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Loan Ordinance 1859 (Disallowed)

14. The Loan Ordinance 1860.

Title.

1. £70,000 to be raised by loan.

2. Form of Debentures.

3. To be issued by Warrant of the Superintendent, at Union Bank of Australia.

4. To bear interest at six per centum, payable half-yearly.

5. Principal to be paid twenty years after issue.

6. Principal and interest to be paid out of general revenue.

7. Loan to be expended solely in making Railways.

8. Title.

Notes.

This Ordinance was passed by the Canterbury Provincial Council on 21st December 1859, and reserved for the assent of the Governor who withheld his assent. See New Zealand Government Gazette, No. 5, 7th February 1860, page

29.

The full text of this Ordinance was not included in the Volume of Ordinances published by Charles Lucas, the Official Printer of the Canterbury Provincial Government.