shall have been approved by a resolution of the municipal council of said municipality at a regular or special meeting of the said council. CHAPTER 74. An Act to amend an Act of the present session, entitled, Small-pox Accounts." (Passed the 7th day of April, A. D., 1905.) SECTION 1. Money borrowed, how chargeable. Be it enacted by the Governor, Council, and Assembly, as follows: The Act of the present session entitled, "An Act to enable the Municipality of the county of Cape Breton to borrow money to pay Small-pox Accounts," is hereby amended. by adding thereto the following clause : how chargeable. 1. "The money borrowed under the said resolution, or Money borrowed, this Act, and the interest accruing due thereon, shall be a charge on the taxes and all other resources of the said municipality." CHAPTER 75. An Act to enable the Municipality of Cape Breton County to borrow money by resolution of Council. (Passed the 7th day of April, A. D., 1905.) SECTION I. Power to borrow. Be it enacted by the Governor, Council, and Assembly, as follows: 1. The municipality of the county of Cape Breton is Power to borrow, hereby empowered to borrow by resolution, from time to time, from any chartered bank or other monetary institu tions, either by promissory notes or overdrafts, such amount of money as may be requisite to meet the current legal expenditure and liabilities of the corporation which become payable before the revenue for the year is collected or paid. Such sum shall never at any one time exceed an amount equal to one half of one per centum of the total assessed valuation of such municipality, and when the amount is borrowed as provided for in this section, the power to borrow shall cease until the said promissory notes or overdrafts have been paid or reduced, when the power may again be exercised to the limit mentioned. Such resolution shall provide (a) That the money so borrowed shall be repaid on or before the 15th 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 overdraft be authorized by the warden and the treasurer of said municipality. * (d) CHAPTER 76. An Act to legalize and confirm the findings of the commission appointed under Chapter 74, Acts of 1903-4. Preamble. SECTION. 2. Statement transmitted declared binding. 3. Amended report.. Whereas, by chapter 74 of the Acts of the Legislature of Nova Scotia, 1903-4, the Governor-in-Council was authorized to appoint and did appoint, a commission to make a valuation upon a uniform standard of the property liable to be rated in the municipality of the county of Cape Breton, the city of Sydney, and the towns of North Sydney, Sydney Mines, Glace Bay, and Louisburg, respectively, and report the said valuation when made to the warden of the said municipality and the mayors of the said city and towns; And whereas, the said commission did make a valuation and did report the same as required: And whereas, it has been agreed by and between the said municipality and the said town of Glace Bay that the said report be amended by deducting the sum of seven hundred thousand dollars from the amount apportioned to the town of Glace Bay, and by adding the sum of seven hundred thousand dollars to the amount apportioned to the municipality of Cape Breton; Be it therefore enacted by the Governor, Council, and Assembly, as follows: and binding. 1. The report of the commission appointed under said Report legal chapter 74 of the Acts of 1903-4 as amended, is ratified, confirmed and declared to be legal and binding upon said municipality, the city of Sydney and the several incorporated towns in the county of Cape Breton. mitted declared 2. The statement in writing transmitted to the city of Statement transSydney and the several incorporated towns by the munici-binding. pal clerk, as required by section 66, sub-section two of chapter seventy-three, R. S. N. S., 1900, upon the basis of the amounts apportioned to the municipality, the city of Sydney and the several incorporated towns, respectively, for the year 1904, is declared to be legal and binding upon the several corporations mentioned. 3. The said amended report shall be the basis upon Amended report. which the municipal clerk shall prepare the statement in writing required by said sub-section two of section sixtysix of chapter seventy-three, R. S. N. S., 1900, while the said report continues in force under and by virtue of said chapter seventy-four of the Acts of the Legislature of Nova Scotia, 1903-4. Name changed. CHAPTER 77. An Act to change the name of a Settlement in the County of Cape Breton. (Passed the 7th day of April, A. D., 1905.) SECTION I. Name changed. Be it enacted by the Governor, Council, and Assembly, as follows: 1. The district or settlement heretofore known as "Polling district number twenty-one, Loch Lomond," in the county of Cape Breton, shall on and after the passing of this Act be known as Enon." CHAPTER 78. An Act to enable the Municipality of the County of Antigonish to borrow money. Be it enacted by the Governor, Council, and Assembly, as follows: Power to borrow. 1. The municipality of the county of Antigonish is authorized to borrow on the credit of said municipality, a sum not exceeding twenty-two thousand dollars, for the purpose of paying off existing liabilities of said municipality. Money, when deposited. Money, how secured. 2. The money so borrowed shall be deposited with the treasurer of the municipality, and shall be paid out by him on the written order of the warden and municipal clerk. 3. The money so borrowed and the interest thereon, shall be secured by debentures redeemable at a period not exceeding thirty years, bearing interest at a rate not exceeding five per centum per annum, such interest to be payable half yearly at the office of the treasurer of the municipality. 4. The debentures shall be for the sum of one hundred Debentures dollars or some multiple thereof, and payable at such times as the finance committee of the municipal council and the municipal clerk shall determine. In other respects the debentures and interest coupons shall conform to the requirements of "The Municipal Debentures Act." how chargeable, 5. The money so borrowed and the interest, shall be a Money, charge upon the property, funds and resources of the said municipality, and the council of 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 sum sufficient to pay said interest and the expenses 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 payment of Sinking fund. 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 sum as may by resolution be determined by the said council, not, however, to be less than two per cent. of the amount borrowed under the provisions of this Act, and such sum shall be rated and collected in the same manner and with the same remedies as other rates and taxes in said municipality are rated and collected. to apply. 7. The provisions of "The Municipal Debentures Act" Debentures Act shall apply to the loan authorized by this Act in so far as the same are not inconsistent herewith. |