A. D. 1873.

mittee and Commis

poration of the City of Victoria may from time to time select, and the proceeds of such debentures shall be paid into the said Bank and out on cheque of kept separate from any other funds of the said city, and the same Mayor and Chairshall only be paid out on the cheque of the Mayor and Chairman of man of Finance Comthe Finance Committee for the time being of the City of Victoria, sioner. and the Commissioner for the time being, as may from time to time be required for payment and discharge of the liabilities that may be incurred in carrying out the improvements contemplated by this Act, and for the payment of interest accruing due on the said debentures during the period of the erection and completion of the said water works: Provided also, that nothing herein contained shall Commissioner may prevent the Commissioner, should he deem it advantageous so to do, with debentures, at from paying the contractor or contractors, or others, in debentures, par or discount, and debentures may be either at par or at such rate of discount as the Commissioner shall in negotiated and sold. his judgment deem advisable, with the assent of the Corporation of the City of Victoria thereto, nor from selling or negotiating the same, as to them shall seem most expedient and advantageous to the interests of the City of Victoria.

pay contractors

32. It shall be lawful for the said Municipal Council, from time to Council may re-purtime, to repurchase the said debentures, to the amount of such chase debentures. moneys as the said Council may appropriate for that purpose; and also to make use of the sinking fund for the purpose of withdrawing debentures from the market by purchase; and all debentures so repurchased shall be forthwith cancelled and destroyed, and no re-issue of debentures shall be made in consequence of such purchase and destruction.

virtue hereof mort

Act.

33. The said water works to be erected and constructed under Water works and this Act, and also the land to be acquired for the purposes thereof, property acquired by and every matter and thing therewith connected, and all the revenue gaged for sums borof the Corporation, shall be and they are hereby specially charged, rowed under this pledged, mortgaged, and hypothecated for the repayment of any sum or sums which may be borrowed by the said Corporation for the purposes of this Act, as well as for the due and punctual payment of the interest thereupon; and all, each, and every of the holders of the debentures in this Act mentioned shall have a preferential pledge, mortgage, hypothecation, or privilege on the said lands, water works, and property appertaining thereto, and the revenue of the Corporation aforesaid, for securing the payment of the said debentures and the interest thereon, in addition to other remedies therefor.

34. That, after the construction of the works, all the revenues Revenue from water arising from or out of the supplying of water, or from the real and works to be general funds of the Corpopersonal property connected with the said water works, acquired by ration. the said Corporation or Commissioner under this Act, shall, after providing for the expenses attendant upon the maintenance of the

A.D. 1873.

Water works, &c., exempt from taxation.

Legal proceedings to be brought within

six months from accruing of cause of

action.

Officers of Commis

said water works, be paid over to and deposited monthly with the Clerk of the said Corporation of the City of Victoria, as herein before provided, and shall make part of the general funds of the Corporation, and may be applied accordingly.

35. The lands, buildings, machinery, reservoirs, pipes, and all other real or personal property connected with, or appertaining, or belonging to the water works shall, from henceforth, be exempt from taxation.

36. If any action or suit shall be brought against any person or persons for anything done in pursuance of this Act, the same shall be brought within six calendar months next after the act committed, or in case there shall be a continuation of damages, then within one year after the original cause of such action arising.

37. The watchman and other officers of the Water Commissioner, sioner to be officers when in discharge of their duty, shall be ex-officio possessed of all the powers and authority of officers of the peace.

of the peace.

Remuneration to
Commissioner.

Security by him.

Work to be done by contract.

Commissioner or Councillor not to have contract.

Suspending clause.

Commencement of

work.

Collection of rates.

38. The said Commissioner shall, during the construction of the said water works, and after the completion of the said works, respectively receive remuneration such as the Mayor and Council may by by-law determine.

39. The Commissioner to give security as may be required by the Mayor and Council.

40. All work under the Commissioner shall be performed by contract, except in case of emergency, where delay would be injurious to the interests of the city, or where from the nature of the work it can be more expeditiously and economically executed by the officers or servants of the Corporation.

41. No Commissioner or Councillor shall personally have or hold any contract in connection with said works, or be directly or indirectly interested in the same, or any of them.

42. This Act shall not have any force or effect until the Municipal Council of the City of Victoria shall pass a by-law authorizing the construction of the said water works, which by-law they are hereby empowered to pass.

43. The said works shall be commenced within one year from the passing of this Act.

44. The rates referred to in this Act may be levied and collected in manner prescribed by the "Municipality Act Amendment Act, 1873," but without the restrictions contained in the third, fourth, and sixth sections of the said Act.

A. D. 1873.

45. This Act may be cited for all purposes as the "Corporation of Victoria Water Works Act, 1873."

Short Title.

An Act for authorizing a guarantee of the Water Works A.D. 1874. Debentures issued by the Corporation of the City of Victoria

under the authority of the "Corporation of Victoria Water

Works Act, 1873."

[2nd March, 1874.]

WHEREAS by the "Corporation of Victoria Water Works Act, Preamble.

1873," after reciting that "grave and frequent complaints have been made from time to time by the citizens and Corporation of Victoria, against the quality and supply of water furnished to the city, and grievous and serious injury to property and to the city generally has resulted from an undue and insufficient service thereof," it is enacted (among other things)

"That the Corporation of the City of Victoria, by and through the agency of a Commissioner and his successors to be appointed, as hereinafter provided, may and shall have power to design, construct, build, purchase, improve, hold and generally maintain, manage, and conduct water works and all building matters, machinery, and appliances therewith connected or necessary thereto in the City of Victoria and parts adjacent, as hereafter provided.

"And that, for the purpose of constructing the said water works, and paying sinking fund and the interest on the said debentures and expenses attendant thereon, or for the purpose of meeting any other matter or things contemplated or allowed by this Act, the Corpora tion of the City of Victoria shall have power to issue debentures of the said Corporation of the City of Victoria, to be called water works debentures, for a sum of money not exceeding one hundred thousand dollars of lawful money of British Columbia, in such sums not less than fifty dollars, as shall to the said Corporation seem expedient, which debentures shall be made payable in manner and at the times following, that is to say: within a period of twenty-five years from the date of the respective issues thereof; and shall bear interest at a rate not exceeding nine per centum per annum, such interest to be payable half-yearly; and such debentures shall be signed by the Mayor and Clerk of the said city for the time being, and may be made payable either in sterling or in currency of this Province, Great Britain, or elsewhere, as to the Council of the Corporation of the City of Victoria shall seem expedient or necessary; and the said Council of the Corporation of the City of Victoria and their successors shall, for the purpose of providing a sinking

A.D. 1874.

fund for the payment of the said debentures as aforesaid, and the interest on same semi-annually, raise annually such sum as may be necessary to pay the interest upon and provide a sinking fund to meet the whole of such debentures in full as the same shall become due respectively; and shall order a rate for that purpose on all real estate and improvements thereon, to be settled, imposed, and levied in each and every year to pay said principal and interest on such debentures, without any confirmation or assent to any by-law or bylaws in that behalf, and it shall not be necessary to obtain the consent or approval of the Lieutenant-Governor of this Province in Council before contracting the said debt; but the said debentures to be issued hereunder shall be valid, and effectual, and binding, to all intents and purposes on the Corporation of the City of Victoria, notwithstanding any of the provisions of the "Municipality Act, 1872," or amendments thereto of the "Municipality Act Amendment Act 1873," or any other Act or Acts, Ordinance or Ordinances, in that behalf have not been complied with; and such rate shall be deemed to be due on such days as the Council shall in that behalf prescribe. For the purpose of determining the amount to be set apart in each year for the purpose of a sinking fund, the rate of interest on money shall be deemed to be six per cent. per annum."

And whereas the said Corporation have issued such debentures as aforesaid, but have not yet sold the same:

And whereas it would greatly facilitate the construction of the Water Works aforesaid, and conduce to the welfare of the said city, if payment of the said debentures were guaranteed under the authority of the Legislative Assembly and the Government of the Province:

And whereas the Corporation of the City of Victoria have applied to the Government of the Province to guarantee the payment of the principal and interest of debentures issued, or to be issued, by the Council of the said city, under the "Corporation of Victoria Water Works Act, 1873," to an amount not exceeding the sum of one hundred thousand dollars in the aggregate on the face of such debentures, for the purpose of assisting such Council in the issue and negotiation of such debentures at a moderate rate of interest and discount:

And whereas it is expedient that such application should be acceded to by the Government of British Columbia, on condition that the Government shall be from time to time fully indemnified against the expenditure (if any) which may be incurred by the Government by reason of such guarantee, in manner herein described:

Therefore, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:

A.D. 1874.

1. The payment of the principal of the debentures issued or to Payment of certain be issued by the Corporation of the City of Victoria, under the Debentures of City of Victoria guaran"Corporation of Victoria Water Works Act, 1873," to an amount teed. not exceeding one hundred thousand dollars, together with the interest thereon, shall, from time to time as the same shall fall due, be secured and form a lien or charge on the general revenue of the Province of British Columbia; and the Lieutenant-Governor in Council shall issue his warrant to the Minister of Finance and Agriculture, directing him to pay the amount due for the time being out of any moneys in the Treasury.

ment.

2. Notwithstanding anything contained in any Municipal or Recovery of advanother Act, or municipal by-law, now or hereafter in force, whenever ces made by Governany sum has been paid or advanced by the Lieutenant-Governor in Council under the authority of this Act, the Minister of Finance and Agriculture shall forthwith certify the same to the LieutenantGovernor in Council, who shall immediately issue his warrant to the Sheriff for Vancouver Island, or other officer acting in that capacity in the City of Victoria, directing him to levy a rate on the assessable property of the municipality, sufficient to repay the amount advanced, together with interest thereon at the rate of seven per cent. per annum, and the costs of collection and the proceedings thereon; and the Sheriff's powers shall be as nearly as may be those contained in the "Municipality Act Amendment Act, 1873."

3. The Sheriff shall obey the said warrant, and levy the sums Duty of Sheriff. therein mentioned in like manner and within the same period as he would levy the same if it had been recovered against the munici pality under a judgment of the proper court of law, and a writ of execution had issued thereupon directed to him and commanding him to levy the same by rate, and shall pay over the net proceeds into the Treasury; and the costs allowed to the said Sheriff for executing the said warrant shall be the same as those to which he would be entitled for executing a writ of execution for a like sum.

4. If the net sum raised by any such rate be greater than that Overplus. required, the officer in charge of the Treasury shall hand over the overplus to the Corporation of the City of Victoria, to be held and accounted for by them as part, of the revenues of the Corporation.

5. If the net sum raised be insufficient for the purpose, a new assessment shall be made, and the rate collected in the same manner as herein before provided.

New assessment.