rusheutters’ Bay Double Bay and AV̂ aterloo

tor Sewerage purposes ... ... ... ... ... 100,000 0 0

R at I. WAVS—

For providing Additional Rolling Stock and

the purchase of Machinery Tools &c. ... 5S0,000 0 0

For construction of Tramways including

Motors Rolling Stock Machinery &c. ... 100,000 0 0

Trial Surveys ... ... ... ... ... 40,000 0 0

Alterations additions and improvements at

Stations increased siding accommodation

and other purposes ... ... ... 400,000 0 0

Towards construction of a Line from North

Shore to Junction with Southern and

Northern Junction Railway ... ... 140,000 0 0

. Doubling Line from Parramatta to Penrith ... 85,000 0 0

1,045,000 0 0

E lectric T elegraph—

Construction and extension of Telegraph Line.s generally 100,000 0 0

T otal ...................................................... £ 2,000,000 0 0

2. All sums borrowed under tliis Act shall he paid to the Sums borrowed i.ow

Colonial Treasurer and shall he by him placed to a separate to he called “ The General Loan Account.”

3. All Stock or Debentures created or issued for the purposes of Trastres

this Act shall he “ Government Stock ” and a “ Government Security”

‘

within the meaning of the Act twenty-six A îctoria number twelve

(the

110 No. 24. 46° VIC. 1883.

Licensing A ct o f 1883.

(the “ Trust Property Act of 1862 ”) and of the Act seventeen Victoria number twenty-six or any Act in force for the time being relating to Priendly Societies and all corporations companies or co-partnerships and all trustees executors and administrators whether incorporated established or appointed before or after the passing of this Act not expressly forbidden to invest their funds in the purchase of Government Stock or securities by their charter Act of Incorporation deed of settlement or of partnership trust deed settlement testamentary or other instrument whatsoever respectively are hereby authorized and empowered to invest such funds in the purchase of and to hold stock created or debentures issued under or for the purposes of tliis Act without incurring or committing any breach of trust or of any condition restriction or provision contained in any such Act charter or other instrument Avhatsoever as aforesaid.

Regulalions to bo

made.

4. Tlie Governor with the advice of the Executive Council may make Regulations not being inconsistent ivith the provisions of the “ Inscribed Stock Act of 1883” for carrying this Act into effect And such Regulations shall he published in the Government Gazette and laid before Parliament within fourteen days after the publication thereof if Parliament be then sitting and if Parliament be not sitting then within fourteen days after the next Session thereof.

Treasurer to pay

under Governor’s 5. The said Treasurer shall issue and pay the said several sums

warrant.	for the purposes hereinbefore mentioned in such manner and in such proportions as the Governor by any warrant or order in Avriting under his hand and directed to the said Treasurer shall from time to time order and direct And the payments so to be made shall lie charged upon and payable out of the sums so borroAved or applied as aforesaid.
and to receive eredit
for same.	G. The said Treasurer shall in his accounts from time to time be allowed credit for CA'ery sum of money paid by him in pursuance of sueh Avarrant or order in Avriting as aforesaid And the receipt of any person to whom the same shall be so paid shall be a full and A’alid discharge to the said Treasurer in passing his said accounts for each sum therein mentioned and he shall receive credit for the same accordingly.
Combining two
Eadway votes of	7. The appropriation made by the “ Public Works Loan Act of 1876 ” for a raihvay from Orange to Dubbo in two sums namely three hundred and fifty thousand pounds for the portion of the line from Orange to Wellington and of tAvo hundred and sixty thousand pounds for the portion of the line Wellington to Dubbo shall bo read and construed as one sum of six hundred and ten thousand pounds for the whole line from Orange to Dubbo notwithstanding anything contained in the third section of the “ Loans Fund Amal"amation Act
1870.
of 1879.” "

Short title. 8. This Act may be cited as the “ Public Works Loan Act of

1883.”