PUBLIC WORKS LOAN (1909)

1. This Ordinance may be cited as the Public “Works Loan (1909) Ordinance.

2. The Governor is hereby authorized to issue stock or debentures, or both, under the provisions of ” The General Loan and Inscribed Stock Ordinance, 1907 “, * to an amount sufficient to produce, as nearly as may be, the sum of three million four hundred and thirty-six thousand eight hundred and fifty-four pounds sterling, and such further sum as may be necessary to defray the expenses of issue.

3. The money to be borrowed under the authority of this Ordinance shall be appropriated and applied to the purposes specified in the Schedule, and to no other purpose :

Provided that it shall be lawful for the Governor, with the previous approval of a Secretary of State, to direct that any sums which may not be required for a purpose specified in the Schedule may be appropriated and applied to any other purpose therein specified.

4. Contribution to sinking fund, as contemplated by the provisions of sections 13 and 27 of ” The General Loan and Inscribed Stock Ordinance, 1907″, * shall commence after the expiration of three years from the date on which the interest on the first debentures or inscribed stock to be issued under this Ordinance shall begin to run.