THE BURLINGTON CANAL ACT
From
Statutes of Upper Canada
Third Session - Eight Provincial Parliment
1823
Chap. VIII
An Act to Provide for Constructing a Navigable Canal between Burlington Bay and Lake Ontario.
Passed 19th March, 1823
Whereas a Canal navigable for Vessels between Burlington Bay in the District of Gore, and Lake Ontario, would tend to promote the general interest of this Province, and particularly that part of the Country contiguous thereto: And whereas it is expedient to raise a sum of money by way of Loan to make and complete the said Canal, the annual interest on which to be paid from a fund to be raised and collected by a Toll to be levied on Goods, Produce, and all other articles as well as Vessels and other craft passing in or through the same, and also to establish a fund for the redemption of the said Loan, Be it therefore enacted by the King's Most Excellent Majesty, by and with the advice and consent of the Legislative Council and Assembly of the Province of Upper Canada, consituted and assembled by virtue of and under the authority of an Act passed in the Parliament of Great Britian, entituled "An Act to repeal certain parts of an Act passed in the fourteenth year of His Majesty's Reign, entituled "An Act for making more effectual provision for the Government of the Province of Quebec, in North America, and to make further Provision for the Government of the said Province, " " and by the authority of the same, That it shall and may be lawful for the Governor, Lieutenant Governor, or Person administering the Government of this Province, so soon after the passing of this Act as he may deem expedient, to authorise and direct His majesty's persons, bodies corporate or politic, who may be willing to advance the same upon the credit of the Goverment Bills or Debentures, authorised to be issued under this Act, a sum of money not exceeding Five Thousand Pounds, to make and complete the said Canal, and also such works as may be deemed necessary to protect and secure the entrance thereof, as well from Burlington Bay as from Lake Ontario.
II. And be it further enacted by the authority aforesaid, That it shall and may be lawful for the Receiver General for the time being, to cause any number of debentures to be made out for any such sum or sums of money, not exceeding in the whole the said sum of Five Thousand Pounds, as any person or persons, body politic or corporate, shall agree to advance on the credit of the said debentures, which debentures shall be prepared and made out in such method and form as His Majesty's Receiver General shall think most safe and convenient, and that for each loan or advance a debenture shall issue, bearing date at the day on which the same shall actually be issued, conditioned for the payment of the said sum of Five Thousand Pounds, or such part thereof as may be actually received and redeemable at a period not exceeding sixteen years, and shall and may be signed by the said Receiver General of this Province for the time being.
III. And be it further enacted by the authority aforesaid, That if any person or persons shall forge or counterfeit any such debenture as aforesaid, which shall be issued under the authority of this Act, and uncancelled, or any stamp, indorsement, or writing thereon or therein, or tender in payment any such forged debenture, or any debenture with such counterfeit indorsement or writing thereon, or shall demand to have any such counterfeit debenture, or any debenture with such counterfeit indorsement or writing thereupon or therein, exchanged for ready money be any person or persons who shall be obliged and required to exchange the same, or by any other person or persons whomsoever, knowing the debenture so tendered in payment, or to be exchanged, or the indorsement or writing thereupon or therein to be forged or counterfeited with intent to defraud His Majesty, His Heirs and Successors, or the persons appointed to pay off the same, or any of them, or any other person or persons, bodies politic or corporate, then every such person or persons so offending, being thereof lawfully convicted, shall be adjudged a felon, and shall suffer as in cases of felon, without benefit of Clergy.
IV. And be it further enacted by the authority aforesaid, That the Receiver General of this Province for the time being, shall before each Session of the Parliament of this Province, transmit to the Governor, Lieutenant Governor, or Person administering the Government of this Province, a correct account of the numbers, amount , and dates of the different debentures which he may have issued, under the authority of this Act, of the amount of the debentures redeemed by him, and the interest paid thereon respectively, and also of the amount of the said debentures outstanding and unredeemed at the periods aforesaid, and of the expences attending the issuing the same, the periods aforesaid, and of the expences attending the issuing the same, to be laid before the Legislature of this Province.
V. And be it further enacted by the authority aforesaid, That the interest growing due upon the said debentures shall and may be payable in half yearly periods to be computed from the date thereof, and shall and may be paid on demand by the Receiver General of this Provence for the time being, who shall take care to have the same indorsed on each debenture, at the time of payment thereof, expressing the period up to which the said interest shall have been paid, and shall take receipts for the same from the persons respectively, and that the Governor, Lieutenant Governor or Person administering the Government of this Province shall, after the thirtieth day of June, and the thirty-first day of December in each year, issue warrants to the Receiver General for the payment of the amount of interest that shall have been advanced, according to the receipts to be by him taken as aforesaid.
VI. And be it further enacted by the authority aforesaid, that the Receiver General of this Province, and the person or persons necessarily employed under him in the execution of this Act, shall severally have and receive such rewards and allowances as the Governor, Lieutenant Governor, or Person administering the Government of this Province, and the Executive Council thereof, shall adjudge to be reasonable, and direct to be allowed them for their respective services in the execution of this Act, and that the same shall be paid in discharge of such warrant or warrants, as the Governor, Lieutenant Governor, or Person administering the government of the Province shall from time to time issue for that purpose.
VII. And be it further enacted by the authority aforesaid, That a separate warrant shall be made to the Receiver General, by the Governor, Lieutenant Governor, or Person administering the Government of this Province for the time being, for the payment of each debenture as the same may become due, and be presented in favour of the lawful holder thereof, and come due, and be presented in favour of the lawful holder thereof, and that such debentures as shall from time to time be discharged and paid off shall be cancel and made void by the said Receiver General.
Viii. And be it further enacted by the authority aforesaid, That at any time after the said debentures, or any of them, shall respectively become due according to the terms thereof, it shall and may be lawful for the Governor, Lieutenant Governor, or Person administering the Government of the Province, if he thinks proper so to do, to direct a notice to be inserted in the Upper Canada Gazette, requiring all holders of said debentures to present said notice for three months, and debenture then payable shall remain out more than six months from the first publication of such notice, all interest on such debentures, after the expiration of the said six months shall cease and be no further payable, in respect of the time which may elapse between the expiration of the said six months, and their presentment for payment.