Railway Loans Act 1857 No 30a (NSW)

No. XXXIV.

An Act to authorize the Government to raise cer­ tain Sums of Money by Loan to be expended in the extension of Eai lways in New South Wales in the Year 1857. [18th March, 1857.]

W H E R E A S it is expedient to enable t he Gove rnmen t to borrow the sum of th ree h u n d r e d thousand pounds for t h e ca r ry ing

on of Ra i lway W o r k s Be i t enac ted b y t h e Queen ' s M o s t Exce l len t

Majes ty by and w i t h t he advice and consent of t he Legis la t ive	Counci l
and Legislat ive Assembly of N e w South "Wales in Pa r l i amen t	assem­
bled and by the au tho r i t y of t h e same as follows :—

1. I t shall be lawful for t h e Governor with t h e advice of t he Execu t ive Counci l from t i m e to t ime to raise by t h e sale of Deben tu re s secured upon the Consolidated Revenue F u n d of the Colony a n d bear­ ing in teres t a t a ra te not exceeding five pe r c e n t u m per a n n u m such

s u m or sums of money n o t exceeding th ree h u n d r e d thousand pounds

as m a y be requ i red for t he ca r ry ing on and extension of	Ra i lway
W o r k s .

2. A l l sums borrowed unde r th i s A c t shall be paid to t h e

Treasurer of t he Colony and shall be by h i m placed to t he credit of the Consolidated R e v e n u e F u n d and shall be applied to t h e purpose for which t h e same shall have been raised and shal l be accounted for in the same m a n n e r as if they h a d formed p a r t of t he Cur ren t A n n u a l Revenue of t he Colony.