Interest and Sinking Fund lawful charges. 3. Every sum required for (a) interest on such debentures; (b) the sinking fund so provided; shall be held to be sums required for the ordinary lawful purposes of the town and shall be raised, levied and collected in the same manner and in all respects as other sums required for the ordinary lawful purposes of the town are raised, levied and collected. May levy Poll When payable. CHAPTER 96. An Act Relating to the Town of Sydney Mines. (Passed the 19th day of March, A. D. 1926.) Be it enacted by the Governor, Council and Assembly as follows: 1. Notwithstanding the provisions of Section 6 of Chapter 86, Revised Statutes of Nova Scotia, 1923, the Council of the town of Sydney Mines may by by-law levy a poll tax of not less than ten dollars and not more than fifteen dollars upon every male resident of the town between the ages of eighteen and sixty years, who is not rated upon real or personal property within the town to an amount exceeding two hundred dollars, except active members of fire companies and members of protection companies and salvage corps within the town, and members of such companies as have retired after the full services required by law. 2. Such poll tax shall be payable on the first day of April in each year. CHAPTER 97. An Act to Enable the Town of Sydney Mines to (Passed the 19th day of March, A. D. 1926.) Be it enacted by the Governor, Council and Assembly, as follows: Purpose of 1. The Town of Sydney Mines is authorized to borrowing. borrow or raise by way of loan, on the credit of the Town, a sum not exceeding fifteen thousand dollars, for the purpose of redeeming the debentures issued under the authority of Chapter 87, of the Acts of the Legislature of Nova Scotia, 1906, entitled "An Act to Enable the Town of Sydney Mines to Borrow Money." 2. Where any money is borrowed or raised by the issue and sale of debentures of the town under this Act and the Municipal Debenture Act, the Council of the Town shall provide for a sinking fund with respect to such debentures. Sinking Fund. Interest and The amount to be paid annually into the sinking Sinking Fund fund shall not be less than three per centum of the lawful charges. aggregate amount of said debentures, and shall not be more than the council deems sufficient to provide for the payment of the debentures when the same are payable, and the first payment into such sinking fund shall be made within one year from date of the debentures. 3. Every sum required for (a) interest on such debentures; (b) the sinking fund so provided; shall be held to be sums required for the ordinary lawful purposes of the town, and shall be raised, levied and collected in the same manner and in all respects as other sums required for the ordinary lawful purposes of the town are raised, levied and collected. Debentures. 4. Such debentures shall be payable within such period not exceeding twenty years from the date thereof and bear interest at such rate not exceeding five and one half per centum per annum as the said Council determines. Authority to borrow. Sinking Fund. CHAPTER 98. An Act to Authorize the Town of Truro to Borrow (Passed the 19th day of March, A. D. 1926.) Be it enacted by the Governor, Council and Assembly as follows: I. The Town of Truro is authorized to borrow or raise by way of loan on the credit of the Town a sum not exceeding Twenty Thousand Dollars for the following purpose, that is to say, the sum of Twenty Thousand Dollars to be paid to the Colchester County Hospital Trust as a contribution towards the building fund of the Colchester County Hospital. 2. Where any money is borrowed or raised by the issue and sale of debentures of the Town under this Act and the Municipal Debentures Act the Council of the Town shall provide for a sinking fund with respect to such debentures. The amount to be paid annually into the sinking fund shall be an amount which the Council deems sufficient to provide for the payment of the debentures when the same are payable, but which shall not be less than two per centum of the aggregate amount of such debentures, and the first payment into the sinking fund shall be made within one year from the date of the debentures. 3. Every sum required for - Interest and Sinking Fund lawful charges. (a) interest on such debentures; (b) the sinking fund so provided; shall be held to be sums required for the ordinary lawful purposes of the Town and shall be raised, levied and collected in the same manner and in all respects as other sums required for the ordinary lawful purposes of the Town are raised, levied and collected. CHAPTER 99. An Act to Authorize the Town of Truro to Borrow Money for the Extension of Surface Drains and for the Construction of Concrete Sidewalks. (Passed the 19th day of March, A. D. 1926) Be it enacted by the Governor, Council and Assembly as follows: borrow. The Town of Truro is authorized to borrow Authority to or raise by way of loan on the credit of the Town a sum not exceeding Nine Thousand Five Hundred Dollars for the following purposes, that is to say: (a) A sum not exceeding Seven Thousand Dollars for the extension of surface drains; (b) A sum not exceeding Two Thousand Five. Hundred Dollars for the construction of concrete sidewalks. 2. Where any money is borrowed or raised by the Sinking Fund. issue and sale of debentures of the Town under this Act and The Municipal Debentures Act the Council of the Town shall provide for a sinking fund with respect to such debentures. The amount to be paid annually into the sinking fund shall be an amount which the Council deems sufficient to provide for the payment of the debentures when the same are pay Interest and Sinking Fund lawful charges. able, but which shall not be less than two per centum of the aggregate amount of such debentures, and the first payment into the sinking fund shall be made within one year from the date of the debentures. (a) interest on such debentures; (b) the sinking fund so provided; shall be held to be sums required for the ordinary lawful purposes of the Town and shall be raised, levied and collected in the same manner and in all respects as other sums required for the ordinary lawful purposes of the Town are raised, levied and collected. Authority to borrow for curent expenses. When principal repayable, with interest. CHAPTER 100. An Act Respecting the Municipality of the County of (Passed the 15th day of March, A. D. 1926.) Be it enacted by the Governor, Council and Assembly, as follows: Notwithstanding any of the provisions of Chapter 83 of the Revised Statutes of Nova Scotia, 1923, the Municipality of the County of Antigonish is hereby authorized and empowered to borrow from any chartered bank in Canada a sum not exceeding twenty five thousand dollars, to meet the current expenses of the said Municipality, until the taxes for the year 1926 are collected. Said amount or any part thereof so borrowed shall be payable and repaid with interest thereon at a rate not exceeding five and a half per centum per annum, on or before the fifteenth day of January, 1927. |