Bill 20 (Legislature 3, Session 2)

L3 S2 9892

Alberta — Bills

BILL No. 20 of 1914.

An Act to incorporate Robertson Presbyterian Church, Edmonton. (Assented to , 1914.)

WHEREAS the persons hereinafter named, together

Preamble with the other members of Robertson Presbyterian Church, have existed for some time as a congregation under the name of "Robertson Presbyterian Church, Edmonton," having for its object the promotion and advancement of the cause of Christian religion in con formity with the doctrine and rules of the Presbyterian Church in Canada and to aid in any benevolent, charitable and philanthropic enterprise by means of educational, missionary or other agencies, instrumentalitie,s and methods available for and tending to such ends and aims; and w,hereas the aforesaid persons have by their petition pr3:yed to be incorporated for ,the better attainment of t,heir object and it i.s expedient to grant their petition; Therefore His Majesty, by and' with the advj,.~e and consent of the Legislative Assembly of the Provinpe of Alberta, enacts as follows: 1.

That Archibald Young Blain, John Ashton Jaffary, Incorporators Dr. Robert Bruce Wells and John Robert Molntosh, together with all other persons who have heretofore rbepome and are members of the said congr~gation known as "Robertson Presbyterian Church, Edmonton," and su.ch other persons as may hereafter' be received as members of the said church according to the rules relating thereto, shall be' and are hereby constituted a body politic and corporate under the name of "Robertson Presbyterian Name Church, Edmonton." 2.

The said corporation shall have perpetual succession ~~!?e~~ate and a common seal, with power to alter and renew the same when and so often as they shall think proper, and the said corporation, may, under the same name, contract or be contracted with, sue and be sued, implead and be impleaded with, answer and defend in all courts and places whatsoever in this province. 3 The said corporation may receive acquire and hold Dealing with • , '. property, real by any description of title, lands and tenements, Immovable or personal and movable property, mortgages, promissory notes or other securities for money, for the sole use and benefit of said church corporation and for religious and benevolent purposes in the Province of Alberta affiliated thereto or otherwise under the supervision and control thereof, and may from time to time sell, alienate, mortgage and hypothecate any such property and apply the proceeds thereof in furtherance of the purposes for which it is hereby authorized to acquire the same. 4.

The corporation shall in addition to the powers con- Additional . b h t d' t' f h' A powers as ferred upon It y t e nex prece mg sec IOn 0 t IS ct, to lands

2 and subject to the provisions thereof, have power to sell, convey, exchange and alienate, mortgage, lease ~r demise any lands, tenements and hereditaments held by the said corporation whether simply by w.ay of investment for the uses and purposes of the sai,d church corporation or not, and the corporation may also from time to time invest Investments all or any of its funds and moneys and all or any funds and personal property which may be vested in or acquired by the corporation for benevolent, ecclesiastical or educa- tional purposes aforesaid, in and upon any mortgage security of lands, tenements and hereditaments and in other securities in any part of Alberta, and for the purposes of such investment may take, receive and accept a mortgage or mortgages or any assignment or assignments thereof, whether such mortgage or assignment be made and executed db ectly to it in its own proper name, or to some ot.her corporation or body politic and corporate, or to some company or person or persons in trust Tor it, and shall ~~~I~:;:;:nts have and enjoy the same and as large, full and ample powers and rights of sale and foreclosure action and suit upon and for the purposes of enforcing the covenants, stipulations, conditions and agreements and all matters and things contained in such mortgages or any of tpem, and in as ample a manner as if it were a private person, able and capable in law; and further Illay sell, grant, assign, and transfer such mortgages or any of them to any person, company or body capable of receiving any assignment thereof, and may release and discharge such mortgages or any of them either wholly or partly. 5.

The said corporation may from time to time borrow ~~!re~~'ing money not to exceed i,n the whole the sum of eighty thousand dollars at such rate of interest and upon such terms as it may deem proper and may for such purposes, make, execute or issue any promissory notes, mortgages, bonds or debentures, stock or other instruments under the seal of the said corporation which bonds or debentures or stock shall operate subject to any mortgage or mortgages existing against any of the property of the said ch,urch at the date of the coming into force of this Act 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 any such interest in ,any policy or pol~cies of insurance against loss or damage by fire, effected upon the buildings owned by the ,corporation. H. All deeds, bonds and debentures executed by the Execution . h 11 b d·· h of bonds and said corporatIOn s a e entere Into In t e cor;porate debentures name and be sealed with the common Stial of the said corporation a.nd be subscribed by the chairman and secretary or treasurer of the board of m,anagement, for the time being. 7. (

a) Each su~h bond or debenture. shall be ;numbered ~:':d~n!t~: and be of the denomination o~e 'nnndrea, two~nundred . or three hundred dollars; sha I be payable in a period not less than five years and not exceeding twenty years from its date with interest not exceeding eight per cent. per annum payable yearly;

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b) Shall specify on its face a bank in Edmonton at Interest which the principal and interest shall be payable; (

c) Shall be made payable to the bearer thereof subject to the provisions of this Act. 8. Bonds and debentu\es shall be of the form to be ~g~:rss ~~d adopted or made by the. said corporation from time to debentures time. 9.

The said corporfl,tion shall not at anyone .time issue, !~~r::~:te or have outstanding and unpaid bonds or debenturesissuabl~ amounting in the aggregate to a sum exceeding ~ thousand dollars for principal; provided, however, that nothing herein shall prejudice or· effect bona .fide holder or holders of bonds or debentures that may have been issued by the corporation in violation of this section, but such bonds or debentures shall be valid in the ha.nds of ~:bili~;lof the holder for value and the chairman and secretary chairman and , .. secretary or or treasurer of the board of management Issumg bonds treasurer of d b . f hi· d board of or e entures In excess ate ast mentione amount, management shall be personally liable to the holder and holders· of such bonds or debentures in addition to the security that the last mentioned holder or holders may have otherwise under the provisions of this Act. 10.

If the interest or the principal money of any ·of said bonds or debentures or any part thereof, respectively, should not be paid on demand thereof, within business hours at the bank at which the same is made payable, such interest or principal, or any part thereof, respectively, so demanded and overdue, shall bear interest, after such demand, at the rate borne by such bond or debenture until paid. (

a) The holders of bonds or debentures shall upon defaul~ of Phm~t~? the corporation have the same remedIes ~ ~ e ~ I as a mortgagee or encumbrancer under the provisions of The Land Titles Act. 12. The said corporation shall enjoy all the rights, privileges and immunities and shall exercise all the powers now conferred or which may hereafter be conferred by the laws of the Province of Alberta, upon corporation of a similar kind and nature. 13.

The said corporation shall have power to make and adopt such rules and by-laws as may be deemed necessary for the regulation and governance of the affairs of the corporation in so far as the said rules and by-laws ~ not repugnant to the Statutes of the Dominion of -Canada or of the Province of Alberta or of this Act, and shall have like power to amend, alter or repeal the samp.

No. 20 SECOND SESSION THIRD IJEGISLATURE 5 GEORGE V 1914 BILL

An Act to incorporate Robertson Presbyterian Church, Edmonton. Recei ved and read the First time ................. . Second time .... Third time .. MR. SMITH. EDMONTON: J. w. JEFFERY, Government Printer A.D. 1914 Title: 1914 (3rd, 2nd) Bill 20,

An Act to incorporate Robertson Presbyterian Church, Edmonton

Document details

Collection	Alberta — Bills
Citation	L3 S2 9892
Type	bill
Volume / chapter	L3 S2 9892
Language	en
Format	json
Source	PROVINCIAL
Identifier	a030cbddbe00019d27b0cfa947ecb3fae97677fa

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