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04 MUNKIFAI. LAW,
Tio action shall In- br<)ii<,'lit fur one inonth after such 1)y-lnw, order, or roHO-
lutioii has ht^i'ii (|uasho(l or rcpwiU'd, nor until after ono month's notice in
writing has been f^iveii to the corporation of the intention to bring such
action. 'I'he action nnist be Ho;ainst the corporation and not ajjainst any
person actint^ under the by-law.
'i'i'7. Costs of Action. If the ('orj)oration tenders anu-tuls to the
plaintitr or his .solicitor, and sucli tender is pleaded and proved, and if no
Vl
more than the sum ti'udered is awardeii the plaintiff will no^ recover any
costs.
HY-J.AWS CUKATINCJ DEIVKS.
JMery Municipal Council may pass by-laws for contracting debts for
anything within its jurisdiction, and for levying rates for the payment
thereof.
'i'iH. When They Take Effect. The time when a by-law is to take
effect (if not creating a debt for the purchase of public works) must be
named in the by-law, or it will take etiect on the day of the pa.ssing
thereof.
'ili^. When to be Redeemed. If a <U'V)t is contracted for gas or
water works, railways, harbor imi)rovements, or other public works, or the
construction of sewers, purchase and improvenunit of parks, or erection of
school -hou.ses, or for electric light works in towns having a po))ulation of
five thousand or under, the debt shall be made payable in thirty years at
furthest from the day on which the by-law takes effect : but if the debt i&
not contracted for .sticb purposes it shall be made pa^'able in twenty years
at furthest from the day on which the by-law takes effect.
'iHii. Yearly Rate. The by-law shall name a certain spi'' ac .sUi
be raised amuuilly for the payment of interest: and aN" n sum on
account of principal, which being invested will, with t .111 (1 i uteres'
therefor, at not more than 4 per cent., will be sutHcii ili.scharge tl
debt at maturity. Such annual rate nuist begin from date '\hen the
debentures are directed to be i.s.sued. This does not efl'eiL by-' vv passed
before July 1st, 1897.
fJHi. When Debentures are to be Issued. The debentures may
be i.s.sued all at one time and must be within a year after the passing of
the by-law, or the by-law may provide for them to be issued in instalments,
in which case, the first instalment must be within one year and the wliole
within five years after the passing of the by-law.
tH't. Special Rate. The by-law shall also provide that such annual
sum shall be levied by a special rate on all the ratable property withiu
the municipality'. If the by-law is for a work payable by local assessment,
tlien the sum to be levied on such property oiily as is ratable under the
by-law or per foot frontage, as the case may be.