MODEL OF "SPECIFIC" LOAN ORDINANCE,
No.
of 19
An Ordinence to make provision for raising a Loan of
Pounds Sterling for the
Construction of certain Publie Werke and other purposes.
Preamble,
Whereas it is expedient to raise a loan of
Pounds sterling for the purposes
21
Short title
Authority
to Governor to borrow by sale of debentures or inscribe d stoek.
specified in the Schedule hereto; Be it therefore enacted
by the Governor of
by and with the advice and
consent of the Legislative Council thereof, as follows:-
1. This Ordinance may be cited as 量
2. The Governor is hereby authorised to issue debentures or
stock or both under the provisions of "The General Loan and
1913 and
Inscribed Stock Ordinances,/1924" to an amount sufficient
to produce as nearly as may be the sum of
Application of Loan.
Commence-
ment of
pounds sterling, and such further sum ae may be necessary
to defray the expenses of issue,
3. The money to be borrowed under the authority of this
Ordinance shall be appropriated and applied to the purposes
specified in the schedule hereto provided that it shall be lawful
for the Governor with the Sanction of the Secretary of
State to utilize any savings in respect of any item in the
ssid schedule to cover any excess of expenditure in respect
of any other item.
4. Contribution to Sinking Fund, as contemplated by the
and of "The General Loan and
Contribution provisions of Section
to Sinking Fund.
and 1921
Inscribed Stock Ordinances, 1oB" shall commence in respect
of