CO129-543-12 Loans for public work 29-3-1933 - 20-12-1933 — Page 79

าา

Li ishim

reference to been made

sali that hey

mysites in the matter, have

have beeY

li offer

no objection to the terms of the

Ordinance. They observe, however, that

the terms of sub-section (4) of Section 10

provide that any moneys appropriated for

the formation of the sinking fund to be

raised under the Ordinance, not required

for the redemption etc. of the Conversion

Bonds may be dealt with in such manner as

may be approved by the Governor in Council,

and that a similar provision exists in sub-

section (5) as regards the sinking fund of

the 1927 Loan. They also observe that under

Section 13 all appropriations for the sinking

fund and all dividends, interest, or produce of

any investments representing any portion of the

sinking fund are exempted from assessment

thaave military contribution. They point out that

to

there is thus apparently a possible contingency

that in effect appropriations of revenue of

greater amount than is necessary for the service

of