S E Railway Loan Act 1872 (SA)

ANNO TRICESIMO QUINTO ET TRICESIMO SEXTO

VICTORIB REGIN&.

A. D. 1872,

No. 25.

An Act to uut?mize the issuing of bonds, for the purpose of raisi??g One

Hundred and Sixty ~housand	Pounds for the Construction of the
South-Bastern Railway.

[Assented to, 27th November, 1872.j

HEREAS i t is expedient to raise a sum not exceeding One Preambl@.

W Hundred and Sixty Thousand Pounds for the purpose of con-	structing a line of railway from the Township of Kingston, Lacepede
Bay, in the Hundred of Lacepede, to the Township of Naracoortc, in the Hundred of Karacoorte-Be it therefore Enactcd by the Governor of the Province of South Australia, with the advice and consent of the Legislative Council and Housc of Assembly of the said Province, in this present Parliament assembled, as follows:

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I. It shall be lawful for the Treasurer for the time being of the Tr~aurer raise &160,00;).

said Province, from time to time to issue and sell bonds for the pur- pose of raising a sum, not exceeding in the wholc Onc Hundred and Sixty Thousand Pounds, for such amounts as he may deem expedient; and such bonds shall be in the form following, that is to say-

NO. g NO. Form of bond.

South Australian Government Revenue Securities.

(South-Eas tern Railway.)

1, the Treasurer of the

Province of South Australia, in consideration of the sum of Pounds, paid to mc for the con- struction of the South-Eastern Railway, do hereby bind myself .to pay to the holder, for the time being of this present obligation, the sum of Pounds,

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and interest thereon at the rate of Four Pounds per cent. per annum; such interest to be payable on ihe first day of January and the first day of July in every year, and the principal to be paid on the first day of

, kn 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, payable at the Treasury, in Adelaide, South Australia, or [in London or in any other agreed place, to be declared at the time of issue] at such place as mav be appointed, by notice to be given in

the 8outh &stralian Goaernment Gazette [and in the

London Gazette'. Principal payable at the Treasury, in Adelaide, or& the option of the holder [in London or other agreed place1 if six months' notice of desire to that effect be given to the Treasurer in South Australia.

And every holder of any such bond, 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. -

Intereat at four per	2. The said bonds shall bear interest at the rate of Four Pounds per centum per annum; and the interest and principal upon such bonds shall be payable and paid to the holder thereof, at such place
oent.
When payable.	and at such time as may be specified or provided therein: Provided that the principal shall not be payable or paid before the expiration of twenty-five years, and the time appointed for payment thereof shall not extend beyond thirty-five years from thc time of the issue of the said bonds.

Application of

moneys.	3. All sums of money raised and received by the Treasurer upon the securities of the said bonds shall be carried by him to the credit of the Commissioner of Public Works, acting as Commissioner or Itailways, and shall be by him paid to the said C'ommissioncr, in such amount and manner as the Governor, by any warrant under his hand, may from time to time authorize and direct.
Payment of principal
and interest.	4. The said Treasurer shall, and he is hereby required, in each and every year from the first raising of any sums of money under authority hereof, until the whole amount so raised, and all interest thereon, shall have been duly paid, to set apart such sum as shall suffice to pay the amount of bonds redeemable 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 as aforesaid, in manner specified in such bonds.

5. The

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35" & 36" VICTORIAE, No. 25.

The South-Eastern Railway Loan Act.-1872.

5. The Governor may from time to time, by warrant under his Governor may ad-

hand, authorize the Treasurer to advance and pay to the said Corn-	vance money to be
missioner, for the purposes of this Act, any sums of money not exceeding in the whole the sum of' One Hundred and Sixtv Thou- sand Pounds; and any sums of money so advanced and piid shall
be retained by the Treasurer out of any moneys authorized to be
raised by him under the authority hereof.

6. This Act may be cited as the " South-Eastern Railway Loan short title o f ~ c t.

Act, 1872."

In the name and on behalf of the Queen, I hereby

assent to this Bill.

JAMES FERGUSSON, Governor.

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Adelaide : By authority, W. C. Cox, Government Printer, North-terrace.