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An Act to authorize the raising of a further sum of Seventy-three Thousand Pounds, for the completion of the Adelaide and Gawler Town Railway and Adelaide City and Port Railway, and to provide for additional Rolling-stock.

[Assented to, 27th January, 1858.]

WHEREAS, by a certain Act, No. 18 of 1854 "To authorize the formation of the Adelaide and Gawler Town Railway, and to provide for raising the money required for that purpose," provision was made for the raising of a sum of Two Hundred and Fifty Thousand Pounds by means of bonds, to be issued as therein provided; and for the application of such sum to the purposes of the construction of the said railway: And whereas, by a certain Act, No. 27 of 1855-6, "To authorize the appointment of South Australian Railway Commissioners, and to vest in them the construction of the Adelaide City and Port Railway, and of the Adelaide and Gawler Town Railway, and to authorize the raising of a further sum of Thirty-six Thousand Pounds for the completion of the Adelaide City and Port Railway;" provision was made for raising such last-mentioned sum, and for the payment thereof to the South Australian Railway Commissioners as Undertakers for the construction, completion, and management of the last-mentioned Railway: And whereas such sums have been found inadequate for such purposes, and an additional sum is required for the completion of the said railways: And it is expedient therefore that a further sum of money should be raised by the issue of bonds, and should be paid to the South Australian Railway Commissioners, for the purpose of completing the said railways, and providing additional rolling-stock for the same, as authorized by the said recited Acts: Be it therefore Enacted, by the Governor-in-Chief 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. It shall be lawful for the Treasurer, for the time being, of the said Province, from time to time, to issue bonds, not exceeding in the Whole the sum of Seventy-three 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. £ .

[margin to pound]South Australian Revenue Securities(Railway)

I, the Treasurer of the Province of South Australia, in consideration of the sum of Pounds paid to me for the purposes of the South Australian Railways, 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 six per cent. per annum ; 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 the day of ,

one thousand eight hundred and .

Signed, sealed, and delivered in the presence of }

NOTE.--Interest and principal 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 South Australian Government Gazette [and in the London Gazette].

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.

2. The said bonds shall bear interest at the rate of Six 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 and time as may be speciﬁed or provided therein; provided that the principal shall not be payable or paid before the expiration of ﬁve years or after the expiration of thirty years after the passing of this Act.

3. All sums of money raised and received by the Treasurer upon the security of the said bonds, shall be carried by the said Treasurer to the credit of the "South Australian Railway Commissioners," for the completion of the said railways, and providing for additional rolling-stock for the same, and shall be by him paid to the said Commissioners, in such amount and manner as the Governor, by any warrant under his hand, may, from time to time, authorize and direct.

4. It shall be lawful for the said Treasurer, 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 amounts so raised, and all interest thereon, shall have been duly paid, to set apart Seven Thousand Three Hundred Pounds, or such lesser sum as shall suﬂice 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. It shall be lawful for the Governor, from time to time, by warrant under his hand, to authorize the Treasurer to advance and pay to the said "South Australian Railway Commissioners," for the purposes of this Act, any sums of money not exceeding in the whole the sum herein 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 authority hereof.

6. Anything in the "Land Clauses Consolidation Act" to the contrary notwithstanding, it shall be lawful for the "South Australian Railway Commissioners" to exercise the powers conferred upon them for the compulsory purchase or taking of lands for the construction of the Railway from Adelaide to Gawler Town, until the thirty-ﬁrst day of December, one thousand eight hundred and fifty-eight.

Adelaide: Printed by authority, by W. C. Cox, Government Printer, Victoria-square.