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8. If at any time the town acquires such additional Free lighting. power, as in the opinion of the Town Council will warrant the same, the town may furnish free lighting for the works of the company for twenty years from the passing of this Act, the number of such lights to be agreed upon hereafter, and may also supply electrical power at such rate as may be agreed upon, not, however, to exceed $25.00 per horse power per year of 365 days of twenty-four hours each, provided the cost of supplying such power does not exceed such sum.
9. The town may sell, or otherwise dispose of, such May sell bonds. bonds and other interest in said company, which it may hold, on such terms as may be fixed by the Town Councii.
10. The money received by the town for the redemption Proceeds of of the bonds held by the town, and the money received by it from the sale, or other disposal of such bonds and other interest in said company which the town may bold, shall be deposited to the credit of the town, on special account, in some chartered bank doing business in the town, and shall there remain at the then current rate of interest for such deposits, and the same shall only be withdrawn for the purpose of paying such money, and accrued interest thereon, on account of, and in reduction of, the bonded indebtedness of the town.
11. Notwithstanding anything contained in any statute, Generad
provisions. memorandum of association, articles of association or bylaws of the company, the following provisions shall, while any of the bonds held by the town are outstanding unpaid, be applicable to the company : (a) The board of directors shall include one member
to be appointed by the Town Council, whether
such director is a member of the company or not;
the property owned and property afterwards
(c) The expenditure of the proceeds of such bond
issue shall be subject to such regulations as shall
(d) The company shall not, either in the town of
Bridgewater, or elsewhere in the county of Lunenburg, carry on the business of dealers in dry goods, groceries, boots and shoes, hardware, or general merchandise.
Erection of poles by the oompany.
12. The said Town Council is authorized to permit along the sides of and across or under any public highways, streets, bridges or water courses in the town of Bridgewater, upon such terms and conditions as the Town Council may consider proper, and the Councils of the municipalities of Lunenburg and Queens are authorized to permit along the sides of and across or under any public highways, streets bridges or water courses, in such municipalities respectively, upon such terms and conditions as the Councils of such municipalities respectively may consider proper, the erection and maintenance of poles, and an electric transmission line for the purpose of supplying electrical power and energy to such car manufacturing works.
(1) Provided, however, that the said company shall not for the purpose of conveying galvanic or electric current, string or extend any wires over or along its poles or supports, without first obtaining the approval of the Governor-in-Council.
(2) Before giving such approval, the Governor-inCouncil shall fix a time for the hearing of such application by the company, and shall give such notice thereof, and to such persons as is deemed fit, and at the time and place appointed, any person may appear, in person or by counsel, and oppose such application, and the Governor-in-Council may refuse such application, or allow the same, in whole or in part, and on such terms and conditions, and make the necessary regulations so as to ensure the safety of the public on such public highways, streets, bridges or watercourses, as to the Governor-in-Council appears just and reasonable.
13. The debentures authorized to be issued under the provisions of this Act, shall form a lien upon and be a charge against the property liable to taxation within the town of Bridgewater, and all the revenues of the said town.
Money, to whom paid.
14. The money borrowed under the provisions of this Act shall be paid into the hands of the treasurer of the town of Bridgewater, and shall by him be paid out, as the Town Council of said town may determine, for the purposes
contained in the first section of this Act, and for no other purpose.
15. The Town Council shall annually add to the amount Interest, how
provided. 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 they mature.
16. Inasmuch as the ratepayers of the said town have Town meeting in the manner by law provided already authorized the town to apply to the Legislature for leave to borrow said moneys, under the provisions of this Act, and to issue the town's debentures therefor, and have approved of this Act and of the proposed financial aid, exemptions from taxation, and other concessions granted or to be granted thereunder, as set out in this Act, it shall not be necessary to convene any additional meeting of the said ratepayers, either under the provisions of “The Towns' Incorporation Act,” or under this Act, as a condition precedent to the issuing of said debentures, or the doing of any matter or thing by this Act authorized.
An Act to enable the Town of Bridgewater to borrow
(Passed the 25th day of April, A. D., 1907.)
6. How chargeable.
Be it enacted by the Governor, Council, and Assembly, as follows :
1. The town of Bridgewater is authorized to issue and Debentures. sell, from time to time, or otherwise, as may be deemed expedient, electric light debentures, under the provisions of “The Municipal Debentures Act," bearing interest at a rate not exceeding four per cent. per annum, payable half
yearly, and redeemable at periods not exceeding thirty years from the date of issue thereof, provided that the whole amount of such debentures shall not exceed thirtyfive thousand dollars. Said debentures shall not be issued for a less sum than one hundred dollars each, and the same, when issued, shall be a charge upon all real and personal property in the said town.
Money, how applied.
2. The money derived from the sale of said electric lightdebentures, shall be used and applied in extending, improving, enlarging, or changing, with a view to greater economy and effectiveness, the electric light system and plant of the said town of Bridgewater, obtained and acquired under the powers given by chapter 93 of the Acts of 1900, entitled, “An Act to provide for supplying the town of Bridgewater with electric light and control of water for water supply," and the provisions and powers in said chapter shall apply, wherever applicable, to anything done or undertaken in pursuance of this chapter and by means. of the money so derived.
3. The Town Council shall annually set apart and deposit, under the provisions of “The Municipal Debentures. Act," such sum as may by resolution be determined by the Town Council, not, however, to be less than one per cent. of the amount borrowed under the provisions of this Act, on electric light account for a sinking fund, and shall rate and collect the same, and such account shall be called
Bridgewater Electric Lighting Sinking Fund Account, 1907.”
Money, how paid.
4. The money borrowed by virtue of this Act, shall be paid into the hands of the treasurer of the said town, and shall be paid out as the Town Council determines, for the purposes in this Act mentioned.
5. The provisions of “The Municipal Debentures Act," shall apply to the loan authorized by this Act, in so far as the same are not inconsistent therewith.
How charge. able,
6. Such debentures, when issued, shall form a lien and be a charge upon all the assessa ble property, and all the revenues of the said town of Bridgewater.
How rated and collectod,
7. The Town Council shall in each year while said debentures are outstanding, have the power to include in the estimates for the year a sum of money sufficient to pay the interest on such debentures for the current year, and such.
sum shall be rated and collected as part of the annual or general assessment.
8. This Act shall not take effect until the same is When Act shall adopted by a meeting of the ratepayers of the town, duly convened in accordance with the provisions of sections 143 and 144 of “ The Towns' Incorporation Act." And it shall be lawful for the said meeting to direct the Town Council to borrow the whole, or from time to time, any part of the sum mentioned in section one.
9. A certificate, under the hand of the Mayor and Town Evidence of Clerk, and under the corporate seal of the town, of a reso
adoption of Acto lution passed under the next preceding section, shall be conclusive evidence of the adoption of the Act, and of the passing of the resolution provided for in said section.
An Act to change the name of a Settlement in the County
(Passed the 28th day of March, A. D., 1907.)
Be it enacted by the Governor, Council, and Assembly, as follows:
1. The settlement heretofore called “Indian Point,” about Name changed. five miles east of Mahone, in the county of Lunenburg,
hereafter be designated by the name of “Pleasant Point.”