Bill 65 (Legislature 4, Session 1)

L4 S1 9754

Alberta — Bills

BILL No. 65 of 1918.

An Act to provide for the Guarantee of Loans Raised by the Hail Insurance Board of Alberta. (Assented to , 1918.)

WHEREAS under the proyisions of The Municipal Hail Insurance Act, municipal districts within an area described therein may be' brought under the operation of the said Act, and

whereas for the purpose of carrying on insurance as provided thereunder, it will be necessary for the Hail Insurance Board of Alberta to borrow moneys from time to time, and

whereas it seems expedient that the province should guarantee the repayment of the money borrowed by the said board, together with the interest thereon;

Now, therefore, 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 Hail Insur ance Guarantee Act." 2.

The Lieutenant Governor in Council may from time to time, and at such time or times, and subject to such terms and conditions as he may deem expedient, authorize the guarantee of the repayment of all moneys raised by the issue and sale of a promissory note or promissory notes of the Hail Insurance Board of Alberta, under the provisions of The M'lJ,nicipal Hail Insurance Act, together with interest thereon. 3. The guarantee of any such note or notes by the Treasurer in the form of

schedule A of this Act or to the like effect shall render the Province of Alberta liable as endorser thereof, and shall be conclusive evidence of the liability of the province for the payment of the principal and interest secured thereby. 4. The Lieutenant Governor in Council is hereby author . ized to make arrangements for supplying the money required to fulfil the said guarantee and to advance the sums neces sary for such purpose out of the General Revenue Fund of the province.

SCHEDULE A. FORM OF GUARANTEE. Pursuant to the Statute in that behalf I do hereby on behalf of the Province of Alberta guarantee, in case of default by the makers, payment of prinoipal and interest of the within promissory note. Dated this ........ day of. ............. , A.D. 19 ... . Provincial Treasurer. No. 65. FIRST SESSION FOURTH LEGISLA~rURE GEORGE V BILL Ai::t Act to. pfpvide for the,:G~arantee of Loans Raised by the Hail Insur ance Board of Alberta: Received and read the First time .. Second time .... Third time ........... . HON. MR. MITCHELL. EDMONTON: ,1, W. JI!:FlfEBY, KIN(l'S PnIN'I'EH A.D.I9U! Title: 1918 (4th, 1st) Bill 65,

An Act to provide for the Guarantee of Loans Raised by the Hail Insurance Board of Alberta

Document details

Collection	Alberta — Bills
Citation	L4 S1 9754
Type	bill
Volume / chapter	L4 S1 9754
Language	en
Format	json
Source	PROVINCIAL
Identifier	ea1db6080f32da0601701f79131994d39fee77d7

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