Canadian National Montreal Terminals Act, 1929

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Sections22

• 1Short title

  This Act may be cited as the Canadian National Montreal Terminals Act, 1929.

• 2Power to construct and complete works described in schedule

  The Governor in Council may provide for the construction and completion by the Canadian National Railway Company (hereinafter called “the Company”) of terminal stations and offices, local stations, station grounds, yards, tracks, terminal facilities, power houses, pipes, wires and conduits for any purpose, bridges, viaducts, tunnels, subways, branch and connecting lines and tracks, buildings and structures of every description and for any purpose, and improvements, works, plant, apparatus and appliances for the movement, handling or convenient accommodation of every kind of traffic, also street and highway diversions and widenings, new streets and highways, subway and overhead streets, and also approaches, lanes, alleyways, and other means of passage, with the right to acquire or to take under the provisions of section nine of this Act or otherwise lands and interests in lands for all su…

• 3Issue of securities and guarantee thereof

  Subject to the provisions of this Act, the Company may issue notes, obligations, bonds and other securities (hereinafter called “securities”) in respect of the construction and completion of the said works, and the Governor in Council may authorize the guarantee of the principal and interest of such securities to an amount not exceeding fifty million dollars ($50,000,000). The Company shall not, without the approval of the Governor in Council, spend upon the said works more than ten million dollars ($10,000,000) per annum.

• 4Nature and form of securities
• 4(1)

  With respect to such securities, the Governor in Council may, subject to the provisions of this Act, from time to time approve or decide,

• 4(1)(a)

  the kind of securities to be issued and guaranteed, and the form and terms thereof;

• 4(1)(b)

  the form and manner of the guarantee or guarantees;

• 4(1)(c)

  the times, manner and amount of the issue or issues;

• 4(1)(d)

  the terms and conditions of any sale, pledge or other disposition of the securities;

• 4(1)(e)

  the securing, if deemed desirable by the Governor in Council, of the securities by mortgage, deed of trust or other instrument, and the form and terms of any such indenture, and the trustee or trustees thereof.

• 4(2)Guarantee

  The guarantee or guarantees may be signed on behalf of His Majesty by the Minister of Finance or by such other person as the Governor in Council may from time to time designate, and such signature shall be conclusive evidence for all purposes of the validity of such guarantee and that the provisions of this Act have been complied with.

• 5Tenders
• 5(1)

  The Company shall adopt the principle of competitive bids or tenders in respect of, but the Company shall not, subject to the provisions of paragraph (d) of section four of this Act, be bound to accept either the highest or lowest or any bid or tender made or obtained, nor be precluded from negotiating for better prices or terms.

• 5(1)(a)

  the construction and completion of the said works in so far as the Company decides not to perform such works or any part thereof with its own forces;

• 5(1)(b)

  the sale of the securities;

• 5(2)Temporary financing

  This section shall not apply to temporary financing in whole or in part by way of pledge or otherwise of the securities, either in permanent or temporary form, where the Governor in Council approves such temporary financing and the terms thereof.

• 6Proceeds of securities deposited to credit of Minister of Finance in trust for Company Works may be constructed on property of companies comprised in Canadian National Railways

  The proceeds of any sale, pledge or other disposition of the securities shall be deposited in a bank or banks in a fund to the credit of the Minister of Finance in trust for the Company, and shall from time to time be released to the Company by the Minister of Finance in his discretion, to be applied in meeting expenditures made or indebtedness incurred in connection with the said works. The proceeds also of any sales of lands acquired by the Company or taken by His Majesty under section nine of this Act for the said works and not abandoned nor required for such purposes and contributions made toward the cost of the said works under section eight of this Act or from any other source shall be deposited to the credit of the said Minister and shall by him be similarly released. The cost of financing or temporary financing, including interest and discounts, shall be deemed to be part of the …

• 7Approval of plans

  The general plan or plans of the said works and amendments or additions to such general plan at any time made, shall, on the recommendation of the Minister of Railways and Canals, be subject to the approval of the Governor in Council. Detail plans affecting any canal or other property controlled by the Department of Railways and Canals shall be subject to the approval of the Minister of Railways and Canals. Detail plans affecting the property of the Harbour Commissioners of Montreal shall be subject to the approval of the Minister of Marine and Fisheries.

• 8Agreements with municipalities

  Where streets or highways are affected by the said works but are not crossed by the Company’s tracks or diverted incidental to any such crossing and by reason thereof the Board of Railway Commissioners for Canada has no jurisdiction under the Railway Act with respect thereto, the Company may with the approval of the Governor in Council enter into agreements, where it may be desirable, with the City of Montreal or with any other municipality with respect to such streets or highways or with respect to the opening of new streets, the closing of existing streets and ways, the making of diversions or widenings of such streets or highways, and the making of substreets, subways or overhead facilities in connection with such streets or highways, and the apportionment of the cost thereof.

• *9Expropriation R.S., c. 64

  Certain expropriation plans and descriptions heretofore deposited, under the Expropriation Act, by or on behalf of the Minister of Railways and Canals for the purposes of the Government Railways having vested in His Majesty lands now required for part of the said works, other plans and descriptions showing lands or interests in lands required or taken from time to time in connection with the said works may be deposited by or on behalf of the said Minister under the Expropriation Act. The compensation to be paid in respect of any such taking, subject to the usual right of abandonment as provided in the Expropriation Act, may be paid out of the trust funds deposited to the credit of the Minister of Finance under section six of this Act, and upon such payment the lands or interests in lands thereby taken or vested in His Majesty shall upon request be transferred by His Majesty to the Compan…

• 10Authority to make leases, etc.

  The Company and/or any Company comprised in the Canadian National Railways owning lands or interest in lands in connection with the said works may from time to time make leases, agreements or contracts for sale of aerial rights (so called), that is, of the right or rights to erect, own, occupy, use or enjoy buildings or structures over the track elevation or above the area required or reserved for railway facilities on the said works, and may in like manner where viaducts or overhead tracks are constructed, make leases, agreements or contracts in respect of the area not required for railway facilities above or below the track level.

• 11Statement to Parliament

  The Minister of Railways and Canals shall present to Parliament during the first thirty days of each session held prior to the completion of the said works a statement showing with reasonable detail the nature and extent of the work done under the authority of this Act during the previous calendar year, and the expenditure thereon, and the estimated expenditure for the current calendar year, and such further information as the said Minister may deem desirable. The Company shall keep separate accounts of all credits to the said trust fund and of expenditures made from time to time in connection with the said works in order that the Minister of Railways and Canals may assure himself that the provisions of this Act are being complied with.