CO129-223 - Governor Sir Bowen Acting Governor Marsh & Others - 1885 [11-12] — Page 217

12:

Inscribed Such would be inopérative

without purch

O

Order of.

the Sovernor.

C.O.

3072

REGO 4 MAR 85,

216

As they may

be useful to the

Govenor when considering this matter,

The Colonial. I hausmit also Copies of Stock Act 1877, 40 and 41 Vic : Act of Cap. 59. 1880 (Part V]) increasing the Commute...

and of

the further

Streep duty from 7/6° to 12/6 pe. Cont

on the par

Value

of

The Sock

?

I will send to the Colony by the next Mail, epare Copics of

draft Adinance.

The

I have the honour to be

Sir. Your Obediant Servant

Mergerant

AN ORDINANCE

Enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof,

No..

of 1885.

An Ordinance for raising a sum not exceeding Two Hundred Thousand Pounds by Loan for the completion of certain Public Works and Fortifications.

1885.

Whereas it is expedient to raise on loan a sum not exceeding Two Hundred Preamble. Thousand Pounds by the sale of Debentures Inscribed Steek, to be expended on certain Public Works and Fortifications.

AND WHEREAS it also expedient to provide for the creation of Inscribed Stock, and to enable this Colony to take advantage of the provisions of an Act of the Imperial Parliament entituled "The Colonial Stock Act, 1877":

Be it therefore enacted by the Governor of Hongkong, with the advice of the Legislative Council thereof, as follows:

1. This Ordinance may be cited for all purposes as "The Loan Ordi- nance, 1886,"

心吧

ん

2. The Governor may from time to time raise such sum or sums of Loans to be raised money as he may deem expedient, not exceeding in all Two Hundred by Debentures, or Thousand Pounds, either by Debentures or by Hongkong Inscribed Stock, or Hongkong In- partly by Debentures and partly by such Inscribed-Stock.

seribed Stock.

3. The principal moneys and interest secured by the Debentures Loans to be a Inscribed Stock issued under the provisions of this Ördinance are hereby charge upon charged upon and shall be payable out of the General Revenues and general revenues. Assets of the Government of Hongkong,

4. When the borrowing shall be upon Debentures, such Debentures Borrowing upon shall be issued in London on behalf of the Government of Hongkong by the Debentures. Crown Agents for the Colonies, upon the best and most favourable terms that can be obtained, and shall be signed by any two of them on that behalf.

5. Every Debenture issued under the provisions of this Ordinance shall Amount of each be for a sum of not less than One Hundred Pounds Sterling, and shall bear Debenture. interest at a rate not exceeding per cent. per annum.

4!!