32 VICTORIA, Consolidated revenue of the colony of Victoria and the growing produce thereof, such No. 331. interest being payable half-yearly on the first day of January and the first day of July in every year (dividend coupons for which are annexed) at London. Dated the day of 18 Treasurer. Entered at the Audit Office in the Register of Debentures, folio this day of (1.) Railway from Essendon to the Upper Murray at Belvoir, including a ... ... ... ... ... 1,720,000 239,000 £1,959,000 THIRD SCHEDULE. £ (1.) For purchase and repair of Essendon line with branch to the Race ... ... (2.) Contingent outstanding claims in respect of State Railways ... 42,000 27,000 PUBLIC MONEYS (PUBLIC LOAN 1868). An Act to authorize the raising of Money for [29th September 1868.] HEREAS it is expedient to raise by loan, secured on the consolidated revenue of Victoria, funds for the completion and construction of Works for supplying water to divers parts of Vic No. 332. toria, and for completing the Alfred graving-dock at Williamstown, 32 VICTORIA, and for repaying to the consolidated revenue moneys heretofore or hereafter to be advanced for or on account of any of those purposes: Be it therefore enacted by the Queen's Most Excellent Majesty by and with the advice and consent of the Legislative Council and Legislative Assembly of Victoria in this present Parliament assembled and by the authority of the same as follows: 1. This Act shall be called and may be cited as "The Public Title of Act. Works Loan Act 1868." 2. It shall be lawful for the Governor in Council from time to Debentures may time or at any time to cause to be made out and issued debentures, (a) be issued. secured upon the consolidated revenue of Victoria and the growing produce thereof, for such sum or sums of money not exceeding Six hundred and ten thousand pounds sterling in the whole as may be required for all or any of the several purposes hereinafter more particularly expressed-that is to say : (1.) For the completion or construction of works for supplying (11.) For completing the Alfred graving-dock at Williams town. (III.) For repaying to the consolidated revenue divers sums interest on de bentures. 3. All debentures made out and issued under the authority Amount of and herein before contained shall be for any sum not less than Fifty pounds, and shall bear interest at the rate of Five pounds per centum per annum payable half-yearly, and shall be redeemable at the expiration of twenty-five years from the date thereof. All of such debentures and the interest thereon shall be payable in Melbourne. 4. All debentures made out and issued under the authority herein before contained shall be and be deemed to be a primary charge (next in order to any debentures issued or to be issued under the authority of any Act of the Parliament of Victoria, and made by any such Act a primary charge) upon all the revenues of Victoria from whatever source arising, which shall be subject to the control of the Legislature thereof; and all interest thereon, and the principal when due shall be paid by the Treasurer of Victoria out of such revenues under warrants to be issued by the Governor in priority of (a) Debentures issued under this Act may be converted into stock by 36 Vict. No. 439 s. 15, "Public Moneys (Debentures Conversion)," post, Debentures to be charged on the p. 2194; and see also 36 Vict. No. 428 Schedule I., "Public Moneys (Stock)," post, p. 2186. No. 332. 32 VICTORIA, all demands except the charges and expenses of the collection of such revenues, and except the demands of the holders of debentures as aforesaid issued or to be issued under the authority of any such Act as aforesaid: Provided that nothing herein contained shall be construed to prejudice in any way the demands either for principal or interest of the holders of any of such last-mentioned debentures. Form of deben tures. Schedule. Transfer by delivery. Sale of deben-tures. Loan to form part of revenue. Re-purchase of debentures. 5. All debentures made out and issued under the authority herein before contained shall be in the form set forth in the Schedule hereto, and shall bear date on the day of the issuing thereof, and shall be numbered arithmetically, beginning with the number one and so proceeding in an arithmetical progression wherein the common difference shall be one. 6. The said debentures shall be payable to the bearers thereof, and shall pass by delivery only and without any assignment or endorsement; and the bearer of every such debenture shall have the same rights and remedies as if he were expressly named therein. 7. The Treasurer of Victoria may, under such regulations at such times and places in such sums on such conditions and in such manner as the Governor in Council may direct, offer or cause to be offered for sale such debentures. 8. All moneys raised under the authority herein before contained shall be paid to the Treasurer of Victoria, and shall be by him placed to the credit of an account to be called "The Public Works Loan Account," and shall and may be applied, and for the purposes of "The Waterworks Act 1865" are hereby appropriated subject to the conditions hereinafter mentioned, to the purposes hereinafter mentioned, that is to say : (1.) For the completion or construction of works for supplying water to divers mining agricultural and other districts and to towns in Victoria, in accordance with the provisions of "The Public Works Statute 1865" and "The Waterworks Act 1865," and for the purchase of land materials and plant required for or in connection therewith, and for the purchase of all or any part of the undertaking lands and works and property of any company established for supplying any place with water, and for completing works in connection with the Yan Yean water supply, and for repaying to the consolidated revenue divers sums of money heretofore or hereafter to be advanced for or on account of any of the aforesaid purposes, a sum not exceeding Three hundred and sixty thousand pounds: (II.) For completing the Alfred graving-dock at Williamstown, and for repaying to the consolidated revenue divers sums of money heretofore or hereafter to be advanced for or on account of such work, a sum not exceeding Two hundred and fifty thousand pounds. 9. The Governor in Council may from time to time authorise the Treasurer to re-purchase the said debentures to the amount of such moneys as the Parliament of Victoria may by any Act appro No. 332. priate for that purpose, and all debentures so re-purchased shall, 32 VICTORIA, except as hereinafter provided, be forthwith cancelled and shall not be re-sold under any pretence or circumstance whatever. advance from of loan. 10. It shall be lawful for the Governor to issue and apply from Governor may time to time out of the consolidated revenue any sum or sums of consolidated remoney not exceeding One hundred thousand pounds towards any of venue on account the purposes to which the moneys to be raised by the authority of this Act shall be applicable, and any sum or sums of money which have been or which may hereafter under the authority hereof or of any Act authorising the issue and application or appropriation of any moneys be issued and applied to any of the purposes aforesaid shall from time to time be repaid out of the moneys to be raised hereunder into the consolidated revenue. moneys to be 11. It shall be lawful for the Treasurer by the direction of the Public trust Governor in Council to invest the moneys from time to time lying invested in dein the Treasury to the credit of "The Trust Fund;" or to the credit bentures. of any fund or assurance fund, for any purpose partaking of the nature of a public trust, in the purchase of debentures to be issued under this Act of equal value, and from time to time by the direction Power to sell. aforesaid to sell any or all of the said debentures, and to apply the proceeds thereof towards meeting any demands on any of the said trust or assurance funds. and contingencies Parliament. 12. So much of the money raised under this Act as shall be Salaries wages required for salaries wages and contingencies incident to and required under this Act to for the purposes hereinbefore mentioned shall not be issued or applied be sanctioned by towards the payment of such salaries wages and contingencies except in such sums as shall have been first sanctioned by an Act of Parliament. to be prepared mitted for sanc lative Assembly. 13. The Treasurer shall in every year during which any part Annual accounts of the said sum of Six hundred and ten thousand pounds hereby and estimate of authorized to be raised by debentures under this Act shall remain expenditure subunexpended, cause to be prepared an account of the moneys raised tion of Legisunder this Act, and of the amount of debentures issued in respect 30 & 31 Vict. of the moneys so raised and of the moneys which shall have been c. 145 s. 20. issued out of the consolidated revenue in respect of the sum of Six hundred and ten thousand pounds raised under this Act; and before any expenditure shall be made or contract entered into for the completion and construction of the said works or the purchase of land or works as aforesaid, an estimate of the expenditure which the Board of Land and Works proposes to incur for the said purposes during the ensuing twelve months, and also a statement showing the works 29 Vict. No. 289. or purposes for or in respect of which the moneys during the preceding year may have been applied, shall be laid before both Houses of Parliament and the aforesaid estimate shall be submitted for the sanction of the Legislative Assembly in the same manner as the annual Estimates of Expenditure for the public service. 14. The expenditure or advance of all moneys to be raised under Expenditure to this Act shall be reviewed and audited by the Commissioners of Audit be audited. in accordance with the provisions of any Act now or hereafter in force for the collection and payment of the public moneys and the audit of the public accounts. VICTORIAN GOVERNMENT DEBENTURE.-PUBLIC WORKS LOAN 1868. Under the authority of "The Public Works Loan Act 1868." This debenture entitles the bearer to pounds sterling on the first day of , One thousand eight hundred and I which, with interest thereon at the rate of Five pounds per centum per annum, is hereby secured on the consolidated revenue of the colony of Victoria and the growing produce thereof, such interest being payable half-yearly on the first day of January and the first day of July in every year (dividend coupons for which are annexed) at Melbourne. Debentures for issued. An Act to authorize the raising of Money for Public [15th July 1870.] BE by consent of the Legislative Council and E it enacted by the Queen's Most Excellent Majesty by and the Legislative Assembly of Victoria in this present Parliament 1. In addition to the debentures issued under "The Public £100,000 may be Works Loan Act 1868," the Governor in Council may issue debentures() charged upon the consolidated revenue and the growing produce thereof for any sum or sums not exceeding in the whole One hundred thousand pounds. (a) Debentures issued under this Act may be converted into stock by 36 Vict. No. 439 s. 15, “Public Moneys (Debentures Conversion)," post, p. 2194; and see also 36 Vict. No. 428 Schedule I., “Public Moneys (Stock)," post, p. 2186. |