Waratah Municipal Gas Loan Validation Act 1916 (NSW)
WARATAH MUNICIPAL GAS
LOAN VALIDATION ACT.
Act No. :-}<;, 191(3.
An Act to validate certain borrowings bv the council of the Waratah Municipality ; and for other purposes. [Assented to, 12th Sep- tember, 1916.]
T T T I I L l i L A S the council of the Waratah Municipality
? V borrowed, for the purpose of carrying out exten- sions to its gas works, the sum of three thousand pounds from the Commercial Bank of Australia, Limited, in contravention of the provisions of the statutes relating to local government, and it is necessary to validate such loan: And whereas the council is desirous of so borrowing a further sum of one thousand pounds for the same purpose, and it is necessary to validate such borrowing: Be it therefore enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Legislative Assembly of New South Wales in Parliament assembled, and by the authority of the same, as follows :—
1 . The Act may be cited as the "Wara t ah Municipal Gas Loan Validation Act, 1910."
2 .
2 . The loan by the Commercial Bank of Australia. the sum of three thousand pounds for the purpose of1* Limited, to the council of the Waratah municipality of
carrying- out extensions to the gas works of 1 ho said council is hereby declared to have been and to lie a, good, valid, and legal loan, and to have been lawfully contraeted by such council, and the securities »aven for such loan are hereby declared to have been and to he good and valid securities, and to have been lawfully given to secure the repayment of such loan.
3 . 0 ) rhhe said council is hereby authorised to borrow'
iwthout complying with the provisions of the Acts,'
relative to local government a sum of one thousand
pounds for the aforesaid purpose.
(2) Such borrowing shall be a good, valid, and
legal borrowing.
(;>) Any securities given for such borrowing shall be good and valid securities, and lawfully given to .secure the repayment of the money so borrowed.
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