Bill 47 (Legislature 14, Session 5)

L14 S5 1784

Alberta — Bills

No. 47 5th Session, 14th Legislature, Alberta 11 Elizabeth II BILL 47 A Bill to amend The A]!berta Municipal Financing CoI1fOration Act HON. MR. HINMAN Printed by L. S. WALL, Printer to the Queen's Most Excellent Majesty. Edmonton, Alberta, 1963

Explanatory Note 2. ISection 13, subsection ('1) provides for a board of directors of 7 members for the corporation. Four members constitute a quorum. The amendment is intended to remove any doubt as to the power of the remaining members to act after vacancies occur 'and before new members are appointed or elected. 3. The maximum amount that the corporation may borrow is increased from ,300 to 325 million dollars.

BILL No. 47 of 1963

An Act to amend The Alberta Municipal Financing ,Covporation Act (Assented to , 1963) HER MAJESTY, by and with the ,advice and consent of the Legislative Assembly of the Province of Allberta, enacts as follows: 1. The Alberta Municipal Financing Corporation Act, heing

chapter 3 of the Statutes of Alberta, 1956, is hereby amended.

Section 13 is amended iby adding at the end thereof the following subsection:

(4) Where there is a vacancy on the Board the remaining directors may exercise all the powers of the Board so long as a quorum of the Board remains in office.

Section 31, subsection (1) is amended by adding im mediately after the words "three hundred" the words "and twenty-five" . 4. 'This Act comes into force on the day upon which it is assented to.

No. 47 FIFTH SE:s.SION FOURTEEN'TH LEGISLATURE 11 ELIZABETH II 1963 BILL

An Act to amend The A1berta Municipal Financing Corporation Act Received and read the First time ......................................... . Second time ..................................... . Third time ....................................... . HON. MR. HINMAN Title: 1963 (14th, 5th) Bill 47,

An Act to amend The Alberta Municipal Financing Corporation Act

Document details

Collection	Alberta — Bills
Citation	L14 S5 1784
Type	bill
Volume / chapter	L14 S5 1784
Language	en
Format	json
Source	PROVINCIAL
Identifier	2f27b95b851bc8739cb5497f23c3355ccd76d01e

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