2. For the purpose of effecting loans, under the author- Debentures. ity of this Act, the said Town Council is empowered to make and issue, subject to the provisions of "The Municipal Debentures Act, 1902," from time to time, as the Council may deem expedient, the town's debentures, each in the sum of one hundred dollars, or multiples thereof, bearing interest at such rate as the Council shall determine, not exceeding five dollars per centum per annum, said debentures to be redeemable within such periods, not exceeding thirty years from the date thereof, as the Council may determine.

3. Such debentures shall form a lien upon, and be a Lien. charge against, the property liable to taxation within the town of Inverness, and all the revenues of the town.

4.

The moneys so borrowed, under the provisions of To whom paid. this Act, shall be paid into the hands of the treasurer of the town of Inverness, and shall be by him paid out for the purposes mentioned in section one of this Act, and for no other purpose.

5. The Town Council shall annually add to the amount How rated. to be rated and levied upon the real and personal property of the town, for general purposes, a sufficient sum to pay said interest, and the expenses of collecting and disbursing the same, and shall also provide for the payment of the principal of said debentures as herein provided.

6. In order to provide a sinking fund for the payment Sinking fund. of the debentures authorized to be issued under this Act, the Town Council shall annually add to the general assessment to be levied upon the ratepayers of the said town, such sum as may be fixed by resolution of the Town Council, not, however, to be less than two per cent. of the amount borrowed under the provisions of this Act; and such sums shall be rated and collected in the same manner, and with the same remedies, as other rates and taxes of the said town are rated and collected.

7. No money shall be borrowed under the provisions of Town meeting. this Act until a meeting of the ratepayers of the town has been called pursnant to the provisions of sections 143 and 144 of "The Towns' Incorporation Act," and the said meeting has approved and ratified, by a majority vote, the borrowing of the amount proposed.

Evidence of resolution.

8. A certificate, under the hand of the mayor and town clerk, and under the corporate seal of the said town, of a resolution passed under section seven of this Act, shall be conclusive evidence of the adoption of the Act, and of the passing of the resolution provided for in said section.

By-laws legalized.

CHAPTER 114.

An Act to legalize the By-laws and Regulations of the
Municipality of the County of Inverness and the
By-laws adopted by the Council of said
Municipality for the Government of
the Inverness County Asylum
for the Insane.

(Passed the 25th Day of April, A. D., 1907.)

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

1. The by-laws and regulations of the municipality of the county of Inverness, and the by-laws adopted by the Council of said municipality for the government of the Inverness County Asylum for the Insane, as passed, amended, altered and repealed, from time to time up to the present, are hereby declared valid and binding, subject to the approval of the same by the Governor-in-Council, notwithstanding the provisions of section 144 of chapter 70 of the Revised Statutes, 1900, "The Municipal Act” have not been complied with.

CHAPTER 115.

An Act to enable the Municipality of the County of Inverness to borrow Money for the purpose of repairing and remodelling the County Court House.

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

borrow.

1. The municipality of the county of Inverness is Power to authorized to borrow a sum of money, not exceeding three thousand dollars ($3,000), for the purpose of repairing and remodelling the County Court House.

2. Such money to be borrowed as aforesaid shall be re- When repaid. paid in ten yearly instalments of three hundred dollars each. The municipality may issue debentures for raising such sum, with coupons attached, bearing such rate of interest as may be agreed upon by the municipality and lenders, not exceeding five per centum per annum. Such debentures shall be subject to the provisions of "The Municipal Debentures Act, 1902," in so far as the same are consistent with this Act.

3. It shall be the duty of the Municipal Council of the Interest, how provided. county of Inverness, in each and every year during which sum, or any part thereof, remains unpaid, to make provision for the payment of the interest on such outstanding debentures, and of the annual instalment of three hundred dollars, and should the Council fail to provide for the payment of the interest and yearly instalment, a Judge of the Supreme Court may, on summary application, amerce the municipality for the amount due thereon.

Authority.

Debentures,

when paid.

CHAPTER 116.

An Act to authorize the payment of Debentures out of the amount borrowed by the Municipality of the

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

1. The Council of the municipality of the county of Inverness is authorized to appropriate three thousand dǝllars of the moneys borrowed by the said municipality, under the provisions of chapter 81 of the Acts of 1900, to the payment of debentures of the municipality which have become due.

2. The treasurer of said municipality shall apply the said sum of three thousand dollars to the payment of said debentures when authorized by the Council so to do, and to no other purpose.

Boundary changed.

CHAPTER 117.

An Act to change the boundary of a Polling District in the County of Inverness.

(Passed the 25th day of April, A. D., 1907.)

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

1. The southern boundary of polling district No. 6, of Strathlorne, in the county of Inverness, is hereby changed as follows:

Commencing at a point of the present southern boundary line of said polling district No. 6, such point being the southeastern corner of the lands of the heirs of the late William McLellan, deceased; thence running southwesterly

by the western boundary of lands of Alexander McDonald, teacher, to the south western corner of lands of Alexander Gillis, mason; thence westerly by the southern boundary of said Alexander Gillis' lands to the general rear line of lots; thence northerly by said general rear line to the present southern boundary of said polling district.

CHAPTER 118

An Act to enable the Trustees of School Section, Number 13, in the County of Inverness, to borrow Money.

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

borrow.

1. The trustees of Seaside School Section, Number 13, Power to in the county of Inverness, are hereby authorized to borrow, on debentures, a sum not exceeding five hundred dollars for building a new school house.

2. Such debentures shall be issued under the hands of Debentures. the said trustees of said school section, and shall be countersigned by the secretary of the trustees, and shall be in the form of schedule "A" of this Act, and shall be for one hundred dollars each, and shall bear interest at a rate not exceeding six per centum per annum, and shall extend over a period not exceeding five years, and the same shall be a charge on all the real and personal property liable to be rated for school purposes for the said section in said county.

3: The trustees for the time being of said school section Principal and shall, and they are hereby authorized to, assess upon interest, how said paid. section, in addition to the amount assessed upon said school section for school purposes each year, a sum sufficient to pay the interest on the principal, or any such part thereof as may from year to year be still due and payable, and a yearly instalment, for repayment of said principal, of one hundred dollars, which instalment shall be applied each year by said trustees towards the payment of said loan, and for no other purpose.