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BILL NO. 25





Local Bill




4th Session, 56th General Assembly
Nova Scotia
45 Elizabeth II, 1996




An Act to Permit the Transfer of

Certain Trust Funds from the

City of Halifax to the Halifax Foundation





The Honourable Jay F. Abbass
Halifax Chebucto




Halifax
Printed by Queen's Printer for Nova Scotia







An Act to Permit the Transfer of

Certain Trust Funds from the

City of Halifax to the Halifax Foundation

Be it enacted by the Governor and Assembly as follows:

1 This Act may be cited as the Halifax Trust Funds Transfer (1996) Act.

2 In this Act,

(a) "City means the City of Halifax;

(b) "Foundation" means the Halifax Foundation, incorporated by Chapter 69 of the Acts of 1983;

(c) "trust funds" means those funds more particularly described in the Schedule to this Act.

3 (1) The City may transfer the trust funds to the Foundation.

(2) The Foundation shall administer the principal amount of each of the trust funds generally in accordance with the terms for which the trust fund was acquired by the City but may, for the objects and purposes of the Foundation, make such expenditures from earnings on the principal amount of the trust funds and exercise such powers are necessary to enable it to do so.

4 This Act has effect on and after March 28, 1996.

SCHEDULE

(1) All those funds now or formerly held by the City in trust and now shown on the records and accounts of the City under the name the G. R. Hart Trust, which fund consisted, on March 28, 1996, of $84,259.03.

(2) All those funds now or formerly held by the City in trust and now shown on the records and accounts of the City under the name the J. D. O'Connell Picnic Fund Trust, which fund consisted, on March 28, 1996, of $133,147.72.

(3) All those funds now or formerly held by the City in trust and now shown on the records and accounts of the City under the name the J. M. Foote Trust, which fund consisted, on March 28, 1996, of $44,772.52.

(4) All those funds now or formerly held by the City in trust and now shown on the records and accounts of the City under the name the Cogswell Military Drill Trust, which fund consisted, on March 28, 1996, of $10,274.65.


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