Trans Australian Telegraph Act 1870 (SA)

ANKO TRICESIMO TERTIO

No. 2.

An ACE	to make provisio;~~ for the Raisiflg o f f i nds .for the Construc-
tion of a Line oJ' Telegruph Jmm Port Augusta to Port
Darwin.

[Assented to, 16th June, 1870.1

IIEREAS it is cxpcdicnt to authorize the Govcrnmcnt to raisc Preamble.

W the sum of One Hundred and Twenty Thousand Pounds, for

purpose of constructing a line of telegraph from Port Augusta, to

Port Darwin-Be it therefore Enacted by the Governor of the Pro- vince of South Australia, with the advice and consent of the Legis- lative Council and House of Assembly of the said Province in this present Parliament assembled, as follows:

1. This Act may be citcd for all purposes as the " Port Augusta Short title,

and Port Darwin Tclcgraph Act, 1870."

2. I t shall be lawful for the Treasurer, for the time being, of the Treasurer to raise

said Province, from time to time to issue bonds, not exceeding in the ~120,000.

whole the sum of One Hundred and Twenty Thousand Pounds, for

such amounts as he may deem expedient, and such bonds shall be

iu the form following, that is to say-

No. s No. .$

South Australian Government Revenue Securities,

Port Augusta and Port Darwin Telegraph.

I, the Treasurer of the Provirlce of South Australia,

in consideration of the sum of Pounds, paid to me for the construction of a line of Telegraph from Port Augusta to Port Darwin, do hereby bind myself to pay to the holder for the timc being of this

B present

33" VICTORIB, No. 2.

Port Auyusta atzd Port Dnrmin Telegraph Act, 1870.

present obligation the sum of Ponnds, and interest thereon after the rate of six youncls per centurn per annunl; 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 ycar onc thousand eight hundred and

Sealed with my Seal. Dated the day of

one tlrousancl eight huuclrccl ancl

Signed, scalcd, and dclivered in the presence of' No~z.--.hterest payable at the Treasury iu Adelaide, South Australia [or in Lo11do11 or in any other agreed place to be dcclarcd at the time of issue], at such place as may be appointccl by uotice, to Ire

given in the 80~1th Azrstralian Goccmnze?~ t Gazette

[and in the L O I Z ~ U ? ~ Guxette.]

Primipal payable at the Treasury in Adelaide, or at the option of the holder [ill Lolldon or other ngrccd placc],

if six months' notice of desire to that effect be given

to the Treasurer, in South Australia.

Intersst.

3. The said bonds shall bcar intcrcst at the rate of Six Pounds per centum per annum, ancl the interest and principal upon sach bonds s l d l be payable and paid to thc holdcr thcrcof', at such place and time as may be specified or provided therein: Providcd that the principal sllwll not be payable or paid beforc the expiration of twcnty-five years, and the time appointed for payment thcrcof shall not extend beyond fifty years from the time of the passing of this Act.

Bonds to be sold.

4. The Treasurer shall causc cvcry bond issued under this Act to be sold for the best price, uot bcing below par, that can be obtained for the same.

Application of	5. All sums of illorley raised and reccircd by thc Trcasnrcr upon the security of the said bonds s l d be carried by him to a separate and distinct account, to be applied for the purpose of carrjing out the construction of a line of telegraph from Port Augusta to Port Darwin; and such s u m of money shall be paid by the s a d Treasurer in such amounts and manner as the Governor by any warrant under his hand may, from time to time, authorize and direct.
0
payment of ~ r i n c i ~ a l
and interest.	6, The said Treasurer shall, and he is hereby required, in each and every year from the first raising of any sums of inoncy undcr the authority hereof. until the whole of the amount so raised, and all interest thereon, shall have been duly paid, to set apart such a, sum as shall suffice to pay the arnount of bonds redeemable during such year, together with interest upon a11 bonds wl~ich shall then bear interest; and shall apply such sum in payment of such bonds and interest as aforesaid, in manner specified in such bonds.

moneys.

7. The

33" VICTORIB, No, 2,

Port Augusta a?:d Port Dartuin Telegraph Act, 1870.

P - p-

7. T1lc overn nor may: from time to time, by warrant unckr his Go~crnor may nutho-

l i 7 ~ advance.

hand authorize the Treasurer to advance and pay for tlle purposes of tllis Act any sums of money not exceeding in the whole the sum lierebv a~~ tho r i z td to BC raiscd, and any sums of money so aclvanced ancl ia id shall be rctained by the Treasurer out of ally moneys raised by him uncler the autllority hxeof.

8. The Tre:tsurcr shall in each ycar cause an account in abstract n,,,,~ acc,ount.

of re-

t o be prepared of the whole receipts and of the expenc1ittu.e of all ceipts nnil expcndi-

moneys advanccd to him f o ~ the purposcs of this Act for thc J-ear ture.

prccecling, undcr the se~cra l distinct heads of receipts and cspen- diturc, with a stntcmeizt of the balance of such account ciulg nurlitccl ;md certified by the Auditor-General; and a copy of such account shall on or bef'orc the tllirt~-first day of Ueceiliber in each p r fbl-

lowing be publislied in the 'G'occrawze~~ t G%,-ette.

111 tllc ilaiiic and on bcllalf of the Queen I hereby nsscnt to

this Ac t.

.I Xhf ES FERGUSSON, Governor.

p-

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Adclaide : Printed by authority, by W. C. Cox, Governwent Printer, North-texracc.