CO129-539-12 Loans for public works- military finances 26-2-1932 - 7-3-1933 — Page 86

DRAFT

AN ORDINANCE to declare the terms and conditions

applicable to Local Loans authorised to be raised

by the Government of Trinidad and Tobago.

83

Preamble

Short Title

Scope

Loans to be

raised by debentures

Loans to be

a charge upon

general revenue

Borrowing upon debentures

Amount of each debenture

WHEREAS it is expedient to define in one Ordinance

the terms and conditions applicable to Local Loans hereafter authorised to be raised by the Legislature of the Colony

of Trinidad and Tobago: be it therefore enacted by the

Governor of Trinidad and Tobago with the advice and consent

of the Legislative Council thereof as follows:

(1) This Ordinance may be cited as the General Local Loan

Ordinance.

(2) This Ordinance shall be applicable only to loans

raised locally in the Colony.

(3) Whenever by an Ordinance authority shall have been

given to the Governor to raise any sum of money for the

purposes mentioned in such Ordinance the Governor may from

time to time as he may deem expedient raise such sum by

debentures issued under the provisions of the Ordinance. (4) The principal monies and interest represented by such

debentures are hereby charged upon and shall be payable out

of the general revenues and assets of the Colony.

(5) Such debentures shall be issued in the Colony upon the

best and most favourable terms that can be obtained and

shall be signed by the persons holding the offices of

Colonial Secretary and Treasurer for the time being or by

any other person or persons thereto specially authorised

by the Governor.

(6) Each debenture may be for a sum of twenty pounds one

hundred pounds five hundred pounds or one thousand pounds.

(7)