Bill 94 (Legislature 8, Session 6)

L8 S6 8200

Alberta — Bills

Bill No. 94 of 1938. A BILL TO AMEND THE LOCAL AUTHORITIES' BORROWINGS GUARANTEE ACT, 1937. NOTE. This Bill extends the operation of The Local Authorities' Borrowings Guarantee Act to the 31st March, 1939, and extends its application to requisitions of school districts and school divisions. The amount of the borrowings which may be guaranteed or of the loans which may be made to any district is re stricted to the amount of the uncollected current taxes. R. ANDREW SMITH, Legislative Counsel. (This note does not form any part of the Bill and is offered merely as a partial explanation of some of its provisions.,

BILL No. 94 of 1938.

An Act to amend The Local Authorities' Borrowings Guarantee Act, 1937. (Assented to , 1938.) 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, 1937, Amendment Act, 1938." 2. The Local Authorities' Borrowings Guarantee Act, 1937, being

chapter 55 of the Statutes of Alberta, 1937, is hereby amended as to

section 2 thereof,- (

a) by striking out the words and figures "during the fiscal year ending on the thirty-first day of March, 1938," where the same occur therein and by sub stituting therefor the words and figures "during the fiscal year ending on the thirty-first day of March, 1939,"; and (

b) by striking out paragraph (

a) thereof and by sub stituting therefor the following: "(

a) to guarantee on behalf of the Province the repay ment of any loan made by any chartered bank at any time between the thirty-first day of March, 1938, and the first day of April, 1939, to any borrower which is a municipal district or an improvement district or a school district which collects its own taxes on the security of any uncollected taxes which are for the time being collectable by such borrower for all or any of the following purposes, namely: "(

i) for the purpose of meeting expenditures of a municipal district, including any sums pay able in respect of any requisitions made by the board of a school district or of a school division and any sums payable to any muni cipal hospital board or to the board of any hospital for the hospitalization of residents of the municipal district; "(ii) for the purpose of meeting expenditures of any improvement district, including any sums payable in respect of any requisitions made by the board of a school division and any sums payable to any municipal hospital board or to the board of any hospital for the hospitalization of residents of the improve ment district; and

2 "(iii) for the purpose of meeting the expenditures of a school district;"; and (

c) by striking out the words "uncollected current taxes" where the same occur in paragraph (

c) there of and by substituting therefor the words "uncol lected taxes". 3. The said Act is further amended by striking out sec tion 3 and by substituting therefor the following: "3. The amount of the borrowings of a district which may be guaranteed or loans to a district which may be made pursuant to this Act in any year, or the aggregate of all such borrowings and loans, shall not in any case exceed the amount of the taxes levied by the district in that year which are uncollected at the time of the giving of any such guar antee or the making of any such loan, as the case may be." 4. The said Act is further amtmded as to

section 4 there of,- {

a) by striking out the words and figures "held in the years 1935, 1936, 1937 and 1938" where the same occur therein and by substituting therefor the words and figures "held in the years 1935, 1936, 1937, 1938 and 1939"; (

b) by striking out the words and figures "and the first day of April, 1938, as the ,case may be" where the same occur therein and by substituting therefor the words and figures "and the first day of April, 1938, or between the thirty-first day of March, 1938, and the first day of April, 1939, as the case may be". 5. This Act shall come into force on the day upon which it is assented to.

No. 94. SIXTH SESSION EIGHTH LEGISLATURE 1 GEORGE VI 1988 BILL

An Act to amend The Local Authori ties' Borrowings Guarantee Act, 1937. Received and read the First time ........................................ . Second time .................................... .. Third time ....................................... . HON. MR. MAYNARD. EDMONTON: A. Shnitka, King's Printer 1938 Title: 1938 (8th, 6th) Bill 94,

An Act to amend The Local Authorities' Borrowings Guarantee Act, 1937

Document details

Collection	Alberta — Bills
Citation	L8 S6 8200
Type	bill
Volume / chapter	L8 S6 8200
Language	en
Format	json
Source	PROVINCIAL
Identifier	e03eda8e9dcdeca25c1eca93d4f2e976e5b2a237

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