Railway Loan Act of 1873 No 12a (NSW)

M No. 17. 36̂ VIC. 1873.

Railioay Local.

No. XVII.

R ailway Loax. An Act to enable the Government to raise a

Loan for Hallways. April, 1873.]

Preamble.	\ K T IIEREAS it is expedient to authorize the Government to borrow YY certain sums of money amounting in the whole to One
million nine hundred and one thousand live hundred pounds for the several purposes hereinafter specified Be it therefore enacted hy the Queen’s Most Excellent Majesty hy and witli the advice and consent of the Legislative Council and Legislative Assembly of Acw South Wales in Barliament assembled and hy the authority of the same as follows:—

Loan of i^lj9Gl,500.

1. I t shall he lawful for the Governor with the advice of the Executive Council to raise hy the sale of Debentures secured upon the Consolidated Bevenue Eund of the Colony and hearing inter(;st at a rate not exceeding four per centum per annum such several sums of money not exceeding in the whole the sum of one million nine hundred and one thousand five hundred pounds as may be required for the following several purposes not exceeding for the same respec­ tively the several sums respectively set against such purposes :—

E a ILWAYS :— •

For Eolling Stock manufactured in tlio Colony £G0,000 0 0

Trial Surveys ... ... ... ... ... 10,000 0 0

Towards the construction of a line from

Goulburn to Wagga AVagga 174 miles at

£6,500 a mile .........................................1,131,000 0 0

For the construction of the line Kelso to

Eathurst ... ... ... ... ... 60,000 0 0

For the construction of a line from Bathurst

to Orange 46j miles at £6,000 a mile ... 279,000 0 0

For the construction of a line from Murrurundi

to Tamworth COi miles at £6,000 per mile 361,500 0 0

---------------------£1,901,500 0 0

Sums borrowed and	2. All sums borrowed or authorized to he applied under this Act shall he paid to the Colonial Treasurer and shall he hy him placed to a separate credit to be called “ The Loan Eund” and no part of the money so borrowed shall on any pretence he paid used or applied directly or indirectly either temporarily or otherwise to or for any public purpose other than the purposes respectively to which the same is hereby directed to be applied.
applied how to be
accounted for.
Tvoa*uiror to pay	3. The said Treasurer shall issue and pay the said several sums for the purposes hcreinhefore mentioned in such manner and in such proportions as the Governor hy any warrant or order in writing under his hand aiid directed to the said Treasurer shall from time to time order and direct And the payments so to he made shall he charged upon and payable out of the sums so borrowed as aforesaid.
under G-overuor’a
Avarraiit
and to receive credit	4. The said Treasurer shall in his accounts from time to time he allowed credit for every sum of money paid hy him in pursuance of such warrant or order in writing as aforesaid And the receipt of each and every person to whom the same shall he so paid shall he a full and valid discharge to the said Treasurer in passing his said accounts for each sum therein mentioned and he shall receive credit for the same accordingly.
for same.

Short title. 5. This Act may he cited as the “ Bailway Loan Act of 1873.”

No. X V III.