Bill 36 (Legislature 7, Session 5)

L7 S5 8524

Alberta — Bills

Bill No. 36 of 1935. A BILL TO AMEND THE LOCAL AUTHORITIES' BORROWINGS GUARANTEE ACT. NOTE. By this Bill the operation of The Local Authorities' Bor rowings Guarantee Act (1934, ch. 56) is continued until the first day of April, 1936. Provision is made for the guarantee by the Province of borrowings by cities and towns made at any time between the thirty-first day of March, 1935, and the first day of April, 1936. An Order in Council authorizing the guarantee by the Province of a borrowing of $250,000.00 by the City of Cal gary is validated. R.

ANDREW SMITH, Legislative C01lnsel. (This note does not form any part of the Bill and is offered merely as (L partial eX1Jlanat1'on of some of its provisions.)

BILL No. 36 of 1935.

An Act to amend The Local Authorities' Borrowings Guarantee Act. ( .. 1ssented to , 1935.) HIS 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 Local Authorities' Bor rowings Guarantee Act Amendment Act, 1935." 2'. The Local Authorities' Borrowings Guarantee Ad, being

chapter 56 of the Statutes of Alberta, 1934, is hereby amended as to

section 2 thereof- (

a) by striking out the words and figures "years 1934 and 1935," where the same occur therein, and by substituting therefor the words and figures "years 1934, 1935 and 1936"; (

b) by striking out the words and figures "first day of April, 1935," where the same occur therein, and by substituting therefor the words and figures "first day of April, 1936." 3. The said Act is further amended by inserting therein, immediately after

section 3 thereof, the following new section: "3a. The Lieutenant Governor in Council may from time to time during the fiscal years ending on the thirty-first day of March in each of the years 1935 and 1936 authorize the Provincial Treasurer to guarantee on behalf of the Province the repayment of any borrowing made at any time between the thirty-first day of March, 1935, and the first day of April, 1936, by any city: or town on such security and subject to such conditions and for such purposes as to the Lieutenant Governor in Council may seem proper." 4. The said Act is further amended as to

section 4 thereof- (

a) by striking out the words and figures "in the years 1935 and 1936," where the same occur therein, and by substituting therefor the words and figures "in the years 1935, 1936 and 1937";

2 (

b) by striking out the words and figures "April, 1935, as the case may be," where the same occur therein, and by substituting therefor the words and figures "April, 1935, or between the thirty-first day of March, 1935, and the first day of April, 1936, as the case may be." 5. The said Act is further amended by inserting therein, immediately after

section 6 thereof the following new section: "Ga.

A certain Order in Council, passed on the nineteenth day of November, 1934, and numbered O.C. 1017-34, where by the Provincial Treasurer was authorized on behalf of the Province to guarantee the due repayment by the City of Calgary to the Bank of Montreal of the sum of two hun dred and fifty thousand dollars ($250,000.00) and interest as therein mentioned, is hereby ratified, validated and con firmed, and all ~cts and things heretofore done in purported compliance with the said Order in Council shall have the same force and effect as if the same had been done after the coming into force of this section." G.

This Act shall come into force on the day upon which it is assented to.

FIFTH SESSION SEVENTH LEGISLATURE 25 GEORGE V 1935 BILL

An Act to amend The Local Authori ties' Borrowings Guarantee Act. Recei ved and read the First time ................... . Second time. . . . . . . . . . . . . . .... Third time ................. " HON. MR. ALLEN. EDMONTON: W. D. McLEAN, KING'S PRINTER 1935 Title:1935 (7th, 5th) Bill 36,

An Act to amend The Local Authorities' Borrowings Guarantee Act

Document details

Collection	Alberta — Bills
Citation	L7 S5 8524
Type	bill
Volume / chapter	L7 S5 8524
Language	en
Format	json
Source	PROVINCIAL
Identifier	7eebea67c07ba213f9639fa2549fdb7f5659f8f9

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