CHAPTER 101. An Act Relating to Assessment for Joint Expenditure (Passed the 19th day of March, A. D. 1926.) WHEREAS under the provisions of Chapter 154 Preamble. of the Acts of 1920, the Cape Breton Joint Expenditure Board appointed a Commissioner for the purpose of making a valuation of the rateable property in the Municipality of the County of Cape Breton, and for the purpose of determining the objects of Municipal Expenditure, which are for the joint benefit of the said County, the City of Sydney, and the various incorporated Towns within the County of Cape Breton; AND WHEREAS the time limited in said Act for re-adjustment of the findings of said Commissioner has expired; AND WHEREAS by a resolution passed at a meeting of said Cape Breton Joint Expenditure Board, held on the 12th day of October, 1925, it was decided to extend the said period for re-adjustment for a further period of two years; Be it enacted by the Governor, Council and Assembly as follows: I. in force 1926 1. The valuations and findings made by the Com- Valuations and missioner appointed under the authority of Chapter Commissioner findings of 154 of the Acts of 1920, shall be and remain in force and 1927. for the years 1926 and 1927, and the said valuations and findings are hereby declared to be legal and valid and to be conclusive and binding upon the said Municipality, the said City and Towns for all purposes mentioned in said Chapter 154 of the Acts of 1920. CHAPTER 102. Preamble. Grants to An Act to Ratify and Confirm an Expenditure Authorized by the Cape Breton Joint Expenditure Board for the Year 1926. (Passed the 19th day of March, A. D. 1926.) WHEREAS, the Cape Breton Joint Expenditure Board at its session of January, 1926, agreed to grant Bairncroft Orphanage, and St. Mary's Home, the sum of One Thousand Dollars ($1,000.00) each and also agreed to grant the Old Home Week Committee of Cape Breton the sum of Fifteen Hundred Dollars ($1,500.00); Be it enacted by the Governor, Council and Assembly, as follows: Bairncroft and I. 1. The said grant of One Thousand Dollars St. Mary's ($1,000.00) each to Bairncroft Orphanage and St. and confirmed. Mary's Home, and the said grant of Fifteen Hundred Home legalized Dollars ($1,500.00) to the Old Home Week Committee of Cape Breton is hereby declared to be an expenditure for the joint benefit of the Municipality of the County of Cape Breton, the City of Sydney and the several incorporated Towns within the County of Cape Breton, and the same is hereby legalized, validated, ratified and confirmed, and is declared to be as effectual and binding upon the Municipality of the County of Cape Breton, the City of Sydney, and the several incorporated towns within the County of Cape Breton, and to have the same force and effect as if the same had been determined as an object of municipal expenditure for the joint benefit of the said Municipality, City and Towns in accordance with Section 1 of Chapter 154 of the Acts of 1920, and included in the report made under the provisions of Section 3 of the said Act. CHAPTER 103. An Act to Enable the Municipality of the County of Municipality of the County of Cape Breton, and to ratify vances. (Passed the 19th day of March, A. D. 1926.) Be it enacted by the Governor, Council and Assembly, as follows: borrow. 1. The Municipality of the County of Cape Breton Authority to is authorized to borrow or raise by way of loan on the credit of the said Municipality the sum of Twentyfour Thousand Dollars ($24,000.00) for the purpose of paying off the indebtedness due the said Royal Bank of Canada on account of certain advances set out in section 7 hereof. 2. Where any money is borrowed or raised by Sinking Fund. the issue and sale of debentures of the said Municipality under this Act, and the Municipal Debentures Act, the Council of the Municipality shall provide for a sinking fund in respect to such debentures. The amount to be paid annually into the sinking fund shall not be less than fifteen per centum of the aggregate amount of said debentures, and shall not be more than the Council deems sufficient to provide for the payment of the debentures when the same are payable, and the first payment into such sinking fund shall be made within one year from the date of the debentures. 3. Every sum required for (a) Interest on such debentures; (b) The sinking fund so provided; Interest and Sinking Fund lawful charges. Debentures. Terms of Interest and Sinking Fund, collected. shall be held to be sums required for the ordinary lawful purposes of the said Municipality, and, subject to Section 8 hereof, shall be raised, levied and collected in the same manner and in all respects as other sums required for the ordinary lawful purposes of the said Municipality are raised, levied and collected. 4. The Warden and Clerk of the said Municipality are authorized and empowered on behalf of the said Municipality to borrow or raise the said sum of Twenty-four Thousand Dollars ($24,000.00) or any part thereof by the issue and sale of debentures of the said Municipality under this Act, and the Municipal Debentures Act, to such an amount as they deem necessary to raise the sum to be borrowed, and to sell and dispose of such debentures for such price or prices, and on such terms and conditions and in such manner as they deem most advantageous to the Municipality. 5. Such debentures shall (a) bear such date; (b) be payable at such time not exceeding six years from the date thereof at such place or places; (c) bear interest at such rate not exceeding five and one-half per centum per annum payable halfyearly at such place or places; as the said Warden and Clerk deem expedient. 6. In order to provide for the half-yearly interest how levied and payable on said debentures and to provide a sinking fund for the retiring of the debentures authorized to be issued under this Act, the Clerk of the Municipality of the County of Cape Breton is hereby authorized and empowered annually to add to the poor rate in each of said Districts, 1, 4, 11 and 20, and to the poor rate levied on that section of District No. 12 comprised in the village of Birch Grove and known as "the electric light area," in said district, an amount suffi cient to cover the proportion of the total sinking fund and interest on said debentures represented by the amount advanced to each of said Districts respectively plus the costs of collecting same, as a special poor rate, in accordance with the terms of a resolution passed at the January session of the Council of the said Municipality, on the 22nd day of January, 1926, and the said sum shall be in addition to any amount voted by the Council of the Municipality for the ordinary poor rate in said Districts No. 1, 4, 11 and 20, and in the said portion of District No. 12, and the said sums may be so levied by the Municipal Clerk and be collected in the same manner and with the same remedies in all respects as any other rate or tax in the Municipality is rated, levied and collected. ance Committee advances legal firmed. 7. The action of the Finance Committee of the Action of FinMunicipal Council of the Municipality of the County in authorizing of Cape Breton in authorizing the advance by the ized and conTreasurer of the Municipality of the County of Cape Breton of the sum of Twenty-Two Thousand, Five Hundred Dollars, ($22,500.00) to the Overseers of the Poor for Districts Numbers 1, 4, 11, 12 and 20 in the following proportions, that is to say, To the Overseers of the Poor for Dist. No. 1, $4,500.00. To the Overseers of the Poor for Dist. No. 4, $5,500.00. To the Overseers of the Poor for Dist. No. 11, $5,500.00. To the Overseers of the Poor for Dist. No. 12, $5,500.00. To the Overseers of the Poor for Dist. No. 20, $1,500.00. For the purpose of affording relief to the unemployed at the Colleries of the said respective districts during the year 1925, is hereby legalized, ratified and confirmed and the action of the Treasurer of the Muni |