NATIONAL ENDOWMENTS.

Temuka Leader, Issue 5540, 23 July 1907, Page 4

NATIONAL ENDOWMENTS.

KDLCATION AND OLD ALL i’K.M-dONS. NJ.NK MILLION ACKLS LIESKH'. KU 'i M ELL)NUTON, -l uly lit. The following arc -ih •• pro' isems "1 I lie National Kmlowimn Is Bdl. vde-h was la.(I on (In' tab!" of lb-' -ll"lise hv Sir •). O. Ward 11,t.s evening ‘l. lids Art nmy be riled as “-l!u> National .Endowment Act, ML’. ' li. This Crown hvivd descriiad in the, schedule hereto, and hereinafter called national endowment lapd, is hereby set. apart as a permanent eudowmen-.. ;or tlis purpose of education wad oldage pensions. :’>. Save ro far us expressly providetl by this act, no national endow- j aunt, hvnd shall he. sold, nor r.ha.l any such land bo disposed of by way of occupation with right of purchase Hu- 1 tier tkj provisions of ‘Mhc Land Act, IKW. ' : ■I. Save so far as, expressly provided by this Act, national endowment land shall continue to be administered and dealt with in the same, manner ns oilier Crown land under the provisions of "I he Land Act, IS'U-1. ' 5. (I) The gross revenue received from national tndownu"A ln "'* the .'list day of .March, sha Ibo paid by the Receiver of Kami Revenue into the public account to the credit of a separate account to be culled the national endowment account. (-) All revenue received from national indowim nt land on or before the said .list day of March, I'DUS, shill be dealt with as if this Act had not been passed. (I. Out of the moneys in the, national endowment account there shall lie paid the cost of the ad mini strati', on of the national eiulowmint hvnd, and also all sums which arc 'now payable l,y law out of the revenues so received from that hvnd lo any local or public authorities. 7. Of the residue*'of tiro moneys in the national cr.dowmint account 7" per cent shall ia each year be applied for the purposes of education nv 1 At) per cent for the purposes of old-age pensions in the manner h •revn-.vher pro vided. ,S. (I) The moneys so available for the purposes of education shell be applied from time fi > time without further appropriation than this act in P avaunt of all amounts whe.h by any net now in force or here.r.'after to be passed arc charged on the (ton <oli dated Fund for "educational purpos.'spx h ■- (her higher, secondary., or primary, and whether general or technical. (-) Tiro residue of the moieys so available for the purposes of education afar payment of a'll such i-barges aware i-mnlicnod in tiro preceding subsection .■hall ho paid from time to tunc as th ■ Colonial Treasurer directs end without further appropriation thin this act to tka Education Boards for educational purposes 'in accordance ith law apd irJ aid of the animal | appropriations 'made to tiro said boards. (A) Account shall he taken periodically at such intervals, being ' not less than om; year, as th • Colon - ial Treasurer directs, showing th ■ anrouiit of all moneys so received by Kducalion Boards, and the amount so received by each, board shall I hire upon ho deducted from the total sum payable to that board by virtue of any annual appropriation. !). The moneys so available for the purposes iof old age pensions shall from time to time, without further ap proprialion than this act, be paid by the Colonial Treasurer into the Tost Office account, and shall then bo applied in the, payment of old age pensionl; in accordance with the provisions of the Old Age Tens ions Act, 1 ISRS. 111. Notwithstanding anything ia this act contained it shall be lawful for any portion of the national endowment land to 'be set apart as a reserve for any purpose under the nu thirity of any act in like manner as if this act had not been passed. 11. (1) Notwithstanding anything in this act contained it shall be lawful for the. Land Board of thu district in wlueli ivnv national iniioivmi-nt land is situated to sell with the cjonsent of tiro Minister of Lands, and in sue!, manner and on such terms as the said Land Boned and the sard Minister think lit, any portion of such land not exceeding live acres in any one ease, us a site f.or imy building to lie erected for any educational, religious, charitable, or public purpose, or Runny other purpose which, In tiro opinion of the said Land Board and the said Minister, renders such a sale expedient in the public interest. (d) Tim purchase money of land so sold shall be paid into thu national endowment account.

12. (1) I,'t .skull be lawful for the Colonial Treasurer from time lo time, iji accordance w'tk the provisions of sections 73 10 75 of “The I,oral .80-l----ies’ Loans Act, .HUH,” to issue and apply such sums of money, not excos fling in any one year the. mini of £50,000, as are appropriated by Parliament for Ihe purpose of the formation of roads or bridges upon any national endowment land, or otherwise for the purpose -of facilitating the settlement of any such land. (2) sail'd sum shell lie in midi lion to, and .not in substitution for, tho sums authorised to be expinded by section 73 of ‘''l lie l.ocal Bodies’ Loans Act, 10(11." sen kduli;. Aras of national endowment laud. Districts. Acres. Auckland 000.000 .Hawke’s Bay ‘ 13.5.000 Taranaki 00,000 Wellington 11(1,000 Nelson 1,350,01 K) Marlborough ,150,000 Westland 1,03,5,0110 Canterbury I SOI),000 Otago ... ' 2.2.50,000 Southland 000,000 Total 0,000,000