Railway Loan Redemption Act of 1889 (NSW)

No. XXIV.

IvAiLWAY L oan

K ed em ptio n .	All Act to provide for the payment from the Consolidated Revenue Fund of an annual sum in reduction of the Public Debt for Railways, and to authorize the application thereof. [lOtli October, 1889.]
Preamble.	T ATIIEREAS it is expedient to make provision for the payment from
V V
the Consolidated llevcnuc Fund of an annual sum in reduction of the Public Debt for Railways, and to authorize the application thereof. 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 :—

.Annual pajinont

1. On the thirty-first day of December, one thousand eight be paid from the Consolidated Revenue Fund to the credit of a Special Trust Fund Account in a bank doing the Government husiness, and the like sum shall be paid to the said Special Trust Fund Account annually thereafter until a sufficient amount shall have accumulated to pay ofi: and extinguish One million pounds of the Public Debt for Railways, and the Colonial Treasurer shall so apply such accumulated

of £75,000 (o a

Special Trust Fund

hundred and ninety-one, the sum of seventy-five thousand pounds shall

Account.

Tu bo ap])licd in

funds and for no other purpose whatsoever. Provided always that such

payu’cnt of

debentures i.' ŝued

Special Trust Fuiid, to the extent of moneys at the credit tlicreof, shall

on account of

be available from time to time to pay olf and extinguish Government

Kailways.

Debentures issued on account of Railways and becoming due in the

meantime.

Short title. 2. This Act may be cited as the “ Railway Loan Redemption

Act of 1889.”