Bill 33 (Legislature 5, Session 5)

L5 S5 9974

Alberta — Bills

A BILL RESPECTING THE LACOMBE AND NORTH WESTERN RAILWAY. NOTE. rfhis Bill provides for the advance to the Lacombe and North Western Railway of the following sums:· 1. For construction ...................... $520,000.00 2. For maintenance and operation during the year 1925 ........................ 18,000.00 Jlnd expressly confirms the advance of $5,000.00 made to the Railway in 1924 which was provided for in the estimates and the Appropriation Act, but was not supported by express legislation. WALTER S. SCOTT, Legislative Counsel. (Th'is nute does not form any pat't of the Hill cmd is offered merely (~s a partial explamation of some of its provis£ons.)

BILL No. of 1925 . .An Act respecting Lacombe and North Western Railwayt (Assented to , 192.5.) W HER~AS it is to the advantage of the Province. that the lme of the Lacombe and North Western RaIlway Company (hereinafter called "the company") should be extended from a point in the neighborhood of mile 49 in a generally northerly direction for a distance of twenty miles; And

whereas the estimated cost of such extension is the sum of five hundred and twenty thousand dollars; And

whereas the shares of the company or the greater part thereof are held by the Government; And

whereas the sum of five thousand dollars was duly provided for in the estimates and The Appropriation Act, 192L1, and was advanced to the company; and

whereas it seems desirable that express statutory confirmation of the said advance should be given; And

whereas it is estimated that it will be necessary to advance to the company a further sum of eighteen thousand dollars to defray the cost of maintenance, upkeep and equip ment of the said railway during the year 1925;

Now, therefore, His Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows: 1. The Lieutenant Governor in Council may raise by way of loan the sum of five hundred and twenty thousand dollars and lend the same to the company without any further or other appropriation than is provided by this section, for the purpose of defraying the cost of construction and completion of the said proposed extension of the railway of the com pany. 2.

The sum of seventy-five thousand dollars, part of the sRid. sum of five hundred and twenty thousand dollars, may be advanced at any time to the company for the purpose of forming a working fund to defray expenditures neces sarily made prior to the preparation of progress certificates. 3. The rest of the said sum of five hundred and twenty thousand dollars shall be paid to the company by instalments and upon progl'ess certificates signed by the Minister 01' Deputy Minister of the Department of Railways and Tele- phones. .

2 4. The Lieutenant Governor in Council may raise by way of loan the further sum of eighteen thousand dollars and may without any further or other appropriation than is contained in this

section make advances to the company up to such sum as and whenever the same may be required for the purpose of defraying the cost of maintenance, upkeep and equipment of the railway of the company in the year 1925. 5. The said advance of five thousand dollars to the com pany is hereby validated and confirmed. G. Notwithstanding any other statutory prOVISIon the company shall have power to borrow and give security for any sums lent to it under the provisions of this Act. 7.

The Lieutenant Governor in Council may advance all moneys hereinbefore provided for at such time or times and at such rate of interest, upon such security and on such other terms not inconsistent with this Act as he may determine. 8. This Act shall come into force on the day it is assented to.

No. FIFTH SESSION FIFTH LEGISLATURE 15 GEORGE V 1925 BILL

An Act respecting Lacombe and North Western Railway. Received and 'read the First time .......... , ......... . Second time .................. . Third time ................... . Ii>MONTON: ... W. JEFFE~.;(JING·S Pm~<TER ".1925 Title: 1925 (5th, 5th) Bill 33,

An Act respecting Lacombe and North Western Railway

Document details

Collection	Alberta — Bills
Citation	L5 S5 9974
Type	bill
Volume / chapter	L5 S5 9974
Language	en
Format	json
Source	PROVINCIAL
Identifier	c30738cd1692c7b2b35b8e85682ebad87523e1ab

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