Bill 20 (Legislature 6, Session 1)

L6 S1 9189

Alberta — Bills

BILL No. 20 of 1927.

An Act respecting the Lacombe and North Western Railway. (Assented to , 1927.)

WHEREAS by

chapter of the Statutes of Alberta, 1925. it is provided that the sum of five hundred and twenty thousand dollars should be lent to the Lacombe and North Western Railway Company for the purpose of extending its line from a point in the neighborhood of mile in a general northerly direction, for a distance of twenty miles; and

Whereas, by

chapter of the Statutes of Alberta, 1926, it is provided that the sum of sixty-two thousand, four hun dred dollars should be lent fol' the purpose of extending the line of th'3 Company from a point in the neighborhood of mile 69.4 in a general northerly direction, for a distance of 2.4 miles; and

Whereas, the cost of the said extensions of lines has amounted to six hundred and ten thousand, three hundred and fourteen dollars and forty-eight cents; and

Whereas, under the provisions of The Tl'ea,:,'ury Depai't~ ment Act. a warrant has been issued for the sum of twenty seven thollsand, nine hundred and fourteen dollars and fOl'ty eight cents; and

Whereas, it is expedient that the expenditure of the last mentioned sum should be confirmed; and

Whereas, it is estimated that it will be necessary to ad vance the company a further sum of twenty-seven thousand and eighty-five dollars and fifty-two cents, to complete the 'Said extensions; and

Whereas, it is estimated that it will be necessary to ad vance the company a further sum of sixty-foul' thousand, nine hundred and fifty dollars to defray the cost of mainten ance, imnrovement, upkeep and equipment of such railway . during the year one thousand nine hundred and twenty seven;

Now, therefore, His Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Al berta, enacts as follows: :1. The hereinbefore mentioned expenditure of twenty seven thousand, nine hundred and fourteen dollars and forty eight cents, is hereby authorized, validatBd and confirmed. 2 2.

The Lieutenant Governor in Council may raise by way of loan the sum of twenty-seven thousand and eighty-five dollars and fifty-two cents; and lend the same to the com pany, 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 extensions. 3. The said sum shall be paid to the company by instal ments and upon progress certificates, signed by the Minister or by the Deputy Minister of the Department of Railways and Telephones. 4.

The Lieutenant Governor in Council may raise by way of loan a further sum of sixty-four thousand, nine hundred and fifty dollars, and may without any further or other appropriation than is contained in this section, make ad vances to the company up to such sum as, and whenever the sum, may be required, for the purpose of defraying the cost of maintenance, improvement, upkeep and equipment of the railway of the company in the year one thousand nine hun dred and twenty-seven. 5.

Notwithstanding any other statutory provisions, the company shall have power to borrow and give security for sums lent to it under the provisions of this Act. 6. 'fhe 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 deter mine. 7. This Act shall come into force on ................. . No. 20. FIRST SESSION SIXTH LEGISLATURE GEORGE V BILL

An Act respecting the Lacombe and North Western Railway. Received and read the First time .. , ................ . Second time .................. . Third time ................... . RON. MR. SMITH EDMONTON: W. D. McLEAN. ACTING KING's PRINTER A.D. 1927 Title: 1927 (6th, 1st) Bill 20,

An Act respecting the Lacombe and North Western Railway

Document details

Collection	Alberta — Bills
Citation	L6 S1 9189
Type	bill
Volume / chapter	L6 S1 9189
Language	en
Format	json
Source	PROVINCIAL
Identifier	cd4ce89c98c44684ca8656a86f6007b7dab84858

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