Borrowing Money. 29. It shall be lawful for the Board, after receiving the consent Borrowing-powers. of the Lieutenant-Governor in Council, for the purposes mentioned in this Act, and it is hereby empowered to borrow an amount not exceeding ten million five hundred thousand dollars for a term not exceeding forty years. The sum of five million dollars may be borrowed at such time as to the Board may seem proper, and the sum of five million five hundred thousand dollars not sooner than three years after the passing of this Act, or such earlier time as the Lieutenant-Governor in Council may determine. Such loans shall be upon the credit of and shall constitute an indebtedness of the municipalities affected by this Act in proportion to the amount expended or to be expended on their behalf, notwithstanding the provisions of any Act limiting the amount of indebtedness that may be incurred by said municipalities; and in calculating or arriving at the amount of any such last-mentioned indebtedness no such loan shall be included or calculated therein. moneys borrowed. 30. The Board may issue bonds, debentures, debenture stock, or Securities for other securities approved by the Lieutenant-Governor in Council for the purpose of securing said loans (hereinafter referred to as "securities "), with interest coupons attached, bearing interest at a rate not exceeding four per cent., payable on the first days of March and September of each year. Said securities shall be made payable, and when due shall be paid, in gold coin or its equivalent, and shall be designated on the face thereof as the "Burrard Peninsula Joint Sewerage Loan "; and the same may be sold and disposed of at public auction or in such other mode or at such times and prices, and in such amounts, and at such rates of interest, not exceeding four per cent. per annum, as to the said Board shall seem meet. 31. The Board shall, on issuing any of such securities, apportion Apportionment. thereto from year to year an amount sufficient with its accumulation of interest to extinguish the debt at maturity; but any such apportionment or assessment shall be at the rate of one-eightieth part of the whole amount in each of the first ten years, one-sixtieth part in each of the second ten years, one-thirtieth part in each of the third ten years, and the remainder equally divided in the next ten years. premiums obtained 32. Any premium or premiums that may be realized on the sale Application of of any such securities shall be applied to the payment of the interest on sale of securities. on said loan as it accrues. Government Guarantee. 33. The Province of British Columbia may guarantee, in the Guarantee by Provmanner that may from time to time be prescribed by the Lieutenant- $5,000,000 of prin ince of interest and cipal of securities. Governor in Council, all the interest upon said securities and the principal of said securities to the amount of five million dollars when and as issued, and when so guaranteed the securities shall be delivered to the Canadian Bank of Commerce or such other bank as the Government may approve of, to be by the bank delivered on the order of the Board from time to time to the purchaser or pledgees thereof upon the moneys realized by sale, pledge, or otherwise being paid directly by the purchaser, subscriber, pledgee, or lender into the said bank, or into the Bank of Scotland, or Lloyds Bank, or such other bank or banks, as the case may be, or as the Government may approve, to the credit of a special account or accounts in the name of the Minister of Finance of the Province of British Columbia: Provided that if money be borrowed by the Board upon pledge or otherwise upon any such securities prior to the sale thereof, and be paid in to the credit of such account or accounts as aforesaid, the amounts paid in shall be deducted from the purchase price subsequently received from the securities so borrowed upon, and the balance only shall be paid. 34. The balances at the credit of the said special account or accounts shall be credited with interest at such time and at such rate as may be agreed upon between the Board and the bank holding the same, and the said balances shall from time to time be transferred to the Board in monthly payments, as far as practicable, as the construction of the works authorized by this Act is proceeded with to the satisfaction of the Government; and from time to time as the construction of said works is proceeded with, the Government, by the Minister of Finance or other duly appointed representative of the Government, shall, out of the said balances, certify to the bank the amount to be transferred from the said account to the credit of the Board or its nominees, having regard to the proportion of work done and material and supplies purchased for said works. Annual Estimates. 35. The Board shall, on or before the first day of February in each year, cause to be prepared and laid before the Council of each municipality in the sewerage district a detailed estimate of the sums required from the municipality by the Board for the expenses of the Board during the year, and including the expense of maintaining and operating the sewerage system, and of the amount required from the municipality to meet its proportion of interest on loans,. and of its proportion of the sum required to provide a sinking fund for payment of the said loans; and it shall be the duty of the Council of each municipality to cause the said sums so required by the Board to be levied and collected in the same way as school rates are levied and collected upon the requisition of School Boards. All moneys: received by the municipality from such rates shall be paid to the Finance Minister of the Province of British Columbia. The Finance Minister shall retain the proportion of said sums so received required for interest and sinking fund, and the balance shall be paid by him to the Board. Appeal. 36. If at any time any differences arise between the Board and Appeal. any of the municipalities within the sewerage district, or if a munici pality is dissatisfied with any decision of the Board regarding the carrying-out of the general scheme of this Act, or with the allotment or apportionment of moneys to be paid by the municipality, an appeal shall lie to the Lieutenant-Governor in Council, whose decision thereon shall be final and binding. Notice of appeal shall be given one month after the date of such decision or allotment or apportionment. Accounts. 37. (1.) The Board shall at all times keep accurate and complete Accounts to be kept. accounts of its receipts, expenditures, assets, and liabilities, and shall include an abstract of the same in its annual report. and accounts. (2.) The accounts and books of the Board shall be at all Inspection of books reasonable times open to inspection by any of the municipalities in the sewerage district, by the Auditor-General, or by any person. appointed by the Lieutenant-Governor in Council. 38. All salaries paid to the chairman and members of the said Board and to its clerk, treasurer, engineer, or any of its officials, agents, or servants, and all costs, charges, and expenses which shall be in any way incurred in the carrying-out of the provisions of this Act and of the preliminary expenses incurred by the municipalities, shall be paid out of the moneys of the Board in the same way as if the same were being paid in the actual construction of any works; the proportion to be borne by each municipality shall be determined by the Board, subject to appeal as aforesaid. Failure of Municipality to recommend Appointments. 39. In the event of any municipality failing to recommend for appointment its member of the Board for the space of sixty days after the coming into force of this Act, or in the event of a vacancy remaining unfilled for the space of sixty days after the same takes place, it shall be lawful for the Lieutenant-Governor in Council to appoint a member for the municipality so failing to make such recommendation. Failure to appoint. Salaries and other deemed part of cost works. expenses to be of constructing Failure of munici appointments. pality to recommend effect of. 40. The failure to make an appointment or to fill a vacancy by Failure to appoint, the Lieutenant-Governor in Council shall not render any act of the Board invalid, so long as the same has been constituted by two members and the chairman. Application of Act. Commencement. Application of Act. 41. This Act shall not apply to or include that part of the Municipality of Burnaby consisting of eight hundred acres or thereabouts now included in a joint scheme for sewerage purposes with the City of New Westminster. 42. This Act shall come into force on Proclamation. VICTORIA, B.C.: Printed by WILLIAM H. CULLIN, Printer to the King's Most Excellent Majesty. An Act further to amend the Cemetery Ordinance, R.L.B.C. No. 141, 1870." 1879, c. 6. [1st March, 1913.] THEREAS by the "Cemetery Ordinance Amendment Act, 1879," Preamble. W being chapter 6 of the Statutes of 1879, certain parcels of land described in section 2 of said chapter 6 as "parcels 31, 32, and 33" were vested in the Corporation of the City of Victoria and their successors, in trust for the purposes of a public park: And whereas the Municipal Council of the said corporation has requested that said chapter 6 be so amended as to vest the title to that portion of said parcel 31, which is comprised within the boundaries hereinafter described, in His Majesty the King in right of his Dominion of Canada for the purpose of enabling the Dominion Government to carry out its scheme of harbour improvement and other public works at the City of Victoria: Therefore, His Majesty, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows: 1. This Act may be cited as the "Cemetery Ordinance Amend- Short title. ment Act, 1913." Council may convey ment. 2. Notwithstanding anything contained in section 2 of the "Ceme- Lieut.-Governor in tery Ordinance Amendment Act, 1879," it shall be lawful for the to Dominion GovernLieutenant-Governor in Council, by Order in Council, which shall set forth in general terms the harbour improvements and other public works to be made and carried out by the Dominion Government at the City of Victoria, to convey to His Majesty the King in right of his Dominion of Canada all that certain land and property situate, lying, and being in the City of Victoria, British Columbia, bounded as follows: Commencing at a point at high-water mark which is Description of land. |