Bill 54 (Legislature 7, Session 2)

L7 S2 8793

Alberta — Bills

Bill No. 54 of 1932. A BILL TO AUTHORIZE THE GUARANTEE BY THE PROVINCE OF BORROWINGS BY MUNICIPAL DIS TRICTS FOR EDUCATIONAL NEEDS AND BY SCHOOL DISTRICTS. NOTE.

This Bill provides for the guarantee by the Province of borrowings by municipal districts for school purposes in the year 1931 amounting in the aggregate to $39,670, and by school districts in the year 1931 amounting in the aggre gate to $6,687.80, and borrowings by municipal districts, pending the collection of current taxes, for the purpose of meeting the requisitions of school districts essential for the continued operation of schools made at "any time before the first of January, 1933, and sums borrowed by school dis tricts within improvement districts, pending the collection of current taxes, which are essential for the continued oper ation of school districts within the said period, such borrow ings being limited tq an aggregate amount of $159,000.

R. ANDREW SMITH, Legislative Counsel. (This note does not form any part of the Bill and is offer-ed merely as a partial explanation of some of its provisions.)

BILL No. 54 of 1932.

An Act to authorize the Guarantee by the Province of Borrowings by Municipal Districts for Educational Needs and by School Districts. (Assented to ,1932.)

WHEREAS in the year 1931 certain municipal districts have been unable to borrow, pending the collection of current taxes, for the purpose of supplying school districts with the money requisitioned by such districts for the con tinued operation of such districts unless the repayment thereof was guaranteed by the Government of the Province; and

Whereas in the year 1931 certain school districts were unable to borrow, pending the collection of current taxes, the money required by such districts for the continued operation of such schools unless the repayment of such borrowings was guaranteed by the Government of the Province; and

Whereas the Government has agreed with various chart ered banks to guarantee the borrowings above mentioned by municipal districts amounting to the aggregate sum of $39,670, and by school districts amounting to the aggregate sum of $6,687.80; and

Whereas the presently prevailing conditions are such that during the year 1932 further guarantees of similar borrow ings may be necessary, pending the collection of current taxes, to provide the money necessary for the continued operation of schools;

Now therefore His Majesty, by and with the advice and consent of the Legislativ~ Assembly of the Province of Al berta, enacts as follows: 1. The Lieutenant Governor iIi Council is hereby em powered to authorize the Provincial Treasurer to guarantee on behalf of the Province the repayment of- (

a) borrowings by municipal districts for school pur poses in the year 1931 to the amount of $39,670 in accordance with the said recited agreement; (

b) borrowings by school districts in the year 1931 to the amount of $6,687.80 in accordance with the said recited agreement; (

c) borrowings by municipal districts, pending the col lection of current taxes, for the purpose of supply ing school districts with the money requisitioned

2 by school districts and essential for the continued operation of schools made at any time hereafter and before the first day of January, 1933, and sums borrowed by school districts within improvement districts, pending the collection of current taxes, which are essential for the continued operation of such school districts, made at any time hereafter and before the first day of January, 1933, to an aggregate amount not in excess of $150,000.

SECOND SESSION SEVENTH LEGISLATURE 22 GEORGE V 1932 BILL

An Act to authorize the Guarantee by the Province of Borrowings by Municipal Districts for Educational Needs and by School Districts. Received and read the First time .................... . Second time ................... . Third time .................... . RON. MR. REID EDMONTON: W. D. McLEAN, KING'S PRINTER 1932 Title: 1932 (7th, 2nd) Bill 54,

An Act to authorize the Guarantee by the Province of Borrowings by Municipal Districts for Educational Needs and by School Districts

Document details

Collection	Alberta — Bills
Citation	L7 S2 8793
Type	bill
Volume / chapter	L7 S2 8793
Language	en
Format	json
Source	PROVINCIAL
Identifier	0a9885d2b7f223e17643455584b13104316792e5

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