Railway Loan Act of 1877 No 11a (NSW)

1877.	4 r VIC.	No. 4.
Hcdhcay Loan.
No. IV.

R ailw ay L oan.

All Act to enable the Government to raise a _

Loan for Hallways. July, 1877.]

~Y^THEREAS it is expedient to autliorizc the Government to borrow Preamble.

certain sums of money amounting in the whole to Two hundred and seven thousand three hundred and fifty-two pounds for the several purposes hereinafter specified Bo it therefore enacted hy the Queen’s Most Excellent Majesty hy 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 :—

f V

1.                I t shall he lawful for the Governor rvith the advice of the Loan of £207,352.

Executive Council to raise hy the sale of Lehentures secured upon the Consolidated Bevenue Eund of the Colony and hearing interest at a rate not exceeding four per centum per annum such several suras of money not exceeding in the whole the sum of Two hundred and seven thousand three hundred and fifty-two pounds as may he required for the following several purposes not excecaling for the same respec­ tively the several sums respectively set against such purposes :—

R a il w a y s :—

To complete the construction of a lino from

Groulburn to "VVagga Wagga ... ... £30,000 0 0

To complete the extension into Batlmrst	...	20,352	0 0
To complete the construction of a line from

Bathurst to Orange ... ... ... 77,000 0 0

To complete the construction of a line from

Murrurundi to Tamworth ... ... 80,000 0 0

£207,352 0 0

2. All sums borrowed or authorized to ho applied under this Sums borrowed and

Act sliall he paid to the Colonial Treasurer and shall he hy him ifioced to a separate credit to he called “ The Loan Eund” and no part of the money so borrowed shall on any pretence he paid used or tqiplied directly or indirectly either temporarily or otherwise to or for any public purpose other than tin' purposes respectively to which the same is hereby directed to he applied.

3. The said Treasurer shall issue and pay the said several sums Treasurer to pay

for the purposes hereinbefore mentioned in such manner and in such	*
proportions as the Governor hy 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 he made shall lie charged upon and payable out of the sums so borrowed as aforesaid.

4. The said Treasurer shall in his accounts from time to time And to receive credit

he allowed credit for every sum of money paid hy him in pursuance of

such Avarrant or order in Avriting as aforesaid And the receipt of

each and every person to Avhom the same shall be 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.

5. This Act may he cited as the “ llailway Loan Act of 1877.”

No. V.