(3) In case the Legislative Assembly at the said session, or if the session does not continue for three weeks after the said regulation is laid before the House, then at the ensuing session of the Legislature, disapproves by resolution of such regulation, either wholly or of any part thereof, the regulation, so far as disapproved of, shall have no effect from the time of such resolution being passed. 50 V. c. 43, s. 88. 89. Section 5 and the sub-sections thereof referring to the Commenceestablishment of a teaching faculty in medicine and law, and ment of Act. sub-sections 4, 5, 6, 7 and 8 of section 53, shall take effect on the 23rd day of April, 1887, and the remaining portion of this Act shall take effect by proclamation of the LieutenantGovernor in Council, and when so proclaimed all other Acts inconsistent herewith shall be repealed. 50 V. c. 43, s. 89. (1) That the signature affixed hereto is my proper handwriting. (2) That I vote for the following person (or persons) as Chancellor or as members of the Senate (as the case may be) of the University of Toronto, viz., in the County of etc., etc.. of (3) That I have not in this election signed any other voting paper as a graduate in the Faculty of Arts (or Medicine or Law or as Headmaster or Assistant of a High School, as the case may be). (4) That this voting paper was executed on the day of the date hereof. (5) That I vote in my right as Graduate of University, or Head Master or Assistant Master of a High School (as the case may be). Witness my hand this day of A.D. 18 50 V. c. 43, Sched. CHAPTER 231. An Act respecting the Income and Property of the PROPERTY VESTED IN CROWN, ss. 1,6. Management, s. 7. UPPER CANADA COLLEGE, Ss. 2-4. ISSUE OF DEBENTURES, 8. 5. BURSAR, SS. 7-12. Appropriations, how made, ss. 20 22. Apportioning property for the use of the several institutions, s. 24. IMPROVEMENT OF BUILDINGs, s. 25. FISCAL YEAR, s. 26. Investments to be taken in name QUEEN'S PARK LEASE, s. 27. of, s. 15. Expenses of Office, s. 23. CONVEYANCES OF PROPERTY, ss. 13,14. AGREEMENT WITH VICTORIA UNI VERSITY CONFIRMED, S. 28. COMMENCEMENT OF ACT, s. 29. Property vested in Crown. Site for Upper Sale of present Canada College ER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of Ontario, enacts as follows: 1. All the property and effects, real and personal, of what nature and kind soever vested in the Crown when this Act takes effect, in trust for the purposes of the University of Toronto, University College and Upper Canada College, shall hereafter be deemed to be and shall be so vested for the purposes of the University of Toronto and University College, subject to the provisions of this Act and the Acts respecting the said University of Toronto and University College. 50 V. c. 44, s. 1. 2. The Lieutenant-Governor in Council may assign as a site for the erection of new buildings for the use of Upper Canada College a portion of the property now vested in the Crown for the purposes of the University of Toronto and University College, or may acquire by purchase such other site within ten miles of the city of Toronto, as may be suitable. 50 V. c. 44, s. 2. 3. That property in the city of Toronto forming the block site of Upper of land between King, Adelaide, Simcoe and John streets, in said city, and being the present site of the said Upper Canada College, may be sold, subject to such terms and conditions and in such manner as the Lieutenant-Governor shall, by order in council, direct. 50 V. c. 44, s. 3. authorized. Canada 4. Out of the moneys, or securities arising from the property Endowment so sold, or from property heretofore vested in the Crown in fund of Upper trust for Upper Canada College, and which heretofore formed College. in part the permanent fund of said College, the sum of $100,000 shall be set apart by the Lieutenant-Governor in Council as a permanent fund for the said institution; and a further sum not exceeding $120,000, exclusive of the cost of a site, for the erection of suitable buildings for the use and accommodation of the said Upper Canada College, and any sum remaining unexpended after paying the purchase money of such site and erecting and equipping the buildings aforesaid shall be appropriated for the use of the University of Toronto and University College as the Lieutenant-Governor in Council may direct. 50 V. c. 44, s. 4. debentures 5. For the purpose of erecting and equipping new buildings Issue of for the use of Upper Canada College and the University of authorized. Toronto and University College, and for the purpose of making such alterations in and additions to the present buildings of the University and University College as may be deemed expedient, the Lieutenant-Governor, by order in council, may provide for the issuing of debentures upon the credit of the permanent fund of the said University of Toronto to the amount of $200,000, such debentures to run for such periods and at such rates of interest as shall seem proper to the said Lieutenant-Governor in Council, and the proceeds arising from the sale of such debentures shall be subject to the regulations of the Lieutenant-Governor in Council. 50 V. c. 44, s. 5. 6. All property, real and personal, hereafter given, devised Gifts for University, or bequeathed to or for the said University of Toronto, Uni- etc., to vest in versity College or Upper Canada College shall be vested in the Crown. Crown for the purposes and support of said institutions respectively, subject to the provisions of this Act and to the terms of the gift, devise or bequest. 50 V. c. 44, s. 6. 7. All the property and effects, real and personal, vested in Management the Crown as aforesaid, shall be managed and administered of property. under the orders of the Lieutenant-Governor in Council, by an officer to be appointed by commission under the great seal of this Province, to hold his office during pleasure and to be called the bursar of the University and Colleges of Toronto. 50 V. c. 44, s. 7. 8. The salary of the bursar shall be such amount as may be Bursar's salappropriated by the Legislature, and the bursar shall be ary. allowed by the Lieutenant-Governor in Council such assistance in his office as may be found necessary. 50 V. c. 44, s. 8. 9. The bursar shall have a seal of office, and shall have such Bursar to have powers as may from time to time be assigned to him by the a seal, etc. Lieutenant-Governor in Council, for the management and Bursar to give security to the Crown. Responsibility of the bursar. To transmit annual ac counts to the Lieutenant- administration of the said property, for the leasing or sale of the same, or any portion thereof, including the present site of Upper Canada College, for the receiving of rents, issues and profits thereof or the proceeds of the sale of any part thereof, or of any moneys in any way arising therefrom, and he shall account for and pay over the same in such manner as the Lieutenant-Governor from time to time directs. 50 V. c. 44, s. 9. 10. The bursar shall give security to the Crown for the due performance of his duties and the faithful accounting for and paying over all moneys which come into his hands as such bursar, in such amount, with such securities, and in such manner and form as the Lieutenant-Governor in Council may direct. 50 V. c. 44, s. 10. 11. The bursar shall, as regards his obligation to account for and pay over the moneys which come into his hands as bursar, be deemed to be an officer employed in the collection of the Provincial Revenue, and shall in case of his default, be liable to be dealt with accordingly. 50 V. c. 44, s. 11. 12. (1) At such time in each year as the LieutenantGovernor may appoint, the bursar shall make and transmit to him an annual account of the property under the bursar's management and of his official receipts and expenditure; and a the Legislative copy of such account shall be laid before the Legislative Assembly at the next Session thereof. be laid before Assembly. What such accounts must shew. (2) Every such annual account shall shew, among other things(a) The total investments in the permanent fund hereinafter mentioned, and the annual income therefrom. (b) The amount received each year from fees, interest, donations or other sources, and a detailed account of the amount expended in salaries, contingent expenses and buildings, specifying the duties of the persons receiving such salaries, and the purposes of such buildings. 50 V. c. 44, s. 12. DEEDS OF CONVEYANCE. Provision for 13. In order to facilitate the transfer and conveyance of facilitating the transfer of the property so as aforesaid vested in Her Majesty, the Lieuproperty sold. tenant-Governor may from time to time issue a commission, under the Great Seal, to the bursar of the University and Colleges at Toronto, authorizing the said bursar, under his hand and seal of office, to transfer and convey any of such property to purchasers and others entitled to receive conveyances thereof; and all such transfers and conveyances may be made according to the form of the schedule to this Act, or in words to the like effect; and the same shall to all intents and purposes grant, transfer and convey the lands therein set forth, to the parties therein specified, according to the quality of the estate and the conditions and provisions therein mentioned, in the same manner and with the like effect as if the same had been directly granted by the Crown under the provisions of this Act; but nothing herein contained shall prevent the Crown from granting such lands directly. 50 V. c. 44, s. 13. 14. All such transfers and conveyances shall be registered Transfers tobe in the registry office of the registry division in which the lands registered, etc. are situate, in like manner and subject to the same provisions of law as conveyances from and to private parties. 50 V. c. 44, s. 14. the name of ursar. 15.-(1) When under any order of the Lieutenant-Governor Investments in Council any part of the endowment of the University in to be taken in Toronto, University College or Upper Canada College is authorized to be invested on the security of freehold lands in. this Province, the mortgages or other instruments representing such investments may be made to and taken in the name of the bursar of the University and Colleges at Toronto in his official character as such, and his successors in office, and the said bursar and his successors shall have and possess such powers with respect to taking and holding such securities and releasing, discharging or assigning the same under his seal of office as bursar as from time to time may be assigned to him by any order of the Lieutenant-Governor in Council, under and subject to such regulations, terms and conditions as may be prescribed in such order. (2) Each and every mortgage security heretofore taken, and in which any part of the property or endowment of the University of Toronto, University College, or Upper Canada College respectively, is invested, is hereby granted to and vested in the said bursar and his successors in office, under and subject to the provisions of this Act. 50 V. c. 44, s. 15. GENERAL INCOME FUND. constituted. 16. The fees received for tuition, examination, degrees, General incertificates of honour or otherwise, in the said University of come fund Toronto, in University College, and in the said Upper Canada College, the rents, issues and profits of all such property as aforesaid, and all the interest on the purchase money of any part of such property sold and not wholly paid for, or on moneys arising from the sale of any such property and invested at interest and all other casual and periodical incomings, including any donations or subscriptions touching which it has not been otherwise ordered by the donors, shall be deemed income for the purposes of this Act, and shall form the general income fund, and may be expended for the purposes and under the authority of this Act. 50 V. c. 44, s. 16. |