Telegraph Loan Act 1872 (SA)

ANNO TRICESIMO QUINTO

A.D. 1872.

-- -"-p

No. 2.

An Act to make provision for the Raising of additional Funds for the

Construction c?f a Line of Tdegraph from Port Augusta to

Port Darwin.

[Assented to, 6th February, 1872.1

HEREAS it is expedient to authorize the Government to raise ~ r e a m ~ ~ e.

W the sum of One Hundred Thousand-Pounds, for the purpose

of completing the construction of the line of telegraph from Port

Augusta to Port Darwin-Be it therefore Enacted by the Governor of the Province of South Australia, with the advice and consent of

the Legislative Council and House of Assembly of the said Province

in this present Parliament assembled, as follows:

1. This Act may be cited for all pusposes as the " Port Augusta Short title.

and Port Darwin Telegraph Loan Act, 1872."

said Province, from time to time to issue bonds, not excecding in the ;G100,000. 2. It shall bc lawful for the Treasurer, for the time being, of the Tleasurer to mhe

whole the sum of One Hundred Thousand Pounds, for such amounts as he may deem expedient, and such bonds shall be in the form following, that is to say-

No. &' No. s

South Australian Government Securities.

I, the Treasurer of the Province of South Australia,

in consideration of the sum of Pounds, paid to me for public purposes, 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 pounds per

B centum

Port Augwia and Port Darwin' Telegraph Loa~i Act.-1872.

cmtum per annum; and such interest to be payable on the first day of January and the first day of July

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

Sealed with my Seal. Dated thc day of

one thousand eight hundred and

Signed, sealed, and delivered the presence of

NOTE,--Interest and principd 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 may be appointed by notice, to be given in the 8outh Aushliar~ Government Gazette [and in the London Gazette].

Interest.

3. The aaid bonds shall bear interest at the rate of Five Pounds per centurn per annum, and the interest and principal upon such bonds shall be payable and paid to the holder thereof, at such place and 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 fifty years from the time of the passing of this

Act.

Bonde to be sold. 4. The Treasurer shall cause every bond issued under this Act to

be sold for the best price, not being below par, that can be obtained

for the same.

Application of

moneya. 5. All sums of money raised and received by the Treasurer upon the security of the said bonds shall be carried by him to a sepkate and distinct account, to be applied for the purpose of completing the construction of a line of telegraph from Port Augusta to Port Darwin; and such sums of money shall be paid by the said Treasurer in such amounts and manner as the Governor by any warrant undcr his hand may, from time to time, authorize and direct.

Pa ent ofprincipal 6. The said Treasurer shall, and he is hereby required, in each and every year from the first raising of any sums of money under the authority hereof, until the whole of the amount so raised and

angntereat .

all intexest thereon, shall have been duly paid, to set apart such a

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.

ao~ernw mas authu- 7. The Governor may, from time to time, by warrant under his

rirre advance.	hand authorize the Treasurer to advancc and pay for the purposes of this Act any sums of money not exceeding in the whole the sum
hereby authorized to be raised, and any sums of money so advanced and paid shall be retained by the Treasurer out of any moneys raised by him under the authority hereof, 8. The

v

35" VICTORIB, No. 2.

Port Augusta and Port Darwin Telegraph Loan Act-1872.

8. The Treasurer shall in each year cause an account in abstract Annual account. Yearly return of re-

to be prepared of the whole receipts and of the expenditure of all	ceipts and expendi-
moneys advanced to him for the purposes of this Act for the year	ture.
peceding, under the several distinct heads of receipts and expen- diture, with a statement of the balance of such account duly audited and certified by the Auditor-General; and a copy of such account shall on or before the thirtieth day of June in each year be published in the Government Gazette.

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

to this Act.

JAMES FERGUSSON, Governor.

Adelaide : Bp suthority, W. 0. Cox, Government Printer, North-tenece.