Buffalo and Fort Erie Public Bridge Company Act

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Sections30

• 1Company may acquire and manage property and assets
• 1(1)

  Subject to the provisions of this Act, the Buffalo and Fort Erie Public Bridge Authority, created by the Act of Incorporation (hereinafter called “the Bridge Authority”), is hereby authorized and empowered to acquire, hold and manage the property and assets within Canada of the Buffalo and Fort Erie Public Bridge Company.

• 1(2)Transfer

  Subject to the provisions of section eleven of this Act the Buffalo and Fort Erie Public Bridge Company is hereby authorized and empowered to transfer and convey to the Bridge Authority all of its property and assets within Canada.

• 2Members not employees of His Majesty

  Nothing in this Act shall be deemed to have effect to give the members, officers or employees of the Bridge Authority the status of officers or employees of His Majesty.

• 3Appointment of Canadian members
• 3(1)

  The Governor in Council may appoint, to hold office during pleasure, five persons, being Canadian citizens resident in Canada, to be the members of the Bridge Authority that under the provisions of the Act of Incorporation are to be appointed by Canada.

• 3(2)Deputies

  A member of the Bridge Authority appointed under subsection (1) may, with the approval of the Minister of Transport, appoint a deputy in writing to attend any meeting of the Bridge Authority and to act and vote in the member’s place.

• 4Attorney to be appointed
• 4(1)

  The Bridge Authority shall, within sixty days from the passing of this Act, by resolution appoint a person resident in the county of Welland, in the province of Ontario, its attorney to receive service of process in all suits and proceedings instituted in Canada against the Bridge Authority.

• 4(2)Certified copy

  The Bridge Authority shall cause a certified copy of such resolution to be filed forthwith after the adoption thereof, in the office of the Secretary of State of Canada.

• 5Powers of Bridge Authority

  The Bridge Authority is hereby authorized and empowered, subject to the provisions of this Act, to exercise its powers and,

• 5(a)R.S., c. 170

  To maintain and operate the property acquired or held by it, and subject to the provisions of the Railway Act, charge tolls in respect thereof;

• 5(b)

  To sue and be sued;

• 5(c)

  subject to the terms, conditions and restrictions set forth in its Act of Incorporation, to issue, sell or exchange from time to time its negotiable bonds in the aggregate principal amount not exceeding at any one time one hundred million dollars or such greater amount as the Governor in Council, on the recommendation of the Minister of Transport and with the concurrence of the Minister of Finance, may fix;

• 5(d)

  To secure such negotiable bonds by mortgage, charge or pledge of property and assets acquired and held by it, including the tolls and revenues arising therefrom; and

• 5(e)

  To apply the proceeds of any such bonds in the manner and for the purposes provided by its Act of Incorporation.

• 6Bonds

  The bonds and other obligations of the Bridge Authority shall not be a debt of the Dominion of Canada, nor shall the Dominion of Canada be liable thereon.

• 7Default

  In the event of default being made under any bonds issued by the Bridge Authority, the Trustee for the bondholders shall, with respect to the property and assets within Canada constituting the security, or a part thereof, for the said bonds, have in addition to such remedies as may otherwise be available to him, all remedies available to a mortgagee under the laws of the province of Ontario.

• 8Notice to the Attorney General
• 8(1)

  The remedies of the bondholders and the trustee provided in the Act of Incorporation of the Bridge Authority or under this Act, are subject to the limitation that, before taking any proceeding to enforce such remedies, or any of them, the Trustee shall first give notice in writing to the Attorney General of Canada; and if when such notice is given to the said Attorney General, Parliament shall be in session, the Trustee shall not declare the principal of the bonds due before Parliament prorogues, provided, however, that Parliament has been in session for at least four weeks after notification shall have been given to the Attorney General as aforesaid.

• 8(2)When principal of bonds to be declared due

  If Parliament be not then in session, or has not been in session for at least four weeks after notification shall have been given to the Attorney General as aforesaid, the Trustee shall not declare the principal of the bonds due until the next regular session of Parliament is ended by prorogation.

• 8(3)Default remedied

  If at any session of Parliament referred to in subsections one and two of this section, Parliament shall take any action as a result of which past due principal and interest, with interest on past due interest, together with fees, counsel fees and expenses of the trustee and of the receiver, if any, as fixed by the Court of competent jurisdiction shall be paid within sixty days after prorogation, default in the payment thereof shall thereby be remedied.

• 9Minister of Transport

  Except as otherwise provided in this Act, the Minister of Transport, or a person designated by that Minister, is the authority or agency that under any provision of the Act of Incorporation is to be designated by Canada.

• 10Termination of rights, powers, etc.

  On the later of the following days, namely, the rights, powers and jurisdiction of the Bridge Authority under this Act are terminated, and the property acquired or held by it within Canada becomes the property of Her Majesty in right of Canada, to be held, administered or disposed of as the Governor in Council may direct.

• 10(a)

  the 1st day of July, 2020, or

• 10(b)

  the day that any bonds issued by the Bridge Authority prior to the 1st day of July, 2020, are paid in full or are otherwise discharged,

• 11Bridge Authority to be subject to assessment and taxation

  Nothing herein contained shall in any way affect, prejudice, limit, or alter any right or interest in respect of provincial or municipal assessment and taxation, or deprive the province of Ontario or any municipality thereof of the right to assess and tax the real property within Canada of the Buffalo and Fort Erie Public Bridge Company, or of the Bridge Authority and the said real property acquired, held or managed by the Bridge Authority, and the Bridge Authority itself, shall be subject to assessment and taxation.

• 12Jurisdiction and control of Niagara Parks Commission

  Notwithstanding anything in this Act contained, the jurisdiction and control of the Niagara Parks Commission in respect to the matters placed under its jurisdiction and control by virtue of chapter eighty-one of the Revised Statutes of Ontario, 1927, shall continue the same as if this Act had not been passed.

• 13Money paid to Canada

  Any money payable to the Government of Canada under the Act of Incorporation shall be paid to the Minister of Transport and shall form part of the Consolidated Revenue Fund.

• 14Reference to “Act of Incorporation”

  A reference in this Act to the Act of Incorporation shall be construed as a reference to the Act of Incorporation as amended from time to time.