[Ord. 7 anno 1850.] No. XXVII. " borne by the original bond or debenture, and shall carry the same "interest as was carried by the original bond or debenture. issued. 8. "And be it enacted, that in case proof shall be made to the When Bond "satisfaction of the said Commissioners, whose decision shall be lost or destroyed new "final, that any bond or debenture issued under this Ordinance, one may be "has, by casualty or mischance, been lost; burnt, or otherwise destroyed, before the same shall have been paid off and discharged, "and if by such proof the number of such bond or debenture, and "its amount, shall be ascertained, then and in every such case such "Commissioners shall deliver to the party or parties entitled thereto, "a new bond or debenture, of number and amount corresponding "to the bond or debenture so lost and destroyed, and if any bond or debenture, when so lost and destroyed, shall have been overdue, "the said Commissioners shall cause the money due upon every "such bond or debenture, to be paid off and discharged. order of the 9. "And be it enacted, that the said Commissioners shall be Commissioners "bound, and they are hereby authorised and required, to pay to the to pay to the "order of the Governor of British Guiana, out of any funds in their Governor. "hands, realized under the provisions of this Ordinance, all such sum or sums of money as the Governor shall find it necessary to "draw for or on the said Commissioners, for the purposes of carry"iug into execution the provisions of this Ordinance. General to sioners. 10. "And be it enacted, that the Receiver-General of this Co- Receiver"lony shall be bound, and he is hereby required, on the customary remit sums to "Warrant of His Excellency the Governor, to remit any sum or the Commis "sums of money which shall be required by the Commissioners in "London, for the purposes of this Ordinance, and he shall remit, as "he is hereby required to remit, the same in sufficient time to the "said Commissioners to enable them to meet the engagements con"traeted under this Ordinance. gration. II. "And be it enacted, that it shall not be lawful, unless with Money may be "the consent of Her Majesty previously had and obtained, and with spent on Immi "the consent of the Court of Policy of this Colony, combined with the "Financial Representatives of the inhabitants thereof, to expend any "portion of the money to be raised under and by virtue of this Ordi"nance for any other purpose than the advance, on loan, to the Deme rara [Ord, 7 anno 1850.] kept. No. XXVII. rara Railway Company, of a sum not exceeding the sum of £50,000, "and the promoting the introduction of free labourers into this Colony, by means of the balance of the money to be raised: Pro"vided always, that should a passage back to their own country, on "the expiration of a certain term of industrial residence, be one of "the conditions guaranteed by the said Colony to any of the labourers so to be introduced, then, and in that case only, it shall be "lawful to set apart and appropriate the funds necessary for such purpose out of the money to be raised under this Ordinance. 12. "And be it enacted, that the said Commissioners shall cause Accounts to be "Accounts to be opened, and kept in proper books to be provided "and kept for that purpose, under such heads as they may deem "requisite, and the said Commissioners shall cause an abstract of "the accounts kept by them to be made out, up to and closing with "the thirty-first day of December in each and every year, together "with a statement of the funds and effects and property of every "kind realized under this Ordinance, of the investments made up "to such date on account of the Sinking Fund, and of the funds "and effects in the hands of the said Commissioners, and of the "appropriation of all sums expended, and of loss, if any incurred, "for the year preceding, and such abstracts and statements shall "contain the particulars connected with such transactions of the "said Commissioners, as shall then have taken place, and a copy of "such abstract and statement duly certified to be correct by the " said Commissioners, shall, in the month of January in each year, "be transmitted to the Receiver-General of this Colony, to be by "him laid before the Governor and Court of Policy of this Colony, "at its Session next ensuing after the receipt thereof. Interpretation clause. 13. And be it enacted, that in the construction of this Ordinance, "the words 'Her Majesty' shall mean Her Majesty, her Heirs "and Successors; that the word 'Governor' shall mean the Go"vernor for the time being of British Guiana; that the word "Debenture' shall mean a Debenture as the case may be, with or "without the interest coupons thereto belonging; that every word importing the singular number only, shall extend and be applied "to several persons, matters, or things, as well as to one person, "matter, or thing; every word importing the plural number, shall "extend and be applied to one person, matter, or thing, as well as 66 "to [Ord. 7 anno 1850.J No. XXVII.-XXVIII. "to several persons, matters, or things; and that every word im"porting the masculine gender only, shall extend and be applied to "a female as well as to a male, unless in any of the cases aforesaid "it be otherwise specially provided, or there be something in the "subject or context repugnant to such construction." No. XXVIII. 1850.] AN ORDINANCE TO PROVIDE FOR THE PAYMENT OF THE IN- [Ord. 8 annc Enacted 4th March, 1850, published the 10th September following, came into operation on publication. 66 " [HENRY BARKLY, Governor.] WHEREAS by an Act of the Imperial Parliament, made and Preamble. "passed in the Session held in the 11th and 12th years of Her "Majesty's Reign, chapter 130, after reciting that whereas it was expedient that Her Majesty should be enabled to guarantee the Interest, at a rate not exceeding Four Pounds per Centum per annum, on any Loan or Loans not exceeding in the whole the 'sum of Five Hundred Thousand Pounds, which the Legislatures, "or other proper legislative authority, of Her Majesty's Colonies "and Possessions on the Continent of South America, in the West "Indies, and the Island of Mauritius, might raise and charge on "the respective revenues of such Colonies and Possessions, for the "r purpose of promoting the introduction of free labourers or the "formation of roads, railways, works of drainage or irrigation, or "other public undertakings of a similar character; it was enacted, "that [Ord. 8 anno 1850.] No. XXVIII. "that it should be lawful for Her Majesty to guarantee the pay"ment of the Interest, not exceeding the yearly rate of Four Pounds "in the Hundred, on any principal sum or sums of money, not ex"ceeding the sum of Five Hundred Thousand Pounds in the whole, "which, in conformity with the provisions therein contained, should "be raised for all or any of the purposes aforesaid, by Loan, de"benture, or otherwise, and the repayment of which with Interest "not exceeding the rate aforesaid, within a term to be approved by "the Lord High Treasurer or Commissioners of Her Majesty's "Treasury of the United Kingdom of Great Britain and Ireland, "should be provided for by a Sinking Fund or otherwise, and se"cured and charged on the revenues of any of the Colonies and "Possessions of Her Majesty in the West Indies, or the Continent "of South America, and the Island of Mauritius, in which such "taxes or other sources of revenue of sufficient duration should be by law established, as in the judgment of the said Lord High Treasurer, or Commissioners of Her Majesty's Treasury, should be suffi"cient to provide for the discharge of such principal sum or sums, "and Interest, within such term (after satisfying any prior charges "to which, under existing laws, such revenues might for the time "be liable) by any Acts or Act, Ordinances or Ordinance, to be passed or made by the Legislatures or proper legislative Authority "of such respective Colonies and Possessions, and assented to by "Her Majesty; and that for giving effect to every such guarantee, "it should be lawful for the said Lord High Treasurer or Commissioners of Her Majesty's Treasury, or any three of them, to "direct and cause to be issued and paid out of the growing pro"duce of the Consolidated Fund of the said United Kingdom such "sums as should be required to make good any deficiency which "should happen in the regular payment on the part of the said Co"lonies and Possessions, respectively, of the Interest accruing due upon any such Loans or Loan to be raised as aforesaid: And "whereas the Lords of Her Majesty's Treasury consider that in car"rying the said Act of the 11 and 12 Victoria, cap. 130, into effect, "it is incumbent on them to take care that due precautions are "adopted, viz., the security of the Public Funds of Great Britain. "against any undue charge, and the necessary provision for the "regular payment of interest on the Loan, as well as for the forma"tion of such a Sinking Fund as will ensure the liquidation, within "a reasonable period, of the principal amount of debt, for the in "terest [Ord. 8 anno 1850.] No. XXVIII. "terest on which the guarantee is given; that in accordance with "the provisions of the said Act, Taxes, or Duties, which shall con"tinue in force until the total liquidation of the Loan, should be "assigned or imposed by the competent Legislative Authority of "the Colony for which the guarantee is given; that a sufficient "amount of the produce of them should be appropriated for the "payment of the interest, in such manner as will make it at all "times applicable, by the authority of the officer administering the "Government of the Colony, for that purpose; and that this pro"vision must also be equally applicable to the annual sum which "which may be appropriated for the Sinking Fund, for the purpose "of ultimately redeeming the Debentures or other securities, of "which the interest is guaranteed; and that the revenue to be so "raised and set apart for both those purposes must also be sufficient "to meet the charge thus created, after satisfying any prior "charges to which, under existing Laws, the Revenues of the Co"lony may for the time be liable' And whereas on the 21st day " of December, in the year of our Lord 1849, there were passed by "His Excellency the Governor of British Guiana, with the advice "and consent of the Court of Policy thereof, combined with the "Financial Representatives of the Inhabitants of said Colony, cer"tain Resolutions, to wit: "Firstly-That the Court should pass a resolution to apply for a "Loan of such portion of £500,000, not to exceed £250,000, "( as Her Majesty might be pleased to grant to this Colony, "under the provisions of the Act of Parliament made and "C passed in the Session held in the eleventh and twelfth years of Her Majesty's Reign, chapter 130, for the pur " pose of promoting the introduction of free labourers, the "formation of roads, railways, works of drainage, and other "public undertakings of a similar character." "Secondly-That the repayment of such Loan with the interest "thereon, not exceeding the rate of Four Pounds in the Hundred, within a term to be approved by the Lord High "Treasurer or Commissioners of Her Majesty's Treasury of "the United Kingdom of Great Britain and Ireland, should "be provided for by a Sinking Fund or otherwise, and se"cured and charged on the revenues of this Colony for such VOL. II. "duration L |