Roads Loan Act 1864 (SA)

ANNO VICESIMO SEPTIMO ET VICESIMO OCTAVO

A.D. 1864.

No. 10. I

An Act to ndzorize the raising ?f dfowys for the cowstructio?a of

Main Roads.

[Assented to, 9th December, 1864.1

HEREAS it is expedient to raise by loan, secured on the Preamble,

W General Revenue of South Australia, funds for the con-	struction of Main Xoads-Be it therefore Enacted by the Governor-
in-Chief of the Province of South Ailstralia, with the advice and
consent of the Legislative Council and lIouse of Assembly of the
said Province, in this present Parliament assembled, as follows:

N

1. It shall be lawful for the Treasurer, from time to time, to issue Treaeurer to raise

bonds, not exceeding in the whole the sum of Two Hundred and	;E250,000.
Fifty Thousand Pounds, for such amounts as he may deem cxpedicnt,
and such bonds shall be in the form following, that is to say-

No. s No. Form of bond.

South Australian Government Revenue Securities.

(Main Roads)

I, the Treasurer of i;he Province of South Australia, in consideration of the sum of Pounds, paid to me for the purposes of the construction of main roads, do hereby bind myself to pay to the holder, for the time being, of this present obligation, the sum of Pounds, and interest thereon after the rate of five Der cent, aer annum; such

interest to be payable on'the first dLy of ~anuar) and the first day of July in every year, and the principal

to

2'7" & 28" VLCTORUE, No. 10,

Jfain Roads Loan A c t 1 864.

to be paid on the first day of	,	in the
year one thousand eight hundred and

Sealed with my seal. Dated the day of

one thousand eight hundred and

Signed, sealed, and delivered, in

the presence of

NOTE,-Interest md principal, payable at the Treasury, in Adelaide, South Australia, or [in London or in any other agreed place, to be declargd at the time of issui] at such place as may be appointed, by notice to be given in the Xouth Australian Government Gazette [and in the London Gazette].

And every holder of any such bonii, for the time being, shall be entitled to all rights and remedies, under and in respect of the same,

in the like manner as though he had been named therein as the

obligee thereof.

boar interest

at 6 per cant. 2. The said bonds shall bcax interest at the rate of Five Pounds

per ccntum pcr annum; and the interest and principal upon such bonds shall be payable and paid to the holder thereof, at such place and at such time as may be specified or provided therein: Provided

When payable.	that the principal shall uot be payable or paid before the expiration of twenty-6ve years, and the time appointed for payment thereof shall not extend beyond forty-five years.
Moneys raised by
bonds how applied.	3. All sums of money raised and reccived by the 'rrertsurer upon the securitv of the said bonds, shall bc carried by him to the credit of the ~ e & r a l Board of ~ a i n Roads for the &rposes of the con- struction of Main Roads, and shall be by him paid to the said Board in such amount and manner as the Governor, by any warrant
under his hand, may from time to time authorize and direct.

to be apart

annually for payment 4. It shall be lawful for the Treasurer, and he is hereby re-

ofprincipal md	quired, in each and every year from the first raising of any sums
interest.	of rnonev under the authoritv hereof, until the whole amounts so raised, abd all interest therean, shall have been duly paid, to set apart such sum as shall suffice to pay the amount of bonds redeem- able during such year, together with interest upon all bonds which shall then bear interest; and shall apply such sum in payment of such bonds and interest in manner specified in such bonds.

Short title, 5. This Act may be cited as " The Main Roads Loan Act."

In the name and on behalf of the Queen I hereby assent to

this Act,

D. DALY, Governor.