This legislation has been repealed.
The Board may raise
moneys by way of mortgage of the lands under its control, or any part thereof,
for the purpose of improving such lands; subject to the following
conditions: —
(a) The
amount of money to be borrowed, the several works proposed to be executed, and
the amount proposed to be expended upon each of such works shall be first
approved by a majority of two-thirds of all the members of the Board;
(b) A
statement in writing setting out the above particulars, and a memorandum of
the consent of the Board, signed by the Chairman thereof, shall be forwarded
to the Registrar for the approval of the Governor in Council;
(c) The
consent of at least three-fourths in number of the societies and branches
represented on the Board shall be obtained, signified by a majority of the
votes of the members of each such society or branch present and entitled to
vote at a special meeting of the same called for that purpose, and
communicated to the Board to the effect in Form No. 51 annexed hereto,
and a memorandum thereof shall be sent to the Registrar by the Board in Form
No. 52 annexed hereto, accompanied by the consents in Form No. 51
received from the societies and branches. [S. 45 and S. 47 (1, n).]
BOARD ACCOUNTS