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An Act to Enable the Town of Sydney Mines to Borrow
Town authorized to borrow $40,000.
to be issued.
Be it enacted by the Governor, Council, and Assembly, as follows:
1. The town of Sydney Mines is authorized to borrow, on the credit of the said town, the sum of forty thousand dollars, for the following purposes, that is to say:
(a) Five thousand five hundred dollars for water works extension, and providing further and additional supplies of water for the said town;
(b) Twenty thousand dollars for providing further and additional school buildings;
(c) Four thousand five hundred dollars for the purpose of defraying the balance of debt due on town hall;
(d) The sum of ten thousand dollars for repairs to streets and other street purposes.
2. (1) For the purpose of effecting the said loans the said town is empowered to issue, from time to time, and in whole or in part, as its council deems necessary and expedient, debentures, bearing interest at such rate as the council determines, not exceeding, however, five per centum per annum, payable half-yearly, and redeemable in thirty years from the issue thereof. Such debentures shall be issued under the provisions of the Municipal Debentures Act, 1902, in so far as the same are consistent with this act;
(2) Such debentures shall form a lien upon and be a charge against the property of the town of Sydney Mines, and all the revenues of the town.
3. The money borrowed under the provisions of Money to be this act shall be paid into the hands of the treasurer Treasurer. of the town of Sydney Mines, and shall by him be paid out as the town council of the said town shall determine, for the purposes contained in the first section of this act, and for no other purpose.
Interest to be
4. The town council shall annually add to the provided for. amount to be rated and levied upon the property liable to taxation within the said town for general purposes a sufficient sum to pay the said interest and expenses of collecting and disbursing the same, and shall also provide for the payment of the principal of the said debentures as they mature, as hereinafter provided.
5. To provide a sinking fund for debentures issued under this act, the council of the town of Sydney Mines shall annually add to the amount to be rated and levied upon the town of Sydney Mines such sum as the council by resolution may determine, not, however, in any case to be less than two per cent. of the amount borrowed under this act, and such sum shall be rated annually upon the property of the ratepayers of the town liable to assessment and shall be levied and collected in the same way and with the same remedies as ordinary rates and taxes.
6. Inasmuch as the ratepayers of the said town Town meeting have in manner by law provided already authorized the borrowing of the said sum hereby authorized, it shall not be necessary to convene any additional meeting of the said ratepayers as a condition precedent to the borrowing of said money, or any part thereof, or the issuing of said debentures, or the doing of any matter or thing by this act authorized.
An Act to Enable the Town of Truro to Borrow Money.
Power to borrow.
Be it enacted by the Governor, Council, and Assembly, as follows:
1. The Town of Truro is authorized to borrow on the credit of the town the sum of eighty-two thousand one hundred and twenty-five dollars, for the following purposes, that is to say:
Debentures and interest.
2. The said town shall issue debentures for said sum, redeemable in thirty years, which debentures shall be for such amounts as the mayor and town council shall determine, and which shall bear interest at a rate not exceeding four per cent. per annum. The money borrowed under this act, and the interest thereon, shall be a charge upon the property and funds of and shall be paid by the town, and the counci Ithereof shall annually make provision by rate and levy for paying the interest on such debentures at maturity. Such debentures shall be subject to the provisions of
"The Municipal Debentures Act, 1902," and amendments thereof, in so far as the same are consistent with this act.
3. The money borrowed by virtue of this act shall Money. to be paid into the hands of the treasurer of the Town of Truro, and shall be by him paid out as the town council of said town shall determine, for the purposes mentioned in the first section of this act, and for no other purpose.
4. The sinking fund for the payment of such de- Sinking fund. bentures required by the second section of this Act shall be provided for and applied in accordance with and in the manner provided for by Chapter 125 of the Acts of Nova Scotia, 1903, entitled, "An Act relating to the Debenture Debt of the Town of Truro."
5. Inasmuch as the ratepayers of the said town Ratepayers' have, in the manner by law provided, already authorized the town council to apply to the Legislature for authority to borrow said moneys and to make said expenditure, it shall not be necessary to convene any additional meeting of the said ratepayers, either under the provisions of "Towns' Incorporation Act" or under this Act, as a condition precedent to the borrowing of the moneys, the issuing of the town's debentures therefor, or the doing of any matter or thing by this Act authorized.
Be it enacted by the Governor, Council, and Assem
bly, as follows:
Mayor's salary confirmed.
Town to pay a salary to mayor.
Salary not to exceed $400.
Ratepayers' meeting necessary.
1. All payments at any time heretofore made by the Town of Truro, by way of salary or otherwise, to the various persons from time to time occupying the position of mayor of said town, are hereby legalized and confirmed, any statute of the Province of Nova Scotia to the contrary notwithstanding.
2. The town council of the Town of Truro is hereby authorized from time to time, and at all times hereafter, to pay to the mayor of the town for the time being, such salary or compensation for his services as such council shall deem proper, and shall annually add to the amount to be levied and assessed upon the real and personal property of the town for general purposes a sufficient sum to pay such salary or compensation.
3. The salary or compensation to be paid to the mayor of the town as provided for by Section 2 of this act shall not exceed the sum of four hundred dollars in any one year.
4. Sections two and three of this Act shall not take effect until the same are approved by a meeting of the ratepayers of the Town of Truro duly convened in accordance with the provisions of Sections 143 and 144 of the Towns' Incorporation Act.
An Act to Define the Boundaries of the Town of Tusket
WHEREAS, in compliance with the provisions of the Towns' Incorporation Act, a poll was held on the 28th day of November, 1908, by the Sheriff of the County of Yarmouth, to determine whether the voters at