part of the municipality, with all the requirements of this or any other Act in respect to the passing of such by-laws, and the issue of debentures thereunder, as well as proof of the substantial correctness of all the material averments in any such by-law; and if such judge is satisfied upon the evidence given and the proceedings taken before him that the provisions of the law in respect to such by-law have been substantially complied with and that there has been no undue or improper means or influence used in order to procure the passage of the by-law and that it was in all respects legally and properly passed at a meeting of the council of the municipality appointed and held for the purpose, he shall so certify in manner hereinafter mentioned. proofs to 140. Upon the submission of said by-law and proofs to Submission of such judge, the clerk of the municipality shall cause to be pub- Judge, and lished in the same manner in which the notice of submission notice. of said by-law to a vote had been previously given, a notice to the following effect:-"Take notice that a by-law to authorize a loan of $ for the purpose of aiding in the railway, construction of the proposed that the proofs of the due passing of the said by-law and of day of (naming any juridical day after the last publication of the notice.) legality of made. 141. At any time or times that said judge may appoint, after Objections to the receipt by him of such certified copy of by-law and proofs, by-law, how and before the day named in the notice mentioned in the last preceding section when said certificate might be applied for, any ratepayer of the municipality may offer evidence in writing, under oath or affirmation, as to the non-compliance by or on behalf of the municipality with the requirements of the statute at or preliminary to the passing of such by-law, or as to undue or improper means or influence having been used in order to promote or secure the passage of said by-law, and if the said judge, after examining said proofs and evidence, and fuse certificate such other proof or evidence on either side as he may consider it advisable and proper to ask for and receive, shall be of opinion that the said requirements of the law had not been substantially complied with in reference to the passage of such by-law as aforesaid, or that undue or improper means or inJudge may re- fluence had been used as aforesaid at any stage of the proceedon evidence of ings to an extent that the passage of said by-law had, in the influence, etc. opinion of said judge, been thereby secured, the said judge shall refuse his certificate and report the grounds of his refusal to the clerk of the municipality for the information of his council; and the said by-law and the debentures that may be issued thereunder, if any, shall therefore be in the same position as if the provisions of this Act allowing such refence to the judge had not been passed. improper Proceedings, how entitled, If by-law properly passed, Judge to so certify. Statement endorsed on debentures. of ," and need not be 142. The proceedings to legalize or oppose the by-law may be entitled "In the matter of by-law No the Municipality of entitled in any court. 143. If the said judge shall be of opinion that the said bylaw had been duly and properly passed, he shall so certify to the said municipal council through its said clerk and shall transmit the copy of said by-law with a duplicate of said certificate endorsed thereon or thereto attached together with the proofs and evidence filed on the said application or submission to the provincial secretary, and the said provincial secretary, at any time within six months after the receipt of said copy of by-law and certificate, shall, on the application of said municipality, sign the following endorsement on any debenture or debentures issued by said municipality under the authority of said by-law: "Total amount of the present debt of the Municipality of including that incurred under the within mentioned By-law No. is (18 dollars. The total amount of debt incurred during the last year ) is dollars. The assessed value of real and personal property of the municipality according to the last revised assessment roll is dollars. The rate in the dollar required to be levied for general purposes as last provided for is and for interest and sinking fund on account of all other indebtedness is The total present rate for all purposes is the dollar, on The sinking fund formed for the purpose of paying all such indebtedness and now held under investment or to the credit of the municipality amounts to dollars. The interest in arrears and past due on the existing debenture debt of the municipality amounts to dollars. The number of ratepayers on the last revised tax roll of the municipality is P. S. This debenture is issued under the provisions of "The Muni- Certificate of cipalities Act, 1883," of the Province of Manitoba, 46 and 47 Victoria, chapter One. SEAL } } Provincial Secretary. ficate of Pro 144. The said endorsement signed by the said Provincial Effect of certiSecretary and sealed with the seal of the said Province shall vincial Sec'y. render the debenture on which it is made an absolute and indefeasable security to the lawful holder thereof for the amount of such debenture and the interest, if any, made payable thereon, as against the municipality issuing the same, and shall be absolute proof that said by-law has been legally passed and said debentures properly issued thereunder, and it shall not be competent for such municipality, or any ratepayer thereof, or any other person whatsoever to question the validity of any debenture bearing said endorsement, or of any by-law under the authority of which the same had been issued, in any court of this Province. mission of by publication of 145. The municipality by which said by-law had been sub- Costs of submitted to the judge as aforesaid shall pay the cost of publica- law to Judge, tion of the notice of such submission; and the said judge shall notice, etc. be entitled to demand and receive from the municipality, for examining said by-law and proofs and making such certificate or report refusing the same, in uncontested cases, a fee of ten dollars; and where the due passage or validity of said by-law is questioned as aforesaid he shall be entitled to demand and receive a further sum of ten dollars, as a hearing fee on said contestation, to be paid by the contestant or the municipality according to the result; and any person or persons opposing the confirmation of any such by-law as aforesaid shall, upon filing an affidavit, declaration or affirmation in opposition to such confirmation, deposit the said sum of ten dollars in pay Costs where affirmance of by-law opposed. Registration of Accounts of debenture rates to be kept. If a surplus levied, how disposed of. Lt. Gov. may order how surplus to be applied. ment of such fee in case the said contestant shall fail in his application; and in case he shall succeed, the said amount shall be returned to him, and the said additional fee shall be payable by the municipality as aforesaid. 146. In case of the affirmance of any by-law being opposed as aforesaid the said judge may allow such a sum for the costs of opposing or upholding such application as he shall think reasonable and proper and may give a certificate to the party he may consider entitled to said costs, stating the amount and the person or municipality by which, in his opinion, the same should be paid, and the party or corporation to whom or to which such certificate shall be given shall be entitled to recover the amount thereof as a debt, of which the said certificate shall be prima facie evidence in any court of competent jurisdiction; provided, however, that no such certificate for costs shall be given against any person or persons or corporation who has not had due and reasonable notice of the proceedings before said judge and, in the opinion of said judge, a fair opportunity of refuting any charge of illegal or improper conduct in connection with the passing of said by-law. 147. The provisions of chapter 24 of 44 Victoria, intituled "An Act respecting the Registration of Debentures," shall not apply to any by-law certified to by a judge under the foregoing sections of this Act or to the debentures issued thereunder. 148. The council of every municipality shall keep in its books two separate accounts, one for the special rate and one for the sinking fund or for instalments of principal of every debt, to be both distinguished from all other accounts in the books by some prefix distinguishing the purposes for which the debt was contracted and shall keep the said accounts, with any other that are necessary, so as to exhibit at all times the state of every debt and the amount of money raised, obtained and appropriated for payment thereof. 149. If, after paying the interest of a debt and appropriating the necessary sum to the sinking fund of such debt, or in augmenting any instalment of the principal for any financial year, there is a surplus at the credit of the special rate account of such debt, such surplus shall remain and may be applied, if necessary, towards the payment of the next year's interest, but if such surplus exceeds the amount of the next year's interest, the excess shall be carried to the credit of the sinking fund account or in payment of principal of such debt. 150. The Lieutenant-Governor may, by order in council, direct that such part of the produce of the special rate levied and at the credit of the sinking fund account or of the special rate account as aforesaid, instead of being invested as herein after provided shall, from time to time, as the same accrues, be applied to the payment or redemption of any such debt or any part of the debentures representing or constituting such debt, or any part of it, and the municipal council shall thereupon apply such part of the produce of the special rate at the credit of the sinking fund or special rate accounts as so directed, unless it can be shown to the satisfaction of the said Lieutenant-Governor in Council that such payment or redemption cannot be effected as required without unnecessary loss to the municipality. Government 151. If any part of the produce of the special rate levied Investment in in respect of any debt and at the credit of the sinking fund securities, etc. account, or of the special rate account thereof, cannot be immediately applied towards paying the debt, by reason of no part thereof being yet payable, the municipal council shall from time to time invest in government securities, or otherwise as the Lieutenant-Governor in Council may direct or sanction. etc., to be sign and sealed. 152. All debentures and other specialties duly anthorized Debentures, to be executed on behalf of the corporation, shall, unless other-ed by head of wise specially authorized or provided, be sealed with the seal corporation of the corporation, and signed by the mayor, reeve, or by some other person authorized by by-law to sign the same, otherwise the same shall not be valid. by delivery. 153. Any debenture issued under the formalities required by Transferable law, by the corporation, payable to bearer or to any person named therein as bearer, may be transferred by delivery; and such transfer shall vest the property in such debenture in the holder thereof, and enable him to maintain an action thereupon in his own name. standing a sale 154. Every such debenture, issued as aforesaid, shall be Valid not withvalid and recoverable to the full amount, notwithstanding its under par, etc. negotiation by such corporation at a rate less than par, or at a rate of interest greater than six per centum per annum. municipality porated as a 155. This Act shall not prevent any portion of any muni- Portion of a cipality from becoming incorporated as a town under the pro- may be incorvisions of The Manitoba Town Corporations Act, and where town. any such portion shall become so incorporated, it shall cease to be a portion of the municipality in which it lies, but such town shall pay its just share or proportion of all liabilities incurred by the municipality before such separation, according as the same shall then appear by the last revised assessment roll. refusing to act 156. Any mayor, reeve or councillor refusing to act, after Mayor, etc., having been duly elected, shall thereby incur a penalty of forty liable to penalty. |