Bill 20 (Legislature 8, Session 2)

L8 S2 8374

Alberta — Bills

BILL No. 20 of 1936 (Second Session).

An Act respecting the Interest Payable on the Securities of Municipalities. (Assented to , 1936.) 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 Municipal Securities Interest Act." 2.

In this Act unless the context otherwise requires (a) "Municipality" means any city, town, village, muni cipal district and school district; (b) "Security" means any bond or debenture issued for the purpose of securing the repayment of any moneys borrowed by a municipality under the pro visions of any Act of the Province. 3. From and after the day upon which this Act comes into force the interest payable in respect of any security by a municipality shall not exceed three per centum per annum. 4.

Notwithstanding any of the terms of any municipal security heretofore issued the amount of interest payable thereunder shall on, from and after the first day of Septem ber, 1936, be computed at a rate not in excess of three per centum per annum. 5. No judgment shall be given in any action or other proceeding in any court on account of any interest payable in respect of any security of a municipality for an amount computed at any rate which is in excess of the rate herein before fixed as the maximum rate payable in respect of any such security. 6.

This Act shall come into force on the day upon which it is assented to. No. 20. SECOND SESSION EIGHTH LEGISLATURE EDWARD VIII BILL

An Act respecting the Interest Pay able on the Securities of Municipalities. Received and read the First time Second time Third time HON. MR. FALLOW EDMONTON: A. Shnitka. King's Printer Title: 1936 (8th, 2nd) Bill 20,

An Act respecting the Interest Payable on the Securities of Municipalities

Document details

Collection	Alberta — Bills
Citation	L8 S2 8374
Type	bill
Volume / chapter	L8 S2 8374
Language	en
Format	json
Source	PROVINCIAL
Identifier	a9816954e52adbb5faff8f869dfccbbffc0936bc

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