Nyngan Town Hall (Mortgage) Act of 1897 (NSW)

NyNGan

Town Hau. (MorTGAGE).

Preamble.

Act, 1897. Nyigan Town all (Mortgage).

An Act to enable the Municipal Council of the municipal district of Nyngan to borrow money for the purpose of defraying the costs of erecting and completing a town hall, council chambers, offices, and buildings on lands within the municipal district of Nyngan, and for other purposes. [10th December, 1897. ]

wre EAS by Crown evant bearing date the twenty-second day

of September, one thousand cight hundred and ninety- seven, the lands described in the Schedule hereto were granted unto the municipal district of Nyngan, to be held upon trust as a site for a town hall, and for no other use or purpose whatsoever, subject to the reservations and conditions in the said Crown grant expressed: And whereas the said council is desirous of crecting a town hall, council chambers, offices, and buildings on the said land and has entered into a contract for and has commenced the erection thereof: And whereas by the Municipal Loans Act of 1§88 the said municipal council is authorised to borrow only on the security of the said land and buildings : And whereas the Municipalities Act of 1867 docs not confer on. tho said municipal council power to borrow money for the special purposes aforesaid on the security of the general rates or other revenues of the said municipal district: And whereas under the provisions of the Country Towns Water and Sewerage Act of 1880 and the Country Towns Water and Sewerage Act Extension Act of 1887, the said council borrowed money from the Colonial Treasurer, and constructed works for water supply within the said municipal district, anc under the said Country Towns Water and Sewerage Act of 1880 the moneys so borrowed are declared to be a debt chargeable upon the general revenues from whatever source derived of such municipal district until defrayed as thereinafter provided, anc by the said Extension Act such moneys are declared to be a firs charge on the said waterworks and upon all rates and revenues derivable therefrom until such debt has been duly liquidated: Anc whereas the said council is unable to raise sufficient money to pay for the cost of erecting the said buildings, exeept by borrowing a sum not exceeding one thousand five hundred pounds upon security of the said lands and buildings, together with the gencral rates or other revenues of the said municipal district, subject as to such rates and revenues to the charge hereinbefore set forth; and it is expedient that the said council should be authorised and empowered to mortgage the said