Repayments of Loans Act of 1888 (NSW)

204 IN̂ o. 16. 52̂ ̂VIC. 1888.

Hepayment o f Loans.

No. XVI.

R epayment of

Loans. All Act to authorize the raising of a Loan

for the Repayment of Loans. [24̂ /̂ July,

1888. ] * '

Preamble.

1 ITIIEH EA S it is expedient to autliorize the Governor, with the VV aelvice of the Executive Council, to raise hy Avay of Loan for

the Eepayment of Loans of the Colony, certain sums of money amount­ ing in the Avhole to One million three hundred and ninety thousand six hundred pounds for the scA'cral purposes hereinafter specified. Be 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 Ncav South Wales in Parliament assembled, and hy the authority of the same, as folloAvs :—

Loan of £1,300,600.

1. I t shall he laAvful for the Governor, with the advice of the Executive Council, to raise hy the sale of Debentures or the issue of Inscribed Stock, secured upon the Consolidated Bevenuc Eund of the Colony, and bearing interest 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 three hundred and ninety thousand six hundred pounds, as may he required for the Bepayment of Loans, that is to say :—

To M EET 5 P E E CENT. D E B E N X r E E S FALLING DUE

1 s t J u l y , 1 8 8 8 , v i z . :— ^

Sewerage—17 ATctoria, No. 34 ... ... £24,000 0 0

Sydney W ater Siipjdy— 17 Victoria, No. 3-5	00,700 0 0
Public AVorlis— 19 Victoria, Nos. 38 and 40	130,800 0 0
Land and Immigration Debentures—20

Victoria, No. 1 ... ... ... ... 3,200 0 0

Public VV̂ orks— 20 V'ictoria, No. 33 ... 10,000 0 0

Eailways— 20 Victoria, No. 34 ... ... 204,.500 0 0

499,200 0 0

To M EET 5 P E E CENT. D e BENTUEES FA L L IN G DUE

IN 1889, T IZ . ; —

In	January—
Eailways— 20 Victoria, No. 34 ... ... £34,000 0 0
Debentures— 22 Victoria, Nos. 5 and. 20 ... 145,000 0 0
Eailwavs and Public W orks—22 A'ictoria,

No. 22 398,400 0 0

In July—

Public VV'orks— 20 Victoria, No. 33 ... 2,000 0 0

Eaihvays and Public W orks— 22 Victoria,

No. 22 312,000 0 0

--------------------------- 891,400 0 0

Total............................ £1,390,000 0 0

Sums borrowed bow

to be accounted for.	2. All sums horroAved under this Act shall he paid to the Colonial Treasurer and shall be by him placed to a separate credit to be called “ The General Loan Account.”
Power to Trustees	3. All Stock or Debentures created or issued for the purposes of this Act shall he “ Government Stock” and a “ Government Security” AAuthin the meaning of the Act tAventy-six Victoria number tAvelve (the “ Trust Property Act of 18G2”), and of the Act seventeen Vietoria number twenty-six, or any Act in force for the time being relating to Eriendly Societies, and all corporations, comjianies, or co­ partnerships, and all trustees, executors, and administrators, Avhether incorporated, established or appointed before or after the passing of
to invest.

tliis

1888. 52° VIC. No. 17. 205

Fuhllc Works Loan.

this Act not expressly forhidden to invest their funds in the pnrcliasc of Govermnent Stock or securities hy their chartci’, Act of Iircorpora- tion, deed of settlement or of partnership, trust, deed, settlcincnt, testamentary or other instrument Avhatsoevcr, respectively, arc hereby authorized and empowered to invest such funds in the purchase of, and to hold stock created, or debentures issued under or for the purjioses of this Act without incurring or coinmitting any breach of trust, or of any condition, restriction, or provision contained in any such Act, charter, or other instrument whatsoever, as aforesaid.

4. The Governor, Avith the advice of the Executive Council, may Rejuitiiions lo bo

make llcgulations, not being inconsistent AAdtli the proAusions of tlu;"'*'’'’’

“ Inscribed Stock Act of 1883,” for carrying this Act into effect. And

such Ilcgnlations shall be ])nblisbed in the Govermnent Gazette and

laid before Parliament AA'ithin fourteen days after the publication

tbereof, if Parliament bo then sitting, and if Parliament be not sitting,

tben Avitbin fourteen days after the next Session thereof,

5. The said Treasurer shall issue and ]>ay the said scu'cral s u m s Tieasuroi’ to pay

for the purposes licreinbeforc mentioned, in such manner and in such	^
jiroportions as the Governor hy any Avarraut or order in AAwiting, under
his hand and directed to the said Treasurer, shall from time to time order and direct. And the payments so to be made sball be charged upon and payable out of the sums so borroAA'cd or applied as aforesaid.

G. The said Treasurer shall in his accounts from time to time and to iccoivc credit

be alloAved credit for every sum of money paid by him in purstranett of such Avarrant or ordt'r in AA'riting as aforesaid. And the receipt of any ptu’son to AAdiom the same shall be so paid shall l)e a I'ull and A'alid discharge to the said Treasurer in passing his said accounts for each sum therein mentioned, and lit' shall rceci e credit for the same accordingly.

8. This Act may be cited as the “ Kepayment of Loans Act of shoittiUo.

1888.”