CHAPTER 66.

An Act respecting the Lacombe and North

Western Railway.

(Assented to April 2, 1927.)

WH

HEREAS by chapter 54 of the Statutes of Alberta, 1925, Preamble it is provided that the sum of five hundred and twenty thousand dollars should be lent to the Lacombe and North Western Railway Company for the purpose of extending its line from a point in the neighborhood of mile 49 in a general northerly direction, for a distance of twenty miles; and

Whereas, by chapter 63 of the Statutes of Alberta, 1926, it is provided that the sum of sixty-two thousand, four hundred dollars should be lent for the purpose of extending the line of the Company from a point in the neighborhood of mile 69.4 in a general northerly direction, for a distance of 2.4 miles; and

Whereas, the cost of the said extensions of lines has amounted to six hundred and ten thousand, three hundred and fourteen dollars and forty-eight cents; and

Whereas, under the provisions of The Treasury Department Act, a warrant has been issued for the sum of twentyseven thousand, nine hundred and fourteen dollars and fortyeight cents; and

Whereas, it is expedient that the expenditure of the last mentioned sum should be confirmed; and

Whereas, it is estimated that it will be necessary to advance the company a further sum of twenty-seven thousand and eighty-five dollars and fifty-two cents, to complete the said extensions; and

Whereas, it is estimated that it will be necessary to advance the company a further sum of sixty-four thousand, nine hundred and fifty dollars to defray the cost of maintenance, improvement, upkeep and equipment of such railway during the year one thousand nine hundred and twentyseven;

Now, therefore, His Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows:

2

Advances for construction

Payment to company

Advances for maintenance,

etc.

Terms of advances

Coming into force of Act

Cap. 66 LACOMBE AND NORTH WESTERN RAILWAY

1927

1. The hereinbefore mentioned expenditure of twentyseven thousand, nine hundred and fourteen dollars and fortyeight cents, is hereby authorized, validated and confirmed.

2. The Lieutenant Governor in Council may raise by way of loan the sum of twenty-seven thousand and eighty-five dollars and fifty-two cents; and lend the same to the company, without any further or other appropriation than is provided by this section, for the purpose of defraying the cost of construction, and completion of the said extensions.

3. The said sum shall be paid to the company by instalments and upon progress certificates, signed by the Minister or by the Deputy Minister of the Department of Railways and Telephones.

4. The Lieutenant Governor in Council may raise by way of loan a further sum of sixty-four thousand, nine hundred and fifty dollars, and may without any further or other appropriation than is contained in this section, make advances to the company up to such sum as, and whenever the sum, may be required, for the purpose of defraying the cost of maintenance, improvement, upkeep and equipment of the railway of the company in the year one thousand nine hundred and twenty-seven.

5. Notwithstanding any other statutory provisions, the company shall have power to borrow and give security for sums lent to it under the provisions of this Act.

6. The Lieutenant Governor in Council may advance all moneys hereinbefore provided for, at such time or times and at such rate of interest, upon such security, and on such other terms not inconsistent with this Act, as he may determine.

7. This Act shall come into force on the day upon which it is assented to.

CHAPTER 67.

An Act respecting the Alberta and Great
Waterways Railway Company.

(Assented to April 2, 1927.)

WHEREAS, the shares of the issued capital of the Al- Preamble

berta and Great Waterways Railway Company (hereinafter called "the Company") are lawfully and completely vested in the Minister of Railways and Telephones, or his nominees; and

Whereas, it is estimated that it will be necessary to advance to the Company the sum of one hundred and fifteen thousand, seven hundred and eighty-seven dollars and fifty cents to defray the cost of maintenance, improvement, upkeep and equipment of the railway of the Company;

Now, therefore, His Majesty, by and with the advice and consent of the Legislative Assembly of the Province of Alberta, enacts as follows:

maintenance,

1. The Lieutenant Governor in Council may raise by way Advances for of loan the sum of one hundred and fifteen thousand, etc. seven hundred and eighty-seven dollars and fifty cents, and may without any further or other appropriation than is contained in this section, make advances to the Company up to such sum as and whenever the same may be required for the purpose hereinbefore recited.

Company to

2. Notwithstanding any other statutory provision, the Power of company shall have power to borrow and give security for borrow, etc. any sums lent to it under the provisions of this Act.

loan

3. The Lieutenant Governor in Council may lend all Terms of moneys hereinbefore provided for at such time or times, at such rate of interest, upon such security and upon such other terms not inconsistent with this Act as he may determine.

force of Act

4. This Act shall come into force on the day upon which Coming into it is assented to.