known as the Old Landing, which is described as follows: commencing at the north-east corner of an old cellar wall formerly owned by Payzant & Cox, situate on the south side of Canning Road, running southerly by said stone wall to the channel of the river; thence east by the channel of the river till it comes to a parallel line with the west side of the said E. Bigelow's wharf; thence by the river and said wharf northerly till it strikes the south side of the said road; thence by the south side of said road to the place of beginning, excepting, however, that portion of the said lands on which the Sebastopol building, so called, stood, and reserving a road for public travel on the south side of the site of the said Sebastopol building, and adjoining the same from the east end thereof twenty-one feet wide, and running westerly to the south-east corner of the store now standing on the said old cellar wall and reserving thereout also the slip now used between the said Old Landing and the said E. Bigelow wharf for all purposes for which the same is now used by any person or persons whatsoever; And whereas, the said committee after due inquiry, sold the said lot of land to the R. W. Kinsman Company, limited, for the sum of three hundred dollars, and the said company has paid over to the said municipality the said sum of money for the said lot of land; And whereas, the said municipal council, at its January session for the year 1901, did ratify the said sale and pass a resolution asking for legislation to enable the municipal council of the said county to convey by deed the said lot of land to the purchaser of the same, the said R. W. Kinsman Company, limited; Be it therefore enacted by the Governor, Council, and Assembly, as follows: cil authorized to 1. The Municipal Council of the Municipality of Kings Municipal councounty are authorized to convey to the R. W. Kinsman convey ertain Company, limited, the said lot of land by deed, which shall lands be executed by the warden of said municipality in the name and under the seal of the said municipality. convey. 2. The said deed so executed shall convey to the said Deed, when purchaser, the said The R. W. Kinsman Company, limited, executed, what to all the property, right and title of the said municipality in the said lot of land so conveyed, and shall vest the title to. the said lands, excepting the said reservation, in the said purchaser. Preamble. Town council authorized to borrow money. Whereas, the following resolution was passed at a meeting of the ratepayers of the town of Kentville held on the 4th day of March, 1898; Resolved, "That the town of Kentville do grant a bɔnus of not exceeding $6000 to the Dominion Atlantic Railway Company, limited, towards the erection in the town of Kentville of a new railway station, with suitable accommodation therein for the headquarters staff or for addition to workshops, or otherwise, on condition :-First, that the said bonus shall only be payable when such buildings are completed to the satisfaction of the mayor and town council; and second, that the bonus shall be repaid by the said railway Company or assigns to the said town in the event of the company deciding at any time thereafter to remove their headquarters and staff, or their workshops and employees, or any or either of them, from the said town, and the mayor and town council are authorized and instructed to endeavour to procure the necessary legislation to give effect to the resolution"; Be it therefore enacted by the Governor, Council, and Assembly, as follows: 1. The town council of the town of Kentville is hereby authorized and empowered to borrow a sum not exceeding six thousand dollars, for the purpose of granting a bonus to the Dominion Atlantic Railway Company, limited, towards the erection in the said town of a new railway station, with suitable accommodation therein for the headquarters staff, or for additions to workshops or otherwise, on the conditions mentioned in the preamble to this Act, and to issue debentures for the same as hereinafter directed. Νο payers. money shall be borrowed under the provisions of this Act Meeting of rateuntil a meeting of the ratepayers of the town has been called under the provisions of sections 143 and 144 of "The Towns' Incorporation Act," chapter 71, Revised Statutes, 1900, and the said meeting has approved and ratified by a majority vote the borrowing of the amount proposed by this Act. form of, etc. 2. The said debentures shall be issued under the hand Debentures, of the mayor and the seal of the town, and countersigned by the town clerk, and shall be in the form in the schedule to this Act. vision respecting debentures. 3. The said debentures shall be issued for the sum of Further proone hundred dollars each, or some multiple thereof, and shall bear interest not exceeding the rate of five per centum per annum, and shall be redeemable at a period to be expressed in the said debentures, not exceeding ten years from the date of their issue. 4. The said debentures shall be payable to the respective holders thereof, and shall when issued be a charge upon the real and personal property of the town liable to assessment. Debentures to be charge on real estate and personal property. payment of interest on debentures. 5. The council of the said town of Kentville shall Provision for include in the estimates of the sums required for the purposes of the said town a sum sufficient to pay the interest of the said debentures; and such sum shall be assessed annually on the property of the ratepayers of the town of Kentville liable to assessment, and shall be levied and collected in the same way, and at the same time, and with the same remedies, as the ordinary rates and taxes of the said town are levied and collected. 6. (1) The council shall annually include in the Sinking fund. estimate of the sums required for the purposes of the town such sum as the council by resolution determines, not however in any case to be less than three per cent. of the amount borrowed under this Act, and such sum shall be rated annually upon the property of the ratepayers of the town liable to taxation, and shall be levied and collected in the same manner and with the same remedies as ordinary rates and taxes. (2) Such sums, when so collected, shall be deposited in some chartered bank in the province of Nova Scotia to the credit of an account to be called "The town of Kentville Money borrowed, posed of. railway bonus sinking fund account," and shall with the interest thereon, be used for the paying off the debentures issued under this Act and for no other purpose. (3) Any member of the said town council who shall move, second, put or support by his vote any motion, resolution or proposal under or in pursuance of which any portion or the whole of the moneys borrowed under the provisions of this Act are. directed by this Act to be held as a sinking fund shall be diverted to any other object, shall forfeit his seat in the council and shall be liable to a penalty of four hundred dollars, to be collected at the instance of any ratepayer who may sue therefor, and one half of said penalty shall be for the benefit of the person so prosecuting, and the other half shall be paid into the treasury of the said town. 7. The money borrowed under this Act shall be paid how to be dis into the hands of the town clerk of the said town, and shall be by him paid out as the council of the said town determines for the several purposes hereinbefore mentioned. SCHEDULE. Under the authority of the Legislature of Nova Scotia. No..... Debenture. Transferable. [L. S.] Under the authority of the legislature of Nova Scotia, the town of Kentville, in the province of Nova Scotia, will pay the bearer hereof at the office of the town clerk in said town of Kentville, in the county of Kings, the sum of .... dollars, in .. ..years from the date hereof, and interest for the same at the rate of...... Dated at Kentville, this ... . Mayor. Town Clerk. CHAPTER 115. An Act to enable the Town of Lunenburg to borrow money for Water, Electric Light and Sewerage purposes. Be it enacted by the Governor, Council, and Assembly, as follows: authorized to 1. The town council of Lunenburg is authorized to Town council borrow on the credit of the said town, a sum not exceeding borrow money one hundred and seventy thousand dollars, to be used for poses. the following purposes: (a) A sum not exceeding one hundred and five thousand dollars for acquiring, extending and improving the water works system in the said town. (b) A sum not exceeding forty-five thousand dollars for acquiring, extending and improving the electric lighting system in the said town. (c) A sum not exceeding twenty thousand dollars to provide for the inhabitants of the said town a suitable system of sewerage. for certain pur enburg Water 2. The said town council is hereby authorized to acquire Provision for pureither by negotiation with and purchase from the Lunen-chase from Luuburg Water and Electric Light, Heating and Power Com- and Electric pany, limited, or by arbitration proceedings, under the and Power Co. Light, Heating |