Aid to Public Works and Land Settlements Act 1922

Public Act		1922 No 38
Date of assent		31 October 1922

	Title
1	Short Title.
2	New Zealand Loans Act, 1908, applied.
3	Minister of Finance may borrow £4,000,000.
4	Rate of interest.
5	Moneys borrowed to be credited to Public Works Fund, and applied for works and purposes in Schedule.
	Schedule Purposes for which Moneys may be borrowed under this Act.

An Act to authorize the Borrowing of Money in Aid of certain Public Works and Purposes.

BE IT ENACTED by the General Assembly of New Zealand in Parliament assembled, and by the authority of the same, as follows:—

1 Short Title.

This Act may be cited as the Aid to Public Works and Land Settlement Act, 1922.

2 New Zealand Loans Act, 1908, applied.

This Act shall be deemed to be an authorizing Act within the meaning of the New Zealand Loans Act, 1908, and the moneys hereinafter authorized to be borrowed shall be borrowed under and subject to the provisions of that Act accordingly.

3 Minister of Finance may borrow £4,000,000.

The Minister of Finance is hereby empowered to borrow, on the security of and charged upon the public revenues of New Zealand, such sums of money as he thinks fit, not exceeding in the aggregate the sum of four million pounds.

4 Rate of interest.

The sums so borrowed shall bear interest at such rate as the Minister of Finance prescribes.

5 Moneys borrowed to be credited to Public Works Fund, and applied for works and purposes in Schedule.

All moneys borrowed under the authority of this Act shall, as and when borrowed, be paid into the Public Account to the credit of the General Purposes Account of the Public Works Fund, and shall from time to time be applied to the works and purposes specified in the Schedule hereto in such amounts as may be from time to time appropriated by Parliament for those purposes.

Schedule Purposes for which Moneys may be borrowed under this Act.

1.

Construction of railways and additions to open lines.

2.

Additional rolling-stock for open lines, and such other works and purposes in connection therewith as may be authorized.

3.

Telegraph-extension.

4.

The construction and improvement of roads, tracks, and bridges for the purpose of providing and improving means of access to any lands, developing goldfields, and such other works and purposes in connection therewith as may be authorized.

5.

Other public works, including administrative charges in respect of any public works of the classes referred to in this Schedule.

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Aid to Public Works and Land Settlements Act 1922