No. 47, Legislative

I have the honor to forward herewith to Your Grace the undermentioned
Acts, together with the Attorney General's report thereupon.

I Vancouver Island Road and Harbor Loan Act 1862.

II Vancouver Island temporary Debenture Loan Act 1862.

2. The first after repealing the Harbor Loan Act of 1861, the moneys
raised under that Act having been paid off, Empowers the Governor to
borrow upon Debentures secured as a primary charge upon the general
Revenue of the Colony and bearing interest at the rate of six per
centum per annum, a sum of money not exceeding Forty thousand pounds
Sterling for the purpose of constructing Roads within the Colony, and
for improving Victoria Harbor.

3. The second Act Empowers the Governor to borrow a sum of money not
exceeding Fifteen Thousand pounds Sterling in anticipation of the
moneys to be raised under the first named Act, so that the work of
the improvement in Victoria Harbor may be at once proceeded with and
advantage be taken of a present favorable condition of the labor
market to open roads, and thus to induce settlement and retain
immigrants in the Country.

4. I trust that these Acts may be found in due form, and that no
objection may exist to their being left to their operation.