Bill ID 1437 (Legislature 15, Session 3)

L15 S3 1437

Alberta — Bills

No. Pro 17 3rd Session, 15th Legislature, Alberta 14 Elizabeth II BILL Pre 17 A Bill to amend The Edelweiss Club Act MR. TOMYN Printed by L. S. WALL, Printer to the Queen's Most Excellent Majesty, Edmon.ton, Alberta, 1966

Explanatory Note

Section 3 of the said Act now reads as follows: "The said corporation may from time to time borrow money not to exceed in the whole the sum of $150,000 at such rate of interest and upon such ~~rms as they may deem proper; The effect of

An Act to amend The Edelweiss Clu.b Act would be to change the figure of $150,000 to $250,000 and increase the borrowing capacity of the said corporation.

Preamble

Short title

Section 3 amended BILL No. Pro 17 of 1966

An Act to amend The Edelweiss Club Act (Assented to , 1966)

WHEREAS a petition has been presented praying for the amendment of

an Act to Incorporate The Edelweiss Club, being

chapter 74 of the Statutes of Alberta 190.6 as therein set forth, and it is expedient to grant their' praye'r: THEREFORE, Her Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. This Act may be cited as "The Edelweiss Club Act Amendment Act, 1966". 2. The Edelweiss Club Act, being

chapter 74 of the Statutes of Alberta, 190.6, is hereby amended.

Section 3 is amended by striking out the figures "$150.,- 0.00" and by substituting the figures "$250.,000", so that the

section shall now read as follows: "3.

The said corporation may from time to time borrow money not to exceed in the whole the sum of $250.,0.0.0. at such rate of interest and upon such terms as they may deem proper; and may for such purpose make, execute or issue any mortgage, bonds, debentures or other instruments under the seal of the said corporation, which bonds or debentures shall operate subject to any mortgage given in part payment of the purchase money or real property acquired for a site for the club buildings or for the erection of such buildings and appurtenances thereto, as mortgages and charges against the lands and effects of the said corporation without registration; and each holder of any of the said debentures or bonds issued under the provisions of this

section shall be deemed to be a mortgagee and encumbrancer pro rata with the other holders thereof upon any interest in any real estate held by the said corporation, and also upon ~ny such interest in any policy or policies of insurance agaInst loss or damage by fire effected upon the buildings owned by the corporation." Commence- 4 This Act comes into force on the day upon which it is ment of Act • assented to.

No. Pro 17 THIRD SESSION FIFTEENTH LEGISLATURE 14 ELIZABETH II 1966 BILL

An Act to amend The Edelweiss Club Act Received and read the First time ........................... . Second time ................... . Third time MR. TOMYN Title: 1966 (15th, 3rd) Bill Pr17,

An Act to amend The Edelweiss Club Act

Document details

Collection	Alberta — Bills
Citation	L15 S3 1437
Type	bill
Volume / chapter	L15 S3 1437
Language	en
Format	json
Source	PROVINCIAL
Identifier	5125b1b8a03d845588c82ccf35eae226b8863b60

Source file is stored in the law ingest library (json).