Bill 17 (Legislature 5, Session 6)

L5 S6 9323

Alberta — Bills

BILL No. 17 of 1926.

An Act respecting the Lacombe and North Western Railway. (Assented to 1 1926.)

WHEREAS it is to the advantage of the Province that the line of the Lacombe and North Western Railway Company (hereinafter called "the Company") should be ex tended from a point in the neighborhood of mile 69.4 in a generally northerly direction for a distance of 2.4 miles; And

whereas the estimated cost of the completion of such extension is the sum of Sixty-two Thousand Four. Hundred Dollars; And

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

whereas it is estimated that it will be necessary to advance the Company a further sum of Sixty-four Thousand Six Hundred Dollars to defray the cost of maintenance, im provement, upkeep and equipment of such railway during the year 1926; I

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 Lieutenant Governor in Council may raise by way of loan the sum of Sixty-two Thousand Four Hundred Dol lars 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 com pletion of the said extension of the railway of the Company. ~.

The said sum shall be paid to the Company by instal ments and upon progress certificates signed by the Minister or Deputy Minister of the Department of Railways and Tele phones. 3.

The Lieutenant Governor in Council may raise by way of loan a further sum of Sixty-four Thousand Six Hundred dollars and may without any further or other appropriation than is contained in this section, make advances to the Com pany up to such sum as and whenever the same may be re quired 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 hundred and twenty six. 2 4.

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. 5. The Lieutenant Governor in Council may advance all moneys hereinbefore provided for:at such time or times and at such rate of int~rest, upon such security, and on such other terms not inconsistent with this' Act, as he may deter mine. 6. This Act shall come into force on the ............. . day of ....................... 19 .... . No. 17. SIXTH SESSION FIFTH 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. M~LIilAN. ACTING KING'S PluNTEB A.D. 1926. Title: 1926 (5th, 6th) Bill 17,

An Act respecting the Lacombe and North Western Railway

Document details

Collection	Alberta — Bills
Citation	L5 S6 9323
Type	bill
Volume / chapter	L5 S6 9323
Language	en
Format	json
Source	PROVINCIAL
Identifier	ed003c5f10038fce95996e1bd9d0b79dde645010

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