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13 & 14 V I C., CAP. 7 1.
Council may assign claims against companies, and how,
An Act to enable the Provincial Government to dispose of claims
against certain Companies for Loans made to them under the
authority of certain Acts of the Parliament of Upper Canada. Whereas the Government of this Province, or that of the Province of Upper Canada, hath at divers times, under the authority of Acts of the Legislature of Upper Canada, advanced or paid sums of money to or for Companies incorporated for the purpose of constructing canals, railroads, harbours, roads and other works and improvements of a public nature in Upper Canada, and such sums or part thereof, or the interest thereon or part thereof, remain due to the Province, and it is expedient to authorize the Provincial Government to dispose of the claim of the Province for any such sum as aforesaid, to any party who may be willing to purchase the same, and upon such terms as may be
agreed upon between the Government and such party: Be it therefore Governor in enacted by the Queen's Most Excellent Majesty, &c., That it shall be
lawful for the Governor in Council, by any Order in Council to be made for that purpose, to assign, transfer and convey to any Municipal Corporation, Incorporated Company or other party, who may agree to purchase the same, the claim of the Province for any sum of money due from any Company or party, and arising out of any such advance or payment as is mentioned in the preamble to this Act, on such conditions and with such clauses, provisions and limitations as shall be mentioned in such Order in Council, including the undertaking of any third party to become surety for the due payment of the consideration money, and the faithful performance of any conditions therein mentioned; and any such Order in Council shall transfer to and vest in the party therein named for that purpose, all the rights of the Crown in and to the debt or claim thereby intended to be transferred, and shall have effect according to the tenor thereof, as if the clauses, conditions and provisions thereof were inserted in this Act: and a copy of the
Canada Gazette containing any such Order in Council, or any copy Evidence of such of such Order certified by the Provincial Secretary, shall be evidence
thereof, and the consent and agreement of all the parties named therein shall be presumed, unless disputed by such parties, and if disputed, shall be proved by any copy of such Order in Council on which the consent of such parties shall be written and attested by such signature
or seal, or both, as would be sufficient to make any deed or agreement Municipal corpo- the deed or agreement of such parties : and any Municipal Corporation ed to purchase.
were in or through whose Municipality any such public work or improve
ment as is mentioned in the preamble to this Act, may lie or pass, so
Municipal corpo rations empower
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.
CROWN DEBTS ABANDONED.
14 & 15 VIC., CAP. 124.
An Act to enable Municipal Corporations in Upper Canada to
contract Debts to the Crown, in the purchase of Public Works,
same. 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, her heirs or successors, in the purchase of any of the public roads, har-debitests bors, bridges, buildings, or other public works in Upper Canada; and it that 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 may also pass and enact all necessary by-laws for any of the purposes aforesaid. And that all such by-laws, debts, bonds, deeds, covenants, or other securities shall bo 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 e 15 Vic. and by the one hundred and seventy-seventh section of an Act of the C 10
rations empowered to contract debts to Her
purchase of Public Works.
Vic. c. 12
. 109, sec. 38.
special rate per annum.
Legislature of this Province, passed in the twelfth year of Her Majesty' 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. Corporation may II. And be it enacted, That it shall, nevertheless, be lawful for any and impose a 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.
Provisions of t said Act, how to apply.
ACT 16 V IC. 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 men- bero.no tioned, 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.
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.
IlI. 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 &c., 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.
IV. And be it enacted, That the funds derived from the negociation The said £50,000 of the said debentures so to be appropriated as aforesaid, shall, when in Bank of Upper received, be deposited by the Chamberlain of the said City for the time plicable solely to 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.
applied to the
shall be deposited
Canada, and ap
the said purposes.
£50,000 to be applied to the payment of Stocks taken in a
blockera mim remainder
A certain By-law of the Common
Toronto may be repealed.
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 ne
cessary for that purpose. A certain By-law VI. And be it enacted, That for and notwithstanding any provision, Council of 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 A special rate discharge of the debentures to be issued by virtue of this Act, it shall Fund may be 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 3
Sinking Fund of two per cent. per annum for that purpose. How sumg raised 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 or interest ***ne of money raised by special rate for the Sinking Fund, provided in the thereon applied.
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.
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
to form a Sinking
er storking discharge of the le said stock, and Simcoe and
imposed by By-law.
by such rate
and the dividends
By-law to be passed under s. 6,