Victorian Consolidated Legislation

Mooroopna Race-course Land Act 1901 - SECT 5

Proceeds of sale to be paid to trustees

5. Proceeds of sale to be paid to trustees

When the said land is sold and the Board of Land and Works receives from the
purchaser the amount of the value of the said land the Board shall pay to the
Commercial Bank a sum not exceeding Two hundred and fifty pounds being an
amount advanced to the trustees and expended in improvements on the said land
and shall then upon such terms and subject to such trusts as the Governor in
Council may approve pay the balance to the said trustees upon trust for the
purchase and improvement of a site in allotment six, parish of Mooroopna, for
a race-course and other purposes of public recreation and for no other purpose
whatsoever.