Railway Supplementary Loan Act 1875 (WA)

WESTERN AUSTRALIA

ANNO TRIGESIMO NONO

VICTORIA, REGINA]

No. 21

An Act for raising the sum of Twenty-six Thousand Pounds by Loan for the completion of the Railway between Geraldton and Northampton.

[Reserved 3rd January, 1876.

[Royal Assent proclainzed 23rd December, 1876.

Preamble

WHEREAS by ' The Public Works Loan Act, 1873,' the

Governor of the Colony of Western Australia was authorised

to raise on loan the sum of One hundred thousand pounds, of which

the sum of Eighty-nine thousand pounds was to be devoted to the

construction of a Railway between Geraldton and Northampton ; And

whereas the said sum of Eighty-nine thousand pounds is insufficient

to provide for the completion of the said railway, and it is expedient

to raise on loan the further sum of Twenty-six thousand pounds for

the completion of the same : Be it therefore enacted by His Excellency

the Governor of Western Australia and its Dependencies, by and

with the advice and consent of the Legislative Council thereof, as

follows:

Time of coming 1. This Act shall come into operation from and after the pro-

into operation of clamation in the' Government Gazette ' of Her Majesty's assent to the

Act

same.

Governor to raise 2. It shall be lawful for the Governor of Western Australia to

twenty-six thou- raise, for the completion of the railway in course of construction

sand pounds for

completion of	between Geraldton and Northampton, upon debentures to be issued
Railway ;	on behalf of the Government of that Colony, any sum or sums of money not exceeding in the whole Twenty-six thousand pounds ; and the amount so borrowed shall be charged on the general assets and

to be a charge on annual revenue of the Colony, and shall constitute a charge thereon, General Revenue to rank immediately after charges imposed thereon by The Public

Works Loan Act, 1872,' and ' The Public Works Loan Act, 1873;

Issue of deben- 3. The moneys so borrowed shall be raised by the issue of deben-

tures, tures for amounts not less than One hundred pounds, bearing interest

at a rate not exceeding five per centum per annum ; and such deben-

tures shall be paid off at par at the expiration of twenty-eight years

39 VICTORLE. No. 21

The Railway Supplementary Loan Act, 1875

from the date of the issue by a sinking fund equal to two per centum redeemable in	twenty ight	-e
on the amount of the debentures so issued.	years.

4. To each debenture shall be attached coupons for the payment 8"amg fund

of interest half-yearly ; and such interest shall be paid at the place

Coupons

and by the person hereinafter mentioned, on presentation of the

coupon showing such interest to be due.

5. All debentures shall be signed by the Governor and Colonial Debentures to be signed by

Secretary of the Colony. Governor and

6. The principal moneys secured by each and every debenture Zo,l .rial

issued under this Act, and the interest accruing thereon, shall be Principal and

payable at the Treasury in Western Australia, or at such place and Interest

by such person or persons outside the limits of Western Australia lAuste'raliar, or at

as the Governor of this Colony may name in that behalf by notice filnag:077estra

to be inserted in the Government Gazette,' as the holder of any such Australia, as

debenture may at any time that such principal or any such interest ,Glao,vneer:ftrompAyon

becomes due elect.	of holder of
debenture

7. The Governor of Western Australia shall appropriate half- Governor to

yearly out of the General Revenue of the Colony such sum as shall aPPmPFiath	to pay Interest
be sufficient to pay the said interest and sinking fund.

8. All sums paid to the account of the sinking fund, and all sicking fund to

interest or produce therefrom, shall be invested in the names of iblemir'llese:tfelii

-uns.

Trustees in the purchase of Imperial, Indian, or Colonial Government tees

Securities.

9. The debentures, with the coupons thereto respectively attached, Form of deben- tures

shall be in the form set forth in the . Schedule to this Act.

10. This Act may be cited and referred to as The Railway short title

Supplementary Loan Act, 1875.'

WILLIAM C. F. ROBINSON,

GOVERNOR.

SCHEDULE

No. No.

-WESTERN AUSTRALIA RAILWAY SUPPLEMENTARY LOAN, 226,000

Authorised by an Act of the Legislature, intituled 'The Railway Supplementary

Loan Act, 1875,' by which the Principal and Interest are charged upon the

general Assets and Annual Revenue of the Colony.

First Issue 1 No. to of 2500 each.

In Bonds No. to of 2200 each.

s No. to of £100 each.

Twenty-eight years after the day of 187 , the Government

of Western Australia promise to pay the holder of this Debenture hundred pounds, value received. They further undertake to pay the interest thereon half- yearly throughout the whole period at the rate of pounds sterling per

centum per annum. Both principal and interest are by 'The Railway Supplemen

tary Loan Act, 1875,' constituted a charge upon the public revenue and assets of the Colony of Western Australia, ranking immediately after charges amounting

39 VICTORI2E. No. 21

The Railway Supplementary Loan Act, 1875

in the aggregate to the sum of One hundred and thirty-five thousand pounds im- posed thereon by ' The Public Works Loan Act, 1872,' and The Public Works Loan Act, 1873,' respectively, and are payable at the Treasury, Perth, in the Colony of Western Australia, or at as the holder of this Deben- ture may, at the time that such principal or at any time that any such interest becomes due, elect.

Governor.

Colonial Secretary.