APPROPRIATION (URBAN PUBLIC TRANSPORT) ACT 1977
No. 99 of 1977
An Act to appropriate moneys out of the Consolidated Revenue Fund and the Loan Fund for the purpose of urban public transport and to authorize the borrowing of certain moneys by the Commonwealth.
BE IT ENACTED by the Queen, and the Senate and House of Representatives of the Commonwealth of Australia, as follows:
Short title
1. This Act may be cited as the Appropriation (Urban Public Transport) Act 1977.
Commencement
2. This Act shall come into operation on the day on which it receives the Royal Assent.
Appropriation
3. For the purposes of the agreement referred to in section 3 of the States Grants (Urban Public Transport) Act 1974, there may be paid out of the Consolidated Revenue Fund or the Loan Fund, or both, the sum of $30,310,000 in addition to the sums appropriated by that Act and by the Appropriation (Urban Public Transport) Act 1974 and the Appropriation (Urban Public Transport) Act 1976.
Authority to borrow
4. The Treasurer may, in accordance with the provisions of the Commonwealth Inscribed Stock Act 1911, or in accordance with the provisions of an Act authorizing the issue of Treasury Bills, borrow moneys not exceeding in the aggregate the sum of—
(a) $30,310,000; and
(b) the expenses of borrowing.
Application of moneys borrowed
5. Moneys borrowed under section 4 shall be issued and applied only for the expenses of borrowing, for the purpose of making payments in accordance with the agreement referred to in section 3 of the States Grants (Urban Public Transport) Act 1974 and for the purpose of making payments to the Consolidated Revenue Fund in accordance with section 6.
Reimbursement of Consolidated Revenue Fund from Loan Fund
6. (1) Where an amount has been paid out of the Consolidated Revenue Fund under this Act, the Treasurer may authorize the payment to that Fund, out of the Loan Fund, of an amount not exceeding the amount so paid.
(2) In any statement prepared by the Treasurer under section 49 or section 50 of the Audit Act 1901, amounts paid to the Consolidated Revenue Fund under sub-section (1) of this section shall not be shown as receipts of that Fund but shall be shown as having reduced the total of the amounts expended from that Fund under this Act.
Appropriation
7. The Consolidated Revenue Fund and the Loan Fund are appropriated as necessary for the purposes of this Act.
