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2. The said resolution shall provide (a) that the What to state.

Resolution, money so borrowed shall be payable and repaid on or before the fifteenth day of January in the following year. (b) That it shall be a liability payable out of the revenue of said municipality for the year. (c) That the promissory notes given shall be signed, or the over drafts be authorized, by the warden and treasurer of said municipality. (d) The maximum amount to be borrowed and the maximum rate of interest to be paid, and the date on or before which the principal and interest shall be payable.

in force.

3. This act shall not conie into force until approved Act when of and adopted by the council of the said municipality at a regular meeting of said council, whereupon chapter 75 of the Acts of 1905 and the acts in amendment thereof shall be and become repealed.

CHAPTER 72.

An Act in relation to the Municipality of the District

of Clare.

(Passed the 23rd day of April, A. D. 1909.)

SECTION 1. Sum to be rated for 1909, to be determined by Council.

Be it enacted by the Governor, Council, and Assembly, as follows:

for 1909

deter mined by

1. Notwithstanding any of the provisions of chapter Sum to be 4 of the acts of 1908, the sum to be rated for the to be year 1909, upon the real and personal property within council the municipality of the district of Clare, according to the assessment roll, may be determined by the council at the half-yearly meeting in said year 1909.

CHAPTER 73.

An Act to Change the Name of Folly Village, in the

County of Colchester.

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Be it enacted by the Governor, Council, and Assembly, as follows:

Name changed. 1. Folly Village, in the county of Colchester,

shall hereafter be called and known as “Glenholm."

CHAPTER 74.

An Act to Enable the Municipality of Colchester to

Borrow Money.

(Passed the 23rd day of April, A. D. 1909.)

SECTION.

Preamble.
Municipality authorized to

borrow $5,000.00 for certain

purpose.
2. Money borrowed, how paid

out.
3. Debentures to be issued.

SECTION.
4. Debentures to be for $100 00

or multiples thereof.
. 5. Money borrowed to be .

lien, and interest to be pro

vided for. 6. Sinking fund. 7. Municipal Debentures Act to

apply.

Preamble.

Whereas, by a resolution passed by the municipal council for the municipality of the county of Colchester, on the 15th day of January, 1909, it was resolved that the Legislature of Nova Scotia be asked to pass an act empowering the said municipality to borrow the sum of five thousand dollars to pay debts incurred by the municipality;

Be it therefore enacted by the Governor, Council, and Assembly, as follows:

Municipality authorized to

purpose.

1. The municipality of the county of Colchester borrow $5,000 is authorized and enipowered to borrow on the credit

of the said niunicipality the sum of five thousand dullars for the purpose of paying debts incurred by the municipality.

2. The money so borrowed shall be deposited Money borrow with the treasurer of the said municipality, and shall out. be paid out by him on the written order of the clerk of the said municipality.

3. The money so borrowed with interest thereon Debentures to shall be secured by debentures redeemable at a period not exceeding thirty years, bearing interest at four per centum per annum, payable at the office of the treasurer of the said municipality.

be a lien,

4. Each of the debentures to be issued under Debentures to

be for $100.00 the authority of this act shall be in the sum of one of multiples hundred dollars or multiples thereof, and shall be numbered consecutively.

5. The moneys so borrowed and the interest Money borrowthereon shall be a charge upon the property, funds and interest to and resources of the said municipality, and the council for. of the said municipality shall annually add to the amount to be rated and levied upon the real and personal property and income of the municipality for general purposes, a sufficient sum to pay said interest and the expense of collecting and disbursing the same, and shall in like manner provide for the payment of the principal of said debentures as they mature.

6. In order to provide a sinking fund for the Sinking fund. payment of the debentures authorized to be issued under this act, the municipal council shall annually, while such debentures are unpaid, add to the amount to be rated upon the ‘municipality for general purposes such sums as may by resolution be determined by the said council, not, however, to be less than two and one-half per cent. of the amount borrowed under the provisions of this act, and such sum shall be rated and collected in the same nianner and with the sanie remedies as other rates and taxes in said municipality are rated and collected.

Debentures

7. The provisions vf the Municipal Debentures Municipal Act, 1902, shall apply to the loan authorized by Act to apply this act, in so far as the sanie are not inconsistent therewith.

CHAPTER 75.

An Act relating to the Town of Dartmouth.

(Passed the 23rd day of April, A. D. 1909.)

SECTION
1. Taxation, limit of and privi-

leges created by act, etc.
2. Consumers' Cordage Company,

how assessed.
3. $7,435.00 amount awarded,

to be deposited and drawn

as council directs.
4. Commission of Industries, how

composed.

SECTION.
5. Section 159, Chapter 50, Acts

1902, repealed, another sub

stituted. 6. Debentures, how issued. 7. Power to acquire certain land. 8. Sinking fund. 9. Town meeting. 10. Dartmouth Reading Room.

Be it enacted by the Governor, Council, and Assembly, as follows:

Taxation,
limit of and
privileges
created by Act,
etc.

1. Whereas, Robert Christie of Aberdeen, in Scotland, fish merchant, either personally or with copartners in business, or a company to be promoted by him and his associates, contemplates establishing the business of catching, curing, smoking and canning fish, and generally of conducting a fish business in all its branches, and with headquarters of said business in the town of Dartmouth;

And whereas, the town council of the town of Dartmouth has approved of the privileges and exemptions conferred by this act;

Any and all real estate within the town of Dartmouth, now owned, or hereafter to be acquired, by the said Robert Christie or his partners in business, or any company hereafter to be incorporated or promoted as aforesaid, is and shall be, while said business is carried on in Dartniouth, and said real estate is used in said business, liable to taxation to the amount of the present assessed value thereof, and no more, for and during the full term or period of fifteen years, dating from the first day of January, A. D. 1909.

And the said Robert Christie and his partners in business and any company hereafter to be incorporated or promoted as aforesaid, and each and every of them while carrying on said business in the town of Dartmouth as aforesaid, shall for a period of fifteen years, dating from the first day of January, A. D. 1909, be exempt from the payınent of all or any taxes, rates or assessments (including water rates) to the said town of Dartmouth, on any personal property owned by them, or any of them, which shall be acquired and used for the purposes of said business.

The said Robert Christie and his partners as aforesaid, and any such company as aforesaid, shall in lieu of payment of water rates pay for all water used in said business at the rate of nine cents per one thousand gallons, but shall pay a minimum rate of fifty dollars per annum.

Provided, however, that the provisions of this section shall not be operative until an agreement shall have been made and entered into between the said town of Dartmouth and the said Robert Christie, his co-partners in business or any company promoted by him and his associates, of and concerning the matters and things set out in said section 1; and that such agreement shall have been approved by the Governor-in-Council.

The privileges and exemptions created by this act are made upon the express condition that there shall be continuously in each year of said term employed in said business at least forty hands, and in default of such employment, thereupon the exemptions and privileges created by this act shall cease and determine.

Cordage Com

assessed.

2.

The real property at Dartmouth now owned Consumers' by the Consumers' Cordage Company, and used by it panys how in its manufacturing business, and all personal property now owned by said company or which shall hereafter be acquired by it, shall be assessed at a sum not greater than that at which it is assessed for real and personal property for the year 1909.

This exemption shall not affect the right of the town to assess for and collect water rates, or to assess any lands and premises used or occupied by said company as dwelling-houses or places of residence, for taxes and water rates.

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