Bill 37 (Legislature 15, Session 2)

L15 S2 1476

Alberta — Bills

No. 37 2nd Session, 15th Legislature, Alberta 13 Elizabeth II BILL 37 A Bill to amend The Alberta Municipal Financ}J)g Corporation Act HON. MR. AALBORG PrInted by L. S. WALL, Printer to the Queen's Most Excellent Ma.jesty, Edmonton, Alberta, 1965

Explanatory Note I. This Bill will amend

chapter 3 'Of the Statutes of Alberta, 1956.

Section 2, clause (

f) presently reads: (f) "municipality" means an improvement district, municipal district, special area, county, school district, schoo.l divisi<;m, .muni~ip~l hospital district, irrigation district or dramage dlstrIct wlthm Alberta;

Section 10, subsection (1) presently reads: 10.

(1) The corporation may from time to time allot shares to municipalities, cities and tDwns upon the basis o.f the populations thereof and in accordance with the regulations made in that behalf but the allotment of shares to school districts, school divisions, munici pal hospital districts, irrigation districts and drainage districts shall be one Class B common share to each such distl'ict or division. 4. The maximum amount that may be borrowed is increased.

Section 31, subsection (1) presently reads: 31.

(1) Notwithstanding the powers set forth in sections 25 and 26 the corporation shall not borrow any money by the issue and sale of notes, bonds, debentures or other securities or by way of temporary loan where the borrowing ,,"ould cause the aggregate principaL amount of the outstanding notes, bonds, debentures and other securities issued by the corporation, together with the outstanding tempDrary loans raised by the corporation, to exceed the aggregate sum of three hundred and seventy-five million dollars.

Section 41 reads: 41. This Act shall be not so interpreted as to' construe the corporation an agency or emanation of the Crown. 6. Commencement of Act.

BILL No. 37 of 1965

An Act to amend The Alberta Municipal Financing Corporation Act (Assented to , 1965) HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Alherta, enacts as follows: 1. This Act amends The Alberta Municipal Financing Corporation Act.

Section 2, clause (

I) is amended by striking out the words "municipal hospital district," and by substituting the words "hospital district or the owners 'Of an approved hos pita.l under The Alberta Hospitals Act 'Or"

Section 10, subsection (1) is amended (

a) by striking 'Out the words "municipal hospital dis tricts" and by substituting the words "hospital dis tricts, owners of approved hospitals,", (

b) by adding at the end of the subsection the words "or approved hospital".

Section 31, subsection (1) is amended by striking out the words "three hundred and seventy five million dollars" and by substituting the words "four hundred and twenty five million dollars".

Section 41 is repealed. 6. This Act comes into fQrce on the day upon which it is assented to.

No. 37 SECOND SESSION FIFTEENTH LEGISLATURE 13 ELIZABETH II 1965 ... BILL

An Act to amend The Alberta Municipal Financing Corporation Act Received and read the First time ......................................... . Second time ............ . Third time ......................... . HON. MR. AALBORG Title: 1965 (15th, 2nd) Bill 37,

An Act to amend The Alberta Municipal Financing Corporation Act

Document details

Collection	Alberta — Bills
Citation	L15 S2 1476
Type	bill
Volume / chapter	L15 S2 1476
Language	en
Format	json
Source	PROVINCIAL
Identifier	fa7af522540c824d2ca48331304ba523e87dabdb

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