4. Where any money is borrowed or raised by the Sinking fund. issue and sale of debentures of the Town of North Sydney under this Act, and the Municipal Debentures Act, 1914, as amended, the Council of the said town shall provide for a sinking fund with respect to such debentures. The amount to be paid annually into the sinking fund shall not be less than two per centum of the aggregate amount of said debentures, and shall not be more than the Council deems sufficient to provide for the payment of the debentures when the same are payable, and the first payment into such sinking fund shall be made within one year from the date of the debentures. 5. Every sum required for (a) interest on such debentures; (b) the sinking fund so provided, shall be held to be sums required for the ordinary lawful purposes of the Town of North Sydney, and shall be raised, levied and collected in the same manner and in all respects as other sums required for the ordinary lawful purposes of the said town are raised, levied and collected. Any contract or agreement authorized by this Act may be entered into by resolution of the respective town councils, for said towns, and may be executed by the Mayors and Town Clerks of said towns under the corporate seals, and on behalf of said Company by its proper officers for that purpose and under its corporate seal. Interest and Sinking fund lawful charges. 6. This Act shall not take effect until the same Ratepayers approval necessis adopted by a meeting of the ratepayers of the ary. Town of North Sydney duly convened in accordance with the provisions of Sections 143 and 144 of the Town's Incorporation Act, as amended. It shall be lawful for such meeting to authorize the Town Council to borrow the whole or from time to time any part of said sum of thirty-five thousand dollars. CHAPTER 92. Authority to borrow $76,000. Sinking fund. Interest and Sinking fund lawful charges. An Act to Enable the Town of North Sydney to (Passed the 17th day of April, A. D., 1923). Be it enacted by the Governor, Council, and Assembly, as follows: 1. The Town of North Sydney is authorized to borrow or raise by way of loan on the credit of the town a sum of money not exceeding seventy-six thousand dollars for the following purposes: (a) a sum not exceeding forty-five thousand dollars for the payment of indebtedness on current account; (b) a sum not exceeding thirty-one thousand dollars for the payment of debentures of the town maturing in the year 1923. 2. Where any money is raised or borrowed by the issue and sale of debentures of the town under this Act and the Municipal Debentures Act, 1914, as amended, the Council of the town shall provide for a sinking fund with respect to such debentures. The amount to be paid annually into the sinking fund shall not be less than three per centum of the aggregate amount of said debentures, and shall not be more than the Council deems sufficient to provide for the payment of the debentures when the same are payable, and the first payment into such sinking fund shall be made within one year from the date of the debentures. 3. Every sum required for— (a) interest on such debentures; (b) the sinking fund so provided, shall be held to be sums required for the ordinary lawful purposes of the town, and shall be raised, levied and collected in the same manner and in all respects as other sums required for the ordinary lawful purposes of the town are raised, levied, and collected. 4. This Act shall not take effect until the same is Ratepayers' approval required. adopted by a meeting of the ratepayers of the Town of North Sydney convened in accordance with the provisions of Sections 143 and 144 of the Towns' Incorporation Act, as amended. It shall be lawful for such meeting to authorize the borrowing of the whole or any part of the moneys authorized by this Act to be borrowed. 5. A certificate under the hand of the Mayor and Certificate. Town Clerk and under the corporate seal of the town, of a resolution passed under the next preceding section of this Act, shall be conclusive evidence of the adoption of this Act, and of the passing of the resolution provided for in said section. CHAPTER 93. An Act to Amend Chapter 99, Acts of 1909, entitled, "An Act Relating to the Town of North Sydney, as amended." (Passed the 23rd day of April, A. D., 1923). Be it enacted by the Governor, Council, and Assembly, as follows: amended. 1. Section 2 of Chapter 99 of the Acts of 1909 Section 2 is amended by striking out the words and figures, "Section 128 of" in the eighth line of said section. amended. 2. Section 3 of said Chapter 99 of the Acts of Section 3 1909 is amended by striking out the words "Except the next preceding section "in the first line of said section, and substituting therefor the words, “Except as in the next preceding section mentioned." Section 4 amended. Section 5 amended. Section 6 amended. Sub-section added to Section 6. Lists and pro ceedings not inof omissions. 3. Section 4 of the said Chapter 99 of the Acts of 1909 is amended by inserting after the word "Act" in the first line of said section the words: "For rates and taxes levied by law on assessment on real estate." 4. Section 5 of said Chapter 99 of the Acts of 1909 is amended by adding thereto the following words:-"for which a lien on real estate exists under this Act." 5. Section 6 of said Chapter 99 of the Acts of 1909 is amended by inserting after the word "taxes" in the eighth line of said section, the words:-"or water rates, or sewer frontage tax or sewerage rates." 6. Said Section 6 of said Chapter 99 of the Acts of 1909 is further amended by adding to said section the following as Sub-section (2): (2) No list mentioned in this section, and no valid by reason proceedings taken under this Act, shall be deemed invalid by reason of the omission from such list of any names of persons, or any amount or amounts due, or of any lands liable to be sold, or by reason of any error or omission of any kind in such list, except in so far as regards any person with respect to whom, or to whose indebtedness or property, such error or omission occurred; and other persons shall not be thereby affected; but their real estate may be sold, notwithstanding such error or omission. Sub-section added to Section 2. Balance from sale may be ap other lands. 7. Section 20 of said Chapter 99 of the Acts of 1909 is amended by adding to said section the following as Sub-section 2. (2) In case the Town Clerk receives from the plied to lien on sale of any land he sells enough to pay and discharge the lien in respect of such land, and also enough to pay and discharge in whole or in part the lien on other land owned by, or assessed to, the same person or persons, he may appropriate the money received to the discharge of any such other lien in whole or in part, as the case may be; and the warrant mentioned in Section 6 of this Act shall in such case be deemed to have been lawfully varied accordingly. 'Ch. 77, Acts 8. (1) Section 10, Sub-section (1) of Chapter 77, Sec. 10, s. 8. (1); Acts of 1922, is hereby amended by striking out the 1922 amended. figures "1922" in the last line of said sub-section, and substituting therefor the figures "1923." (2) This section shall not affect any pending liti- Pending litigagation. tion unaffected. Receipts from sewerage rates ed for general 9. Receipts from sewer frontage tax or sewerage rates in the Town of North Sydney which were by etc., may be usstatute directed to be paid into a sinking fund for the purposes. payment of debentures issued to borrow money for sewerage, but not paid to the Town until after such debentures were redeemed, may be used for general lawful town purposes. CHAPTER 94. An Act to Authorize the Town of Parrsboro to Borrow (Passed the 17th day of April, A. D., 1923). Be it enacted by the Governor, Council, and Assembly, as follows: 1. The Town of Parrsboro is authorized to borrow Authority to or raise by way of loan on the credit of the town the borrow $12,000. sum of twelve thousand dollars for the purpose of installing oil engines at the Town of Parrsboro Electric Light Plant. 2. Where any money is borrowed or raised by the Sinking fund. issue and sale of debentures of the Town of Parrsboro under this Act, and the Municipal Debentures Act, 1914, as amended, the Council of the Town of Parrsboro shall provide for a sinking fund with respect to such debentures, provided that the amount to be paid annually into the sinking fund shall not be less |