Railway Funds Act 1874 (SA)

ANNO TRICESIMO SEPTIMO ET TRICESIMO OCTAVO

A. D. 1874.

No. 2.

An Act to Provide Funds for Railway and other purposes.

[Assented to, 12th August, 1874.1

HEREAS it is necessary to raise funds, by loan, for Railway Preamble.

W and other purposes-Re it therefore Enacted by the

Governor of the Province of South Australia, with the advice and

consent of the Legislative Council and Housc of Assembly of the

said Province, in this present Parliament assembled, as follows:

I. This Act m y be cited for all purposes as " The Loan Act, Short title.

1874."

'said Province, from time to time to issue bonds, not exceeding in bonds. 2. I t shall be lawful for the Treasurer, for the time being, of the Treaeurer may ieaue

South Australia, in consideration of the sum of

Pounds, paid to me for public purposes,

do hereby bind myself to pay to the holder for the

time being of this present obligation the sum of

Pounds, mid interest thereon after the

rate

the whole the sum of Six Hundred Thousand Pounds, for such

amounts as he may deem expedient, and such bonds shall be in the

form following, that is to say-

South Australian

Government Securities,

No. (Royal Arms,) No.

Authorized by Act of Parliament No. , 1874.

S * S I

1, the Treasurer of the Province of

3 7 O & 3 8 ~ 1 C T O R I B, No. 2. -

The Loan Act.-1874.

rate of Four Pounds per centum per annum; such interest to be payable on the first day of January and the first day of July in every year, and the principal to be paid on the first day of in the year

one thousand hundred and

Sealed with my seal. Dated the day of

one thousand eight hundred and seventy

Treasurer.

Signed, scaled, and dclivered in

the presence of

(Bond transferable by delivery.)

And the Principal and Interest shall be payable at the Treasury

in Adelaide, South Australia, or in London, at the Office of the

South Australian Government, the placc of payment being declared at time of sale, and duly notified on the bonds.

Interest.	3. The said bonds shall bear interest at the rate of Four Pounds per centum per annum. and the interest and principal upon such bonds shall be payable and paid to the holder thereof, at such place and time as may be specified or provided thereiu: Provided that the
Redemption.	principal shall not be payable or paid before the expiration of twenty years, and the time appointed for payment thereof shall not extend beyond thirty years from the time of the passing of this Act.
Applioation of
moneye.	4. The moneys hereby authorized to Le raised shall be received by the Treasurer, to be carried by him to a separate and distinct account, and shall be applied to the several purposes set forth in the Schedule hereto in the several amounts set opposite to such purposes; and such moneys shall be so applied by the said Treasurer in such amounts and manmu ss the Governor, by any warrant under his hand, countersigned by the Chief Secretary, may from time to time
authorize and direct.
Payment of principal	5. The said Treasurer shall, and is hereby required, in each and every half-year from the first raising of any sums of money under the authoricy hereof, until the whale of the amount so raised, snd all interest thereon, shall have been duly paid, to act apart such a sum as shall suffice to pay the amount of principal redeemable during the ensuing half-year, together with interest upon all bonds which shall then bear interest; and shall apply such sum in
and interest.
bonds.
such principal and interest as aforesaid, in manner speci ed in such ryment

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

rim advance.	hand, countersigned by the Chief Secretary, authorize the Treasurer to advance and pay for the purposes of this Act any sums of money
not exceeding in the whole the sum hereby authorized to be 'raised,
and any sums of money so advanced and paid, and also all sums of money already advanced and paid for the purpoaes of the works

or

37O & 38O VICTORIB, No. 2.

The Loan Act.--1874.

or any of them in the Schedule hereto, shall be retained by the Treasurer out of any moneys raised by him under the authority hereof.

7. The Treasurer shall, on or before the thirtieth day of September Yearly return of receipt and expendi-

in each vear. cause an account in abstract to be prepared of the twe. A L

whole receipts and of the expenditure of all rnoneyR advanced to him for thc purposes of this Act for the year preceeding, under the several distinct heads of receipt and expenditure, with a statement of the balance of such account duly audited and certified by the Auditor- General, and a copy af such account shall be forthwith published in the Government Gazette.

8. This Act shall be construed and be of the same effect as if ~ c t to takeeffectfrom

it had come into operation prior to the first day of July, one 1st July, 1874.

thousand eight hundred and seventy-fwr.

In the mrne and on behalf of Her Majesty, I hereby

assent to this Act.

A. I\/KJSGBAVE, Governor.

SCHEDULE

37" & 38O VICTORTIZ, No. 2.

The Loan Act.-1874.

SCHEDULE REFERRED TO.

;G S. d.

1. Railway Accommodation, North and Port Lines. .. . .. 86,000 O 0

2. Port Wakefield Extension Railway . . . . . .. . .. . .. . .. 56,000 0 0

3. Port Pirie and Gladstone Railway.. . . . .. .. . . .. . . . .. 147,000 0 0

4. Port Wakefield and Kadina Railway... . .. .. . . . , . . . . 115,000 0 0

5. Port Broughton and Barunga Range Railway .	.	.	.	.	.	.. 46,000 0 0
6. Completion Adelaide Waterworks Extension .	.	.	.	.	.	.	. 65,000 0 0

7. Port Augusta and Port Darwin Telegraph . .. . . .. .. . 85,000 0 0

p-.

S600,OOO 0 0

Adelaide : By authority, W, C. Cox, Go~ernment Printer, North-tenme.