CHAPTER 70. An Act to Authorize the Town of Liverpool to Borrow (Passed the 13th day of April, A. D. 1922.) Be it enacted by the Governor, Council, and Assembly, as follows: borrow $2,600, 1. The Town of Liverpool is authorized to borrow Authority to or raise by way of loan on the credit of the Town the sum of two thousand six hundred dollars ($2,600) for the purpose of defraying the amount expended in the year 1921 for extension of Water Works system on Park Street and Waterloo Street. 2. Where any money is borrowed or raised by the Sinking fund. issue and sale of debentures of the Town of Liverpool under this Act and The Municipal Debentures Act, 1914, as amended, the Council of the Town of Liverpool shall provide for a sinking fund with respect to such debentures, the amount to be paid annually into the sinking fund to be not less than two per centum of the aggregate amount of said debentures, and to be not more than the Council deems sufficient to provide for the payment of the debentures when the same become 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; shall be held to be sums required for the ordinary lawful purposes of the Town of Liverpool, and shall be raised, levied and collected in the same manner and in all respects as other sums required for the ordinary law ful purposes of the Town of Liverpool are raised, levied and collected. Interest and sinking fund lawful charges CHAPTER 71. Authority to An Act to Authorize the Town of Lockeport to Borrow Money for the Purpose of Providing Permanent Sidewalks. (Passed the 13th day of April, A. D. 1922.) Be it enacted by the Governor, Council, and Assembly, as follows: 1. The Town of Lockeport is authorized to borrow $5000. or raise by way of loan on the credit of the Town the sum of five thousand dollars ($5000.00) for the purpose of providing permanent sidewalks. Sicking fund. Interest and sinking fund lawful charges. 2. Where any money is borrowed or raised by the issue and sale of debentures of the said Town under this Act and the Municipal Debentures Act, 1914, as amended, the Council of the said Town shall provide for a sinking fund with respect to such debentures, provided that the amount to be paid annually into the sinking fund shall not be less than two 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; shall be held to be sums required for the ordinary lawful purposes of the said Town and 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 Town are raised, levied and collected. CHAPTER 72. An Act to Enable the Town of Middleton to Borrow (Passed the 18th day of April, A. D. 1922.) Be it enacted by the Governor, Council, and Assembly, as follows: borrow. 1. The Town of Middleton is hereby authorized to Authority to borrow on the credit of the Town such sum or sums of money, not exceeding in the aggregate thirty thousand dollars, for the purpose: (a) of retiring upon their maturity certain debentures of the said Town of Middleton issued in connection with the Electric Light and Power system of the said Town; (b) of paying indebtedness already incurred by the said Town for expenditures made in connection with the extension and improvement of the said Electric Light and Power system; (c) of further improving or extending the said Electric Light and Power system. 2. Where any money is borrowed or raised by the Sinking fund. issue and sale of debentures of the Town under this Act and the Municipal Debentures Act, 1914, as amended, the Council of the Town shall provide for a sinking fund with respect to such debentures; provided that the amount to be paid annually into the sinking fund shall not be less than two 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; Interest and sinking fund lawful charges. Approval of quired. (b) the sinking fund so provided; shall be held to be sums required for the ordinary lawful purposes of the Town and 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 Town are raised, levied and collected. 4. The Town shall not borrow the said sum authratepayers re- orized by this Act nor any part thereof, nor issue any debenture therefor, unless and until the proposal to borrow shall have received the approval of a majority of the ratepayers of the said Town, voting at a regular meeting of the ratepayers of the said Town of Middleton duly convened under the provisions of Sections 143 and 144 of the Towns' Incorporation Act. Certificate. 5. A certificate under the hands of the Mayor and Town Clerk and under the corporate seal of the Town, of a resolution passed at a regular meeting, provided for in Section 4 of this Act, shall be conclusive evidence of the passing of such resolution. CHAPTER 73. An Act to Enable the Town of New Glasgow to Borrow Money to Provide Work for the Unemployed. (Passed the 29th day of April, A. D. 1922). Be it enacted by the Governor, Council, and Assembly, as follows: borrow $50,000. 1. The Town of New Glasgow is hereby authorized Authority to and empowered to borrow on the credit of the Town the sum of fifty thousand dollars for the purpose of providing work for the unemployed. 2. For the purpose of effecting the loans authoriz- Debentures. ed by this Act, the Town Council of the Town of New Glasgow is empowered to make and issue subject to the provisions of the Municipal Debentures Act, 1914, and amendments thereto, at any one time or from time to time, as determined by resolution of the Town Council, debentures as hereinafter mentioned, bearing interest at a rate not exceeding five and a half per centum per annum and payable at such time or times as may be declared by resolution of Council, not exceeding ten years from the issue thereof (and at such place either in Canada or United States, as the Council determines). Such debentures shall be each for: (a) the sum of one hundred dollars or some multiple thereof. 3. Such debentures shall form a lien upon and be Lien. charged against all the property liable to taxation within the Town of New Glasgow and all the revenues of the Town. applied. 4. The money borrowed under the provisions of Money, how this Act shall be paid into the hands of Treasurer of the Town of New Glasgow, and shall be by him paid out as the Town Council may direct for the purposes mentioned by this Act, and for no other purpose. 5. The Town Council shall annually add to the Interest. amount to be assessed and levied upon the real and personal property of the Town, for general purposes, a |