Acts & Ordinances
East Sydney (Kings Cross) Leasing Distribution Ordinance 1994
No 49, 1994
An Ordinance to authorise the distribution of certain rental moneys.
A. Under the St John's Kings Cross Leasing Ordinance 1992 (the "Leasing Ordinance") the Property Trust was authorised to lease the Leased Site (as described in the Leasing Ordinance) upon the terms and conditions as to payment of rental and otherwise for a term of 5 years as set forth in the Leasing Ordinance.
B. The St John's Kings Cross Leasing Distribution Ordinance 1992 provided for the application of the rental moneys arising from and incidental to the lease authorised by the Leasing Ordinance for the first and second years thereof and provided that the moneys arising in respect of the third and fourth years of the term of the lease were to be distributed in accordance with a further ordinance a bill for which was to be presented by the churchwardens for the time being of St John's Kings Cross ("Churchwardens") before 30 November 1994.
C. This ordinance is presented by the Churchwardens in compliance with that obligation.
Now the Standing Committee of the Synod of the Diocese of Sydney in the name and place of the said Synod Hereby Ordains Declares Directs and Rules as follows.
1. This ordinance may be cited as the "East Sydney (Kings Cross) Leasing Distribution Ordinance 1994".
Application of Proceeds
2. The rental moneys referred to in clause 5(b) of the Leasing Ordinance shall be applied by the Property Trust in payment of the costs of and incidental to this ordinance and subject to such administrative charges and commissions properly payable to the Property Trust, then such moneys shall be held and paid upon trust as follows -
3. The balance of the rental moneys shall be applied as follows -
4. Pending the application of the rental moneys under clauses 2 and 3 those moneys shall be invested by the Property Trust.
I Certify that this Ordinance was passed by the Standing Committee of the Synod of the Diocese of Sydney on 24 October 1994.
I Assent to this Ordinance.
Archbishop of Sydney
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