Sinking fund.

Town meeting.

Evidence of adoption of act.

Debentures' act to apply.

defficiency, or debentures issued under the authority of this act, are not paid upon demand, at or after maturity, a judge of the Supreme Court may amerce the town for the amount due thereon.

3: In order to provide a sinking fund for the payment 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 said town, subject to assessment, such sum as may by resolution be determined by the council, not however, to be less than two per cent. of the amount borrowed under the provisions of this act, and such sum shall be rated and collected in the same manner and with the same remedies as other rates and taxes in said town are rated and collected.

4. This Act shall not take effect until the same is adopted by the ratepayers of the said Town of Yarmouth, by resolution passed at a meeting duly convened in accordance with the provisions of sections 143 and 144 of "The Towns' Incorporation Act."

5. A certificate, under the hand of the mayor and town clerk, and under the corporate seal of the said Town of Yarmouth, of a resolution passed under the next preceding section 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.

6. The provisions of "The Municipal Debentures' Act, 1902," and amendments thereto, shall apply to this act in so far as the same are consistent herewith.

CHAPTER 119.

An Act Relating to the Town of Yarmouth and The
New Burrell-Johnson Iron Company, Limited.

(Passed the 23rd day of April, A. D. 1909..)

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

exempt from

1. The Town of Yarmouth is hereby authorized Power to and empowered to exempt from assessment and taxation, etc. taxation, for a period not exceeding twenty years from the coming into force of this act, the lands, buildings, plant, stock-in-trade and other real and personal property, now owned and hereafter to be acquired, of The New Burrell-Johnson Iron Company, Limited. Such exemption, however, shall not extend to the property of the company not actually in use for the purposes of the business of the company, nor to property of the company in actual use for the purposes of the business of the company of an assessable value of $20,000 and under, and such exemption shall be for such time, not exceeding such period of twenty years, and upon such conditions and with such reservations and restrictions as the town council of the said town shall by resolution determine.

supply.

2. The Town of Yarmouth is also hereby authorized Free, water and empowered, for a period not exceeding twenty years from the coming into force of this act, from the water supply of the town, to supply water free to the said The New Burrell-Johnson Iron Company, Limited. Such free water supply, however, shall only be for such purposes and for such times, not exceeding such period of twenty years, and upon such conditions and with such reservations and restrictions as the town council of the said town shall by resolution determine.

3.

Public Lane, may be sold

The Town of Yarmouth is also authorized and empowered to declare to be closed, and to grant and or leased.

Town meeting.

convey in fee simple or otherwise, or to lease and demise to the said The New Burrell-Johnson Iron Company, Limited, its successors and assigns, that part of "Public Lane" and Public Landing, extending from the western side of Water Street to the waters of Yarmouth Harbor, and known as the Public Landing, and heretofore leased to and occupied by the said The New Burrell-Johnson Iron Company, Limited. Such conveyance or lease to be made for and upon such consideration, or without consideration, times, terms, rent, or without rent, and upon such conditions, and with such reservations and restrictions as the town council of the said town shall by resolution determine.

4. This act shall not take effect until the same is adopted by the ratepayers of the said Town of Yarmouth, by resolution, passed at a meeting duly convened in accordance with the provisions of sections. 143 and 144 of "The Towns' Incorporation Act."

PRIVATE ACTS.