Bill ID 5125 (Legislature 17, Session 1)

L17 S1 5125

Alberta — Bills

1972 Bill Pro 1 First Session, 17th Legislature, 21 Elizabeth II THE LEGISLATIVE ASSEMBLY OF ALBERTA BILL Pre 1

An Act to Incorporate the Grande Prairie Racing Association MR. JAMISON First Reading Second Reading .. Third Reading .. Printed by L. S. Wall, Queen's Printer, Edmonton

Short title Incor poration Provisiona,l directors Shares BILL Pre 1 1972

AN ACT TO INCORPORATE THE GRANDE PRAIRIE RACING ASSOCIATION ( Assented to ,1972)

WHEREAS the persons hereinafter named have by their lJetition prayed that it be enacted as hereinafter set forth and it is expedient to grant the prayer of the petition: ' THEREFORE, Her Majesty, by and with the advice and consent of the Legislative Assembly of Alberta, enacts as follows: 1. This Act may be cited as The Grande Prairie Racing Association Act. 2.

Alfred Baum, Fred Drysdale, William Hoag, Donald Hawkes and Brian Tink, all of the City of Grande Prairie, in the Province of Alberta, together with such persons as become shareholders in the association, are incorporated under the name of The Grande Prairie Racing Associa tion, hereinafter called "the association". 3. The persons named in

section 2 shall be the provis ional directors of the association and their names, address es and occupations are as follows: Alfred Baum, Mechanic, Grande Prairie, Alberta. Fred Drysdale, Dairy Farmer, Grande Prairie, Alberta. William Hoag, Busline Owner, Grande Prairie, Alberta. Donald Hawkes, Farmer, Grande Prairie, Alberta. Brian Tink, Auction Mart Owner, Grande Prairie, Al- berta. 4.

(1) The capital stock of the association shall be ~20,000 divided into 1000 common shares of the par value of $1 each and 190 redeemable preferred shares of the par ,:alue of $100.

(2) The directors shall have power to attach to any class of shares such rights, privileges and priorities as may be determined and subject such shares or any of them, to such 'conditions or restrictions as they may decide.

Head office Objects and powers Powers 5. The head office of the association shall be in the City of Grande Prairie, in the Province of Alberta. 6.

(1) The purpose of the association shall be the hold ing and operating in or adjacent to the City of Grande Prairie, in the Province of Alberta, exhibitions and con tests of standardbred, thoroughbred and other breeds of hurses or anything of like nature calculated to promote and improve the raising and breeding of horses.

(2) The powers given to the association by this Act to hold exhibitions and contests of horses, to own and operate horse racing 'courses, to hold or promote harness, trotting, pacing or flat races and to conduct pari-mutuel betting on such games and races may be exercised only in or adjacent to the City of Grande Prairie, and the association shall not, by itself or its agents, exercise those powers or, by lease, assignment, grant or otherwise, permit any other person to exercise those powers, elsewhere than in or adj acent to the City of Grande Prairie. 2 7. The association shall have power (

a) to promote and improve the breeding of standard- bred, thoroughbred and other breeds of horses in (b) (c) (d) (e) (

f) Alberta, to acquire land in Alberta, and to layout, main tain and operate race courses for standardbred, thoroughbred and other breeds of horse racing, and to construct dub houses and all buildings incidental to the purpose of the association, to hold exhibitions and contests and exercises for promoting skill in the use of arms, and for promot ing harness or trotting or pacing races and flat races and for promoting athletic matches and com petitions, and for all the said purposes to offer and grant or contribute toward the provision of prizes, awards, and distinctions, to conduct pari-mutuel betting on such games and races in accordance with the Criminal Code, from time to time to sell, lease or otherwise dis pose of the whole or an~ p~rt of the prop~rty and undertaking of the aSSOCIatIOn and to acqUIre other property in place or stead thereof by purchase, lease or otherwise, to promote the physical, social and economic wel fare of its members, and (

g) to enter into all contracts and agreements necessary or expedient to be entered into for the foregoing purposes.

Liability of share holders Borrowing Receipts or revenues Preser vation of order Consti tution and membership General meeting 8. The holders of shares in the association shall not be personally liable for the debts of the association or liable tv the association in any sum except such portion of the amount they may have agreed to pay for their shares as n1ay remain at any time unpaid. 9. The association in addition to all other powers shall have power (

a) to borrow or raise or secure the payment of money by negotiable instruments and by the issue of de bentures or debenture stock, bonds, mortgages or obligations, charged upon the property of the asso ciation and to extend the period for payment of the same, and to purchase, redeem or payoff any such securities in whole or in part, (

b) to invest its funds or any portion thereof either directly in the name of the association or indirectly in the name of trustees, in the purchase of such securities as it may deem advisable, and to lend its funds or any portion thereof on any such se curities, and (

c) to mortgage or charge all or any part of the pro perty of the association either for the payment or security for a debt or otherwise. 10. The association shall have power to apply any part of its receipts or revenues by way of prizes to contestants or competitors at any meeting or exercises held by the association or by way of premiums to the breeders or owners of animals exhibiting or contesting thereat. 11. The association shall have power to preserve order upon and in the vicinity of its grounds and for that pur [,ose to employ special constables. 12.

The provisional directors of the association sh~ll have power to provide for the constitution of t~e asso~Ia tion and the admission of members thereto untIl the fIrst board of directors is elected. 13.

A general meeting of the association shall be held within twelve months from the date of the commencement of this Act and in each -calendar year thereafter, and ~t the first general meeting, the management of the aSSOCI ation shall be vested ,in a board of directors consistin~ of such number of members as the association may from time tv time determine and thereafter the board of directors shall be 'elected annually at such general meetings. 3

By-laWS Application of The Companies Act Accounting General laws Coming intlo force 14. A majority of the shareholders of the association n1UY from time to time make and repeal or amend such by laws and regulations for the carrying on of the affairs of the association as they may s'ee fit and any sucn by-laws or regulations not inconsistent with the law or this Act shall be binding upon the association and its members. 15. Sections 62 to 67 of The Companies Act apply to the association. 16.

The association shall at all times when caned upon to do so by the Lieutenant Governor in Council render an account in writing of its property and affairs. 17. The powers herein granted shall be subjoect to the general laws of the Province now in force or hereafter enacted. 18. This Act com'es into force on the day upon which it is assented to. 4 Title: 1972 (17th, 1st) Bill Pr1,

An Act to Incorporate the Grande Prairie Racing Association

Document details

Collection	Alberta — Bills
Citation	L17 S1 5125
Type	bill
Volume / chapter	L17 S1 5125
Language	en
Format	json
Source	PROVINCIAL
Identifier	e40833a2a7cbe95db7f00281146ae2be5b20fb4a

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