National Endowment Act, 1907

Te Aroha News, Volume XXVII, Issue 43117, 23 July 1907, Page 2

National Endowment Act, 1907

(1) This Act may be cited the National Eli-owment Act, 1907. (2) The Crown land described in the schedule hereto and hereafter called the-national endowment land, is hereby 1 set apart as a permanent endowment for the Jiurpose of education and old age pension. 3) save so far as expressly provided by this Act the national endowment of land shall continue to be administered and dealt with in the same manner as other Crown land under the provisions of the Land Act, 1892. (5) (a) The gross revenue received from national endowment land after the thirty-first day of March, 1908, shall be paid by the receiver of land revenue into the public account to the credit of a separate account to be called the National endowment account; (b) all revenue received from national endowment land on or before the said 31st day of March, 1908, shall be dealt with as if this Act had not been passed out of the moneys in the national endowment account, there shall be paid the cost of the administration of the national endowment land and also all sums which are now payable by law out of the revenues so received from the land to any local or public author ties (7)' Of the residue of the moneys in the national endowment account seven per centum shall in each year be applied for the purpose of education, and thirty per centum for the purposes of old age pensions in manner hereinnftcr P provided. (8) (a) The moneys so available for the purposes of education, shall be applied from time to time without further appropriation, than this Act in payment of all amounts which by any Act now in force or hereafter to be passed are charged on the consolidated fund for educational. purposes whether higher, secondary or primary, and whether general or technical; (b) The residue of the moneys so available for the purposes of education after payment of all such charges as are mentioned in the last preceding sub-section, shall be paid from time to time as the Colonial Treasurer directs, and without further appropriation that this Act to the education boards for educational purposes, in accordance with law and m aid of the annual appropriations made to the said boards ; (c) an account, shall be taken periodically, at such intervals being not less than one year as the Colonial Treasurer directs, showing the amount of all moneys so received by each education board, and the other amount so received by each board shall thereupon be deducted from the total sum payable to that board by virtue to any annual appropriation. (9) The moneys so available for the purposes of old age pensions shall fiom time to time, without further appropriation than this, he paid by the Colonial Treasurer into the post-office account, and shall be then applied in the payment of old age pensions in accordance with the provisions of the Old Age Pensions Act, 1898. (10) Notwithstanding anything in this Act contained, it shall be lawful for any portion of the national endowment land to be set apart as for any purpose under the authority of any Act in i like manner, as if this Act had not been passed. (11) (a) Notwithstanding anything in this Act contained, it shall be lawful tor the land board of the district in which any national endowment land is situated, to sell with the consent of the Minister of Lands, ' and in such manner and on such terms as the said land board and the said Minister thinks fit, any portion of such land not exceeding five acres in any one case as a site for any building to be erected for any educational, religions, charitable or public purpose, or for any other purpose which in the opinion of the said land board and the said Minister renders such a sale expedient in the public interests ; (b) the purchase money of laud so sold shall be paid into the national endowment account. (12) (a) It shall be lawful for the Colonial Treasurer from time to time in accordances with the provisions of sections seventy-three to seventy-five of the “ Local Bodies Loan Act, 1901, to issue and apply to such sums of money not exceeding in any one year ,ihe sum of fifty thousand pounds as are appropriated by Parliament for the purpose of the formation of roads or bridges upon any national endowment land, or otherwise for the purpose of faulitating the settlement of any such land ; (b) the said sums shall be in addition to and not in substantion for the sums authorised to be expended by section 73 of the “ Local Bodies Loans Act, 1901,” schedule districts areas of national endowment land : Auckland 900,0°0 acres, Hawlces Bay 135,000 Taranaki 90,000, Wellington 90,000, Nelson 1,350,000, Marlborough 450,000. Westland 1,035,000, Canterbury 1,800,000, Otago 2,250,000, Southland 900,000, total 9,000,000.