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City of Bombay Municipal Investments Act, 1898

City of Bombay Municipal Investments Act, 1898

City of Bombay Municipal Investments Act, 1898

Bombay Act No. 1 of 1898

mh648

[Dated 3rd June 1898]

For Statements of Objects and Reasons, see Bombay Government Gazette, 1898, Part V, page 73; and for Proceedings in Council, see Bombay Government Gazette, 1898, page 205.

An Act to supplement the provisions of the [City of Bombay Municipal Act, 1888], with respect to the Investment of Sinking Funds and Surplus Moneys and to validate certain Debentures.

Whereas it is expedient to supplement the provisions of the [City of Bombay Municipal Act, 1888], with respect to the investment in public securities of sinking funds and surplus moneys of the[Municipal Corporation of the City of Bombay] ; and whereas it is also expedient to remove doubts which have arisen with respect to the validity of certain debentures of the Corporation in which portions of their sinking funds and surplus moneys purport to have been heretofore invested, and to obviate the extinction of such debentures of the Corporation as have been, or may hereafter be, issued in or transferred to the name of the Corporation or to the name of the Municipal Commissioner for the [City of Bombay] on behalf of the Corporation in respect of any such investments ;

It is hereby enacted as follows :-

  1. This Act may be cited as the City of Bombay Municipal Investments Act, 1898.
  2. [Repealed by Bombay 13 of 1933, section 42 and Appendix.]
  3. [Repealed by Bombay 13 of 1933, section 42 and Appendix.]
  4. All the several debentures of the Corporation heretofore issued, transferred, assigned or endorsed in the name of the Corporation or in the name of the Municipal Commissioner on behalf of the Corporation as specified in Schedule A, and all debentures heretofore issued by way of renewal, consolidation or subdivision of any of the said debentures shall be deemed to be and to have always been valid and negotiable in all respects and in same manner as if the same had been issued against moneys borrowed from the Secretary of State or any other person.
  5. The signature of the person for the time being holding the office of the Municipal Commissioner for the [City of Bombay]to a transfer of any debenture standing in the name of the Corporation or of the Municipal Commissioner on behalf of the Corporation shall be valid and sufficient, notwithstanding that such person may not have held the said office at the time when such debenture was issued, transferred, assigned or endorsed to the name of the Corporation or the Municipal Commissioner as aforesaid.

Schedule-A

Particulars of Loans and Numbers of Debentures Number Amount Total Grand Total
(1) (2) (3) (4) (5)
Rs. Rs. Rs.
5 per cent. Bombay Municipal Loan (Rs. 10.08.500) for Drainage and Water Works, Markets and Roads.
Nos. 445 to 729 285 500 1,42,500
Nos. 730 to 741 12 500 6,000
—- 1,48,500
5 per cent. Agripada House Sullage Water Connection Loan (Rs. 2,48,000).
Nos. 1 to 170 170 500 85,000
Nos. 171 to 182 12 500 6,000
Nos. 183 to 188 6 500 3,000
Nos. 485 to 492 8 500 4,000
Nos. 493 to 496 4 500 2,000
—- 1,00.000
The (5 per cent.) 35 Lakhs various sanitary Works Loan
Nos. 6801 to 6825 25 500 12,500
Nos. 6826 to 6876 51 500 25,500
Nos. 6877 to 6888 12 500 6,000
Nos. 6889 to 6894 6 500 3,000
Nos. 6895 to 6902 8 500 4,000
Nos. 6903 to 6967 65 500 32,500
Nos. 6993 to 6992 25 500 12,500
Nos. 6993 to 7000 8 500 4,000
—- 1,00,000
5 Per cent Tansa Water Works Loan (Rs. 147 lakhs).
Nos. 24401-24450 to 25351-25400 20 25,000 5,00,000
Nos. 25401-25440 to 26201-26240 21 20,000 5,20,000
Nos. 26241-26270 to 27261-27290 35 15,000 5,25,000
Nos. 27291-27310 to 28271-28290 50 10,000 5,00,000
Nos. 28291-28300 to 28481-28490 20 5,000 1,00,000
Nos. 28491-28494 to 28887-28890 100 2,000 2,00,000
Nos. 28891-28892 to 29229-29230 170 1,000 1,70,000
Nos. 29231-29270 to 29351-29390 4 20,000 80,000
Nos. 29391-29392 and 29393-29394 2 1,000 2,000
Nos. 29325-29396 to 29399-29400 3 1,000 3,000
The (5 per cent.) Municipal Building Loan (Rs. 8,00,000).
Nos. 1-50 to 151-200 4 25,000 1,00,000
Nos. 201-240 to 361-400 5 20,000 1,00,000
Nos. 401-430 to 551-580 6 15.000 90,000
Nos. 581-600 to 961-980 20 10,000 2,00,000
Nos. 981-990 to 1171-1180 20 5,000 1,00,000
Nos. 1181-1184 to 1377-1380 50 2,000 1,00,000
Nos. 1381-1392 to 1599-1600 110 1,000 1,10,000
8,00,000
Total 5 per cent. Loan Debentures —- —- —- 36,48,500
The (4 per cent.) Loan of 4-½ Lakhs for Fire Bridge Quarters and Stations.
Nos. 1-20 to 181-200 10 10,000 1,00,000
Nos. 201-210 to 291-300 10 5,000 50,000
Nos. 301-304 to 417-420 30 2,000 60,000
Nos. 421-422 to 479-480 30 1,000 30,000
Nos. 481 to 500 20 500 10,000
Total 4 per cent. Loan Debentures —- 2,50,000
Grand Total 38.98,500

 

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