CHAPTER 60. An Act to Provide for the Funding of the Floating Debt Preamble. Town author- poses. Whereas, the town of Antigonish is indebted to the agency of the Royal Bank of Canada, at Antigonish, in the sum of five thousand dollars, or thereabout, upon which said town is at present paying interest at the rate of six per centum per annum, and is also indebted to the municipality of the county of Antigonish in the sum of three thousand dollars, or thereabout; And whereas, the town council of the said town of Antigonish is desirous of paying off said indebtedness, and of funding the said debt at a lower rate of interest; Be it therefore enacted by the Governor, Council, and Assembly, as follows: 1. The town of Antigonish is authorized to borrow, on the credit of the said town, a sum not exceeding certain pur five thousand dollars ($5000.00) for the purpose of paying off the floating debt of said town, being the amount due from the said town to the said Roval Bank of Canada, and also a further sum not exceeding three thousand dollars ($3000.00) to pay off an indebtedness to the municipality of the county of Antigonish. borrowed by debentures. Said sum to be 2. Such sum or sums shall be borrowed on debentures bearing interest at a rate not exceeding five (5) per centum per annum, redeemable in twenty years from the issue thereof. 3. Such debentures, and the money so borrowed, Debentures, to shall form a lien upon, and be a charge against, all the property liable to taxation, and the revenues of the said town of Antigonish. pal Debentures 4. Such debentures shall be issued under the Debentures to be issued under terms, and subject to the provisions of, The Municipal "The MuniciDebentures Act, chapter 7 of the acts of 1902, and acts Act." in amendment thereof, and for sums of one hundred dollars ($100.00), or any multiple thereof. provided for. 5. The town council shall annually add to the Interest to be amount to be rated and levied upon the real and personal property of the town for general purposes, a sum sufficient to pay said interest and the expenses of collecting and disbursing the same, and shall also provide for the payment of said debentures as herein. provided. 6. In order to provide a sinking fund for the pay- Sinking fund. ment of the debentures authorized to be issued by this act, the town council shall annually include in the amount estimated for the general purposes of said town, such sum, not however, to be less than three per cent. of the amount borrowed under the authority of this act, as the council may by resolution -determine, and such sum shall be rated, levied, and collected in the same manner, and with the same remedies, as other rates and taxes in said town are rated, levied, and collected. 7. Such sinking fund shall be deposited in one or more of the agencies of the chartered banks carrying on business in the said town of Antigonish, to the credit of an account to be called "The Town of Antigonish Funding Debt Account, 1909," and shall, with the interest thereon, be used for paying off the debentures issued under this act, and for no other purpose. Ratepayers, held. 8. No money shall be borrowed under this act meeting to be until a meeting of the ratepayers of the said town has been called pursuant to the provisions of sections 143 and 144 of the "Towns Incorporation Act," and amendments thereto, and the said meeting has approved and ratified, by majority vote, the borrowing of the amount proposed by this act. Certificate necessary. 9. A certificate under the hand of the mayor and town clerk of the said town, and under the corporate seal of the town, that such resolution was passed at such meeting of the ratepayers, shall be conclusive evidence of the due passing of same in accordance with this act. CHAPTER 61. An Act to Enable the Municipality of the County of Municipality authorized to sell or Be it enacted by the Governor, Council, and Assembly, as follows:- 1. The municipality of the county of Antigonish lease is authorized to sell or lease, on the best terms that old county jail. can be obtained, the old county jail building in the town of Antigonish, on such terms as to the removal of the same or otherwise as the council prescribes. Proceeds, how applied. 2. The proceeds from any such sale or lease shall be applied towards the cost of completing and furnishing the new jail building in the town of Antigonish. CHAPTER 62. An Act in relation to Polling Division Number 17, in the County of Antigonish. (Passed the 23rd day of April, A. D. 1909.) SECTION 1. Angus McPherson's farm lot included in Polling Division No. 17. Be it enacted by the Governor, Council, and Assembly, as follows: 1. Angus McPher included in The farm lot on Irish Settlement Road, in the son's farm lot County of Antigonish, at present occupied by Angus polling division D. McPherson, shall be included in Polling Division No. 17. Number 17, in the said county, and hereafter the occupants of said farm lot shall vote in said Polling Division Number 17; provided, however, that this act shall not affect any election of a municipal councillor. CHAPTER 63. An Act in Reference to the Municipality of Barrington. (Passed the 23rd day of April, A. D. 1909.) SECTION. 1. Be SECTION. Tax exemption for certain purpose. 2. Exemption, when to begin. it enacted by the Governor, Council, and Assem bly, as follows: 1. Tax exemp The land, buildings, machinery, wharf and tion for certain dwelling house, which may be erected for the manager purpose. by the dicate, manufacturers, manufacturing company, syn- and carry on the business of cold storage within the apply to any company store or other building not Exemption, when to begin Exemption, when to cease. strictly connected with the cold storage business of the company, nor to the land on which the same is erected, nor to other goods or merchandise kept for sale or to be supplied to those employed in said business or to other persons. 2. The exemption of taxation shall begin when the real estate for the said cold storage business and purposes has been purchased and the buildings are in course of erection thereon, and the value of the same, together with material and plant, are on the said land, amounting in all to at least the sum of forty thousand dollars. 3. If the work is not commenced and prosecuted on or before the first day of September, A. D, 1909, or, if after acquiring the real and personal property mentioned in the second section of this act, any of the property hereby exempted from taxation shall cease to be used by the said manufacturers, company. or association, as and for a cold storage business for one year, then, and in each of such cases or events, the exemption shall cease, and the said property shall be assessed at its actual value in the same way as other real and personal property in said municipality. Preamble. CHAPTER 64. An Act to Enable the Inhabitants of Bear River to Whereas, it is desirable to afford the inhabitants of Bear River the means of providing themselves with 15. Money collected, to whom paid. |