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CSA045337

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Letters Received from the Colonial Secretary

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This item is no longer under copyright in Australia and is in the public domain. It may be used freely. When using or sharing this item attribution should be given to the City of Sydney Archives.

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Letter from Colonial Secretary reporting that the applications from City Commissioners for Advances

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Unique IDA-00444924SeriesLetters Received from the Colonial SecretaryDate23rd September 1854FormatVolume - HardcoverDescriptionLetter from Colonial Secretary reporting that the applications from City Commissioners for Advances of £20,000 towards Expenses of the City of Sydney Water Supply, and of the like sum to enable the Sewerage of the City to proceed, have been laid before the Executive Council. On the advice of Council it is agreed that: 1) such Advances should be made in part Satisfaction of the Loans for Sewerage and Water Supply, under Acts of Council 17 Vict Nos 34 and 35; 2) the necessary Amount be obtained on Debentures from the Savings Bank; 3) such Debentures to have a rate of Interest not exceeding 4 per cent; 4) Interest not to be payable for a period of 5 years but payable at any time thereafter, on 3 months notice being given to Government by the Holders; 5) Debentures to be Redeemable at any time on giving 12 months notice to the Holder in the Government Gazette. The Savings Bank Managing Trustee has been advised accordingly and Interest will be payable from the date this money is paid into Colonial Treasury, Debentures to be issued in even sums of £500 and £1,000 as desired by the Bank.LanguageEnglish (eng)Digitised recordYes

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Source system ID25/6/079

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Letter from Colonial Secretary reporting that the applications from City Commissioners for Advances

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