Commissioners, a body corporate.

May acquire electric current.

Money required to be rated and assessed.

Amount may

be increased

and give such security for the faithful performance of his duties as the Commissioners shall determine.

8. The Commissioners appointed under the provisions of this Act shall be a body corporate for the prosecution and defence of all actions and suits in respect to the system of street lighting within the district, and other necessary purposes for the carrying out of the objects of this Act, under the name of "The Commissioners for Street Lighting for the District of Weymouth."

9. The Commissioners are authorized and empowered to acquire electric current by purchase or otherwise from any corporation, association, commission or person and to construct, maintain and operate an electric lighting and electric power plant and system in the district for the purpose of providing the inhabitants of the district with electric light and power, including the lighting of the streets in said district, the generating of electrical energy and to sell and dispose of such electrical energy, and the Commissioners may acquire such property, real and personal, enter into such contracts and do all such things as are incidental or conducive to the attainment of the objects of the Commissioners.

10. The amount of money, not exceeding six hundred dollars, required for providing and maintaining such street lighting system, shall be annually determined by said Commissioners, and shall be rated and assessed by them on income, and on the real and personal property within the district, according to the Municipal Assessment Rolls applicable to the said district for the current year.

་

11. The limit of six hundred dollars named in the upon approval last preceding section may be increased if such inof ratepayers. crease be approved by a majority of the ratepayers present at a meeting held under the provisions of Section 3 of the Act.

Rate roll.

12. The Commissioners shall prepare a rate roll, showing the assessment made for the purposes of this Act and shall furnish the same, signed and certified

by them, to the Clerk of the Municipality of the County of Digby, on or before the first day of March in each year, and the amounts rated therein upon each ratepayer for lighting purposes shall be collected as a part of the municipal rates and taxes, with the same remedies for non-payment.

ment covers

13. In any case where the assessment for munici- Where assesspal purposes covers property in part situated outside property outof the limits of the district, the Commissioners may allow such abatement of rates as they deem just.

side limits.

applied.

14. The moneys levied and collected under the Money, how provisions of this Act shall be paid over by the Treasurer of the Municipality to the Secretary-Treasurer of the Commission on or before the first day of December in each year, and shall be expended by the Commissioners in providing and maintaining street lights within the district aforesaid.

vouchers.

15. The Commissioners shall render an account of Accounts and the expenditure of the said moneys, accompanied with proper vouchers therefor, to the Treasurer of said Municipality, at least one week before the annual meeting of the Municipal Council.

andregulations.

16. The said Commissioners may make, alter or By-laws, rules amend such by-laws, rules and regulations as may be deemed necessary for the control and management of the said corporation and are not inconsistent with the laws of the Province; but such by-laws, rules and regulations, and all amendments thereto, shall be subject to the approval of the Governor-in-Council.

CHAPTER 113.

Act amended.

Debentures.

Sinking fund.

An Act to Amend an Act of the Present Session, en-
titled, "An Act to Enable the Inhabitants of
Weymouth to Provide Themselves with a
System of Street Lighting.

(Pa sed the 29th day of April, A. D., 1922).

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

An Act of the present session, entitled, “An Act to Enable the Inhabitants of Weymouth to Provide Themselves with a System of Street Lighting," is hereby amended by adding to Section 10 the following sub-sections:

(1) For the purpose of constructing an electric light and electric power plant and system or either of them or any extensions or additions thereto or alterations thereof, the Commissioners are authorized and empowered to make, issue and sell from time to time or at one time as they deem expedient, debentures in such form for such separate sums and at such rate of interest, not exceeding six per centum per annum, and the principal and interest thereof, payable at such periods, not exceeding thirty years from the date thereof, and at such places as the Commissioners deem expedient; provided, that the whole amount of such debentures shall not exceed the sum of twenty thousand dollars, and such debentures and the interest coupons thereof, if any, shall be duly executed when signed by the Commissioners, and shall be a lien and charge upon the moneys, funds, revenues, property and assets of the Commissioners.

(2) Whenever any such debentures are made, issued and sold the Commissioners shall provide for a sinking fund with respect thereto, and the amount to be paid annually into the sinking fund shall be sufficient to provide for the payment of the debentures when the same are payable, assuming that such sinking fund will earn interest compounded yearly at the The first payrate of five per centum per annum.

ment in such sinking fund shall be made within one year from the sale of the debentures.

sums, how

assessed.

(3) Any moneys required, not exceeding six hun- Additional dred dollars, for the purposes of the Commissioners, in rated and addition to moneys borrowed as aforesaid, shall be annually determined by the Commissioners and shall be rated and assessed by them on income and on the real and personal property within the district, according to the municipal assessment rolls applicable to the said district for the current year.