hereby empowered to purchase any claim of the Province upon the same, and to raise by assessment the sum necessary to pay the consideration agreed upon. An Act to enable Municipal Corporations in Upper Canada to contract Debts to the Crown, in the purchase of Public Works, without imposing a Special Rate or Tax for the payment of the same. rations empow debts to Her lic Works. Whereas the Public Works which have been, or may be hereafter Preamble. sold or transferred to Municipal Corporations in Upper Canada, yield large sums of money arising from tolls collected on the same, which the said Municipal Corporations may be desirous of applying towards the payment of the instalments of the purchase money of such Works and the interest thereon, as the same shall fall due, instead of being obliged to impose or levy a Special Rate or Tax per annum for payment of the same, and it is therefore desirable that such corporations be at liberty to become debtors to the Crown for the purchase money aforesaid, without levying such Special Rate: Be it therefore enacted, &c., That it shall be lawful for any Municipality or Municipal Corpora- Municipal corpotion in Upper Canada to contract any debt or debts to Her Majesty, ered to contract her heirs or successors, in the purchase of any of the public roads, har- Majesty, in the bors, bridges, buildings, or other public works in Upper Canada; and purchase of Pubthat any such Municipality or other Municipal Corporation may enter into, make and execute, all or any bonds, deeds, covenants, or other securities to Her Majesty, her heirs or successors, which such Municipality or other Municipal Corporation may deem fit for the payment of the amount of the purchase money of any such public work already sold or transferred, or which may be hereafter sold or transferred, or agreed so to be to such Municipality or Municipal Corporation, and for securing the performance and observance of all or any the conditions of sale or transfer; and also and enact all necessary by-laws pass may for any of the purposes aforesaid. And that all such by-laws, debts, bonds, deeds, covenants, or other securities shall be valid and effectual in law, and binding upon such Municipality or other Municipal Corporation to all intents and purposes whatsoever; although no special or other rate per 177 sec. of 12 annum be settled or imposed to be levied in each year, as provided in Am. 14 & 15 Vic, and by the one hundred and seventy-seventh section of an Act of the c. 109, sec. 36. Vic. c.12 C. Corporation may by By-law settle and impose a special rate per annum. Legislature of this Province, passed in the twelfth year of Her Majesty's reign, intituled, An Act to provide by one General Law for the erection of Municipal Corporations, and the establishment of Regulations of Police, in and for the several Counties, Cities, Towns, Townships and Villages in Upper Canada. II. And be it enacted, That it shall, nevertheless, be lawful for any such Municipality or Municipal Corporation, in any By-law to be passed for the creation of any such debts as aforesaid, or for the making or executing any such bonds, deeds, covenants, or other securities as aforesaid, to Her Majesty, her heirs or successors, or in any other bylaw to be passed by such Municipality or Municipal Corporation, to settle and impose a special rate per annum, of such amount as such Municipality or Municipal Corporation may deem expedient, over and above and in addition to all other rates whatsoever, to be levied in each year upon the assessed rateable property within the limits of such Municipality or Municipal Corporation, for the payment and discharge of such Debts, Bonds, Covenants, or other Securities, or some part thereof; and that every such By-law shall be valid and effectual and binding upon such Municipality or Municipal Corporation, although the Rate settled or imposed thereby be less than is required by the said one hundred and seventy-seventh section of the last mentioned Statute; and Provisions of the that all and every the provisions of the said Act, or of any other Act passed or to be passed amending, varying, or repealing the same or any part thereof shall, except in so far as they are inconsistent with the previous provisions of this Act, apply and extend to every such By-law, and the moneys raised or to be raised thereby as fully in every respect as such provisions would extend or apply to any By-law enacted by any such Municipality or Municipal Corporation for the creation of any Debt, or the negociation or raising of any loan, as provided in the said one hundred and seventy-seventh section, or to the moneys raised or to be raised thereby. said Act, how to apply. Preamble. TORONTO LOAN. wwww ACT 16 VIC, CA P. 5. An Act to authorize the City of Toronto to negociate a Loan of One Hundred Thousand Pounds to consolidate a part of the City Debt. Whereas the City of Toronto have petitioned to be authorized by law to borrow on the Debentures of the said City, a sum not exceeding One Hundred Thousand Pounds, for certain purposes and under certain restrictions in the said petition set forth, and it is expedient that the prayer of their said petition should be granted: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to reunite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, That it shall and may be lawful to and for the City of Toronto, to The City of raise by way of Loan, upon the credit of the debentures hereinafter mentioned, from any person or persons, body or bodies corporate, either in this Province, in Great Britain or elsewhere, who may be willing to lend the same, a sum of money not exceeding the sum of one hundred thousand pounds of lawful money of Canada. Toronto may borrow £100,000. be issued. II. And be it enacted, That it shall and may be lawful for the Mayor Debentures may of the said City of Toronto, for the time being, to cause to be issued Debentures of the said City of Toronto, under the Corporation Seal of the said City, signed by the Mayor and Countersigned by the Chamberlain of the said City for the time being, in such sums not exceeding in the whole the said sum of one hundred thousand pounds, as the Common Council shall direct and appoint, and that the principal sum secured by the said debentures and the interest accruing thereon, shall be made payable either in this Province, in Great Britain or elsewhere, as the said Common Council shall deem expedient or necessary. applied to the certain notes, &c., of the said City. III. And be it enacted, That the sum of fifty thousand pounds, part £50,000 to be of the said Loan so to be raised as aforesaid, shall be applied by the redemption of said City of Toronto in the payment of the promissory notes of the said City now currrent in this Province, and in the redemption of such of the Debentures of the said City of Toronto as were issued prior to the passing of the Act passed in the twelfth year of Her Majesty's Reign, and intituled, An Act to provide by one General Law for the erection of Municipal Corporations and the establishment of Regulations of Police, in and for the several Counties, Cities, Towns, Townships and Villages in Upper Canada, and may fall due within the ten years next after the passing of this Act. in Bank of Upper plicable solely to Canada, and ap the said purposes. IV. And be it enacted, That the funds derived from the negociation The said £50,000 shall be deposited of the said debentures so to be appropriated as aforesaid, shall, when received, be deposited by the Chamberlain of the said City for the time being, in the Bank of Upper Canada, at Toronto, and only be with. drawn therefrom as they may from time to time be required for the payment and redemption of the said promissory notes and debentures in the next preceding section of this Act mentioned. £50,000 to be applied to the payment of Stocks taken in a V. And be it enacted, That the sum of fifty thousand pounds, the remainder of the said Loan so to be raised as aforesaid, shall be apcertain Railroad. plied in payment of ten thousand shares of the capital stock of “The Ontario, Simcoe and Huron Railroad Union Company," lately purchased by the said City of Toronto, under resolution of the Common Council, passed on the twenty-ninth day of July, one thousand eight hundred and fifty-two, in manner herein provided; and it shall be the duty of the Chamberlain of the said City for the time being, (and he is hereby authorized and empowered so to do.) forthwith, with the consent of the holders thereof, to call in such Debentures of the said City of Toronto as may have heretofore been issued under any By-law of the Common Council of the said City, and taken in payment of such stock, and to substitute therefor so much of the funds received on account of the debentures to be issued under this Act as may be necessary for that purpose. A certain By-law of the Common Council of Toronto may be repealed. A special rate to form a Sinking How sums raised by such rate and the dividends or interest thereon applied. VI. And be it enacted, That for and notwithstanding any provision, clause, matter or thing contained in any Act of Parliament of this Province to the contrary, it shall and may be lawful for the Common Council of the said City of Toronto, after having called in the debentures described in the next preceding section, to repeal the By-law of the said Council, passed on the twenty-eighth day of June, one thousand eight hundred and fifty-two, authorising the levy of a special rate for the purpose of paying and satisfying certain debentures issued or to be issued in aid of the said Ontario, Simcoe and Huron Union Railroad, or payment of the said stock, and that for the payment, satisfaction and discharge of the debentures to be issued by virtue of this Act, it shall and may be lawful for the Common Council of the said City of Toronto, in a By-law to be passed authorizing the said Loan of One Hundred Thousand Pounds, and the issuing of the debentures therefor, to impose a special rate per annum over and above, and in addition to all other rates to be levied in each year, which shall be sufficient to form a Sinking Fund of two per cent. per annum for that purpose. VII. And be it enacted, That it shall be the duty of the Chambershall be invested, lain of the said City of Toronto, from time to time to invest all suins of money raised by special rate for the Sinking Fund, provided in the preceding section, either in the debentures provided by this Act, or in any debentures issued by the Government of Canada, or in such other securities as the Governor of this Province shall, by order in Council, direct or appoint, and apply all such dividends or interest on the said Sinking Fund to the extinction of the debt created by this Act. By-law to be passed under s. 6, VIII. And be it enacted, That any By-law to be passed under the not to be repealed sixth section of this Act shall not be repealed until the debt created by by this Act be this Act and interest thereon shall be paid and satisfied, and that the until debt created one hundred and seventy-eighth section of the Municipal Corporations pall. Sec. 178 of Act of Upper Canada shall extend to any By-law passed under this extend to any Act. 1. By-law passed under this Act. KINGSTON CONSOLIDATION LOAN. ACT 16 VIC., CAP. 32. An Act to authorize the City of Kingston to negociate a Loan of Seventy-five Thousand Pounds to consolidate the City Debt, and for other purposes. Whereas the City of Kingston have petitioned to be authorized by Preamble. law to borrow on the Debentures of the said City, a sum not exceeding seventy-five thousand pounds, for certain purposes and under certain restrictions in the said petition set forth, and it is expedient that the prayer of their said petition should be granted: Be it therefore enacted by the Queen's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and of the Legislative Assembly of the Province of Canada, constituted and assembled by virtue of and under the authority of an Act passed in the Parliament of the United Kingdom of Great Britain and Ireland, and intituled, An Act to reunite the Provinces of Upper and Lower Canada, and for the Government of Canada, and it is hereby enacted by the authority of the same, That it shall and may be lawful to and for the corporation of the City of Kingston City of Kingston, to raise by way of Loan upon the credit of the de- borrow £70,000 bentures hereinafter mentioned, from any person or persons, body or bodies corporate, either in this Province, in Great Britain or elsewhere, who may be willing to lend the same, a sum of money not exceeding the sum of seventy-five thousand pounds of lawful money of Canada. authorized to on Debentures. Debentures. II. And be it enacted, That it shall and may be lawful for the Form of Mayor of the said City of Kingston for the time being, to cause to be issued Debentures of the said City, under the Corporation Seal, signed by the Mayor and counter-signed by the Chamberlain of the said City for the time being, in such sums, not exceeding in the whole the said sum of seventy-five thousand pounds, as the Common Council shall direct and appoint, and that the principal sum secured by the said Debentures and the interest accruing thereon, shall be made payable |