shall be postponed until the thirty-first day of December, 1937, and in like manner the running of all statutes of limitations of actions or proceedings against the said City, School Trustees, School Districts, or any one or more of them, shall be suspended during said period. 4. No suit, action or other proceeding shall for a Proceedings period ending the thirty-first day of December, 1937, be postponed proceeded with or commenced by any creditor against the City, School Trustees, School Districts, or any one or more of them, nor shall a levy be made under a writ of execution against the City, School Trustees, School Districts, or any one or more of them, without the consent in writing of all the Supervisors: Provided always that the provisions of this section and of clause (c) of section 3 of this Act shall not extend to debts, claims or demands of or to suits, actions or proceedings brought by: (a) employees of the City, School Trustees or School (b) any bank, person or corporation with respect to agreement 5. The said agreement shall enure to the benefit of Effect of and be binding upon all persons over whom the Legislature of the Province of Saskatchewan has legislative authority, except the Board of Trustees for the St. Patrick Roman Catholic Separate School District No. 11 of Saskatchewan. acts and 6. No supervisor shall be liable for any act or omission Liability for of the representative or of any person employed by him omissions or for any act or omission of any other supervisor or for any act or omission whatsoever save an act or omission involving his own individual dishonesty. No suit, action or other proceeding shall be brought against the supervisors or any one or more of them for anything done or omitted to be done or purported to be done by them, or any of them, in the carrying out of the provisions of the said agreement, save and except for some act or omission of personal dishonesty. Lieutenant 7. The Lieutenant Governor in Council with the Powers of consent of the City, School Trustees, Committee, Bank Governor in of Commerce and Royal Bank, may make such orders Council as are deemed necessary to carry out the provisions of the said agreement according to its true intent and meaning or to meet cases which may arise and for which no provision is made therein. Powers of Statutes to apply Previous acts validated Application of certain provisions Definition Provision for the separate school 8. The powers conferred on the Local Government Board under sections 14 to 22, both inclusive, of The Local Government Board (Special Powers) Act, 1922, may be exercised by the Local Government Board with respect to any lands within the City to the same extent as if the affairs of the city were under inquiry under the said Act. 9. The general statutes of the Province of Saskatchewan shall be read and applied subject to the provisions of this statute and said agreement. 10. All acts and things done or omitted to be done prior to the passing of this Act and on or after the date of the said agreement, by or under the authority of the said agreement, which had they been done or omitted after the passing of this Act, would have been authorised by this Act, shall be deemed to have been done or omitted under the authority of this Act, and are hereby declared to have been lawfully done or omitted. 11. Notwithstanding the exception contained in section 5 hereof, the provisions of the said agreement respecting the consolidation of taxes and penalties, the preparation of the assessment roll and the completion and adoption thereof, the payment of the consolidated taxes, the discounts allowed thereon, the forfeiture of lands for non-payment of such taxes and subsequent taxes, the acquiring of title by the city to lands forfeited, the purchase of lands so forfeited, the sale or other disposal of such lands and the disposition of the proceeds realised therefrom shall apply to lands assessed for separate school purposes to the same extent as if assessed for public school purposes. 12. The expression "the city's equity in all arrears of taxes on such lands" as used in paragraph 36 of the said agreement shall mean and include the difference between the total taxes in arrear against the lands referred to in the said paragraph on the date of title being acquired by the city and the amount of the said taxes secured to the Bank of Commerce and the Royal Bank by the said agreement. All moneys received by the city as "the city's equity" shall be divided between the city and school trustees in the proportion that the taxes levied for general purposes and the taxes levied for school purposes bear to one another. 13. Nothing in this Act or in the said agreement shall impair or affect the rights, powers and privileges of the St. Patrick Roman Catholic Separate School District No. 11 of Saskatchewan or the board of trustees for the said district, or the duties and obligations of the city and city council with respect to the assessment and levy of the sums required for the purposes of the said district; but the city council and the supervisors or the representative, in preparing, revising and approving estimates and rates, in assessing and levying taxes and authorising expenditures, shall make allowance and provision for such sums, and shall do all acts and take all proceedings necessary to provide them for the district, in the same manner and to the same extent as if this Act had not been passed. Assessment 14. During the period ending on the thirty-first day School of December, 1937, the word "May" in the second line Act of subsection (1) of section 43 of The School Assessment Act shall, for the purposes of this Act, be read "March," and the word "December" at the end of the sixth line. shall be read "October." affected 15. Nothing herein contained shall affect rights Existing acquired or liabilities incurred at or before the date when rights not this Act comes into force under An Act respecting the City of Swift Current being chapter 65 of the Statutes of 1923, or under the agreement thereby ratified, and the said Act and Agreement therein referred to shall, except where altered by the provisions of this Act, continue in full force and effect to the end that all things lawfully done and all rights acquired, and all liabilities incurred thereunder, shall remain valid and enforceable, and all proceedings and things lawfully commenced thereunder shall be continued and completed, except where, by the provisions of this Act, it is provided that the same shall be continued and completed hereunder. 16. This Act shall come into force on the first day of Coming January, 1928. into force SCHEDULE. AGREEMENT. THIS AGREEMENT made the twenty-ninth day of January, A.D. 1927. BETWEEN: The City of Swift Current, hereinafter called the The Board of Trustees for the Swift Current A. E. Pequegnat, of the City of Waterloo, in the of the third part, The Canadian Bank of Commerce, hereinafter called the "Bank of Commerce," AND of the fourth part, The Royal Bank of Canada, hereinafter called the "Royal Bank,” of the fifth part, Whereas the city and the school trustees prior to the sixth day of February, 1923, had made default in payment of their debts, and in and by a certain agreement entered into on the said date an adjustment of the liability and indebtedness of the said parties was made with their respective creditors for a term of five years; And whereas, the said agreement was ratified and confirmed and declared to be legally binding according to the tenure thereof, being chapter 65 of the statutes of the Province of Saskatchewan, 1923. And whereas, pursuant to section seven (7) of the statutes of Saskatchewan for the year 1923, chapter 65, an order in council bearing date the eighteenth day of December, A.D. 1923, was made authorising the issue of certificates of indebtedness; And whereas, pursuant to the said order, certificates of indebtedness have been issued; And whereas, the principal sums set out in such certificates of indebtedness are deemed for the purposes of this agreement to be included in the word "debt" or "indebtedness" of the City and School Trustees; And whereas, the term of the said agreement will expire on the thirty-first day of December, A.D. 1927, and provision is made therein, under clause 45 of the said agreement, for a re-survey of the City's financial position, with a view to a new agreement being entered into between the parties concerned: And whereas, such re-survey has been made, and it has been agreed that for a period ending the thirty-first day of December, A.D. 1937, the business of the said. City shall be conducted, and the payment of the said debts made in the manner herein set out: Now this agreement witnesseth, that in consideration of the mutual covenants and agreements herein contained, the parties hereto covenant and agree each with the other, as follows: 1. The business of the said City and the payment of the said debts shall be carried on for the said period ending the thirty-first day of December, 1937, in the manner hereinafter set out. 2. The City shall in each and every year assess and levy a rate on all the rateable property in the City sufficient to provide for the general expenditure of the City and schools in such year, including such amount as shall be deemed necessary and reasonable for capital expenditure in such year and to provide for interest on the indebtedness as at the first day of January, 1922, subject to such reductions as may from time to time be made in the indebtedness of the City and School Trustees to holders of debentures, to the Canadian Bank of Commerce and the Royal Bank of Canada, at a rate not to exceed three (3) per cent. per annum for the term commencing the first day of January, 1928, and ending the thirty-first day of December, 1932, and at a rate not to exceed three and one-half (32) per cent. per annum for the term commencing the first day of January, 1933 and ending the thirty-first day of December, 1937, and to be such as in the opinion of the Supervisors is within the reasonable ability of the City to pay, making all due allowance for the cost of collection and for the abatement of taxes and for taxes which may not be collected. Provided however that in the event of the levy for interest in any year being insufficient to pay interest at the rate fixed by this agreement then such deficiency shall be levied for in the first succeeding year in which in the opinion of the Supervisors the City has |