CHAPTER 353
OF THE
REVISED STATUTES, 1989
Short title
1 This Act may be cited as the Preston Area Housing Act. R.S., c. 353, s. 1.
Interpretation
2 In this Act,
(a) "Board" means the Board of Directors of the Fund;
(b) "Fund" means the Preston Area Housing Fund. R.S., c. 353, s. 2.
BOARD OF DIRECTORS
Board of Directors continued
3 (1) The Board of Directors of the North Preston Housing Demonstration Fund is hereby continued as a body corporate known as the Board of Directors of the Preston Area Housing Fund.
(2) The Board consists of
(a) one person appointed by the Council of the Halifax Regional Municipality;
(b) two persons appointed by the Minister of Community Services;
(c) two persons appointed by the Minister of Housing and Municipal Affairs;
(d) two persons who are residents of the community of North Preston elected by those members appointed to the Board pursuant to clauses (a), (b) and (c);
(e) two persons who are residents of the community of East Preston, elected by those members appointed to the Board pursuant to clauses (a), (b) and (c);
(f) one person who is a resident of the community of Cherry Brook, elected by those members appointed to the Board pursuant to clauses (a), (b) and (c); and
(g) one person who is a resident of the community of Lake Loon, elected by those members appointed to the Board pursuant to clauses (a), (b) and (c).
(2A) A person who is a member of the Senate, the House of Commons or the House of Assembly or who holds an office to which that person has been elected pursuant to the Municipal Elections Act or the Municipal Government Act is not eligible to be a member of the Board.
(3) Each person who is appointed to the Board shall serve for the term prescribed in his appointment or until his successor is appointed and each member elected to the Board shall serve for a term of three years or until his successor is elected.
(3A) Each person who is appointed to the Board pursuant to clause (2)(a), (b) or (c) may be re-appointed and each person who is elected to the Board pursuant to clause 2 (d), (e), (f) or (g) may be re-elected, except that no person may be elected as a member of the Board for more than two consecutive terms.
(4) The authority that appoints or elects a member of the Board shall fill any vacancy caused by the death, resignation or incapacity of the member.
(5) The Chair shall be appointed from the members of the Board by the Minister of Housing, and the Board shall elect from among its members a Vice-chair and a Secretary and may constitute an executive committee and such other committees as may be required.
(6) Six members of the Board, including the Chair or Vice-chair, two of the four members appointed pursuant to clauses (2)(b) and (c) and three of the six persons elected pursuant to clauses (2)(d), (e), (f) and (g) constitute a quorum for the transaction of any of the business of the Board. R.S., c. 353, s. 3; 2000, c. 15, s. 1.
HOUSING FUND
Preston Area Housing Fund
4 (1) The North Preston Housing Demonstration Fund is hereby continued as the fund known as the Preston Area Housing Fund.
(2) The object and purpose of the Fund and of the Board shall be
(a) the providing of financial assistance to the residents of the communities and areas in which the Fund operates for the purpose of providing better residential housing; and
(b) the encouragement and promotion of housing and development in the communities and areas in which the Fund operates including the rehabilitation and improving of existing housing and the construction of new housing.
(3) Any money or securities received by the Board from any source shall be paid into and become a part of the Fund.
(4) The Board shall have the supervision, management, control and investment of the Fund and of the money or securities of the Fund.
(5) The Board is a charitable organization and the members of the Board shall have no personal interest in the property of the Board or the assets of the Fund, and the Board and the Fund including their property and assets shall not be subject to Provincial or municipal taxation. R.S., c. 353, s. 4.
POWERS OF THE BOARD
Powers of Board
5 In addition to the powers vested in a corporation, the Board shall have the powers of a society incorporated under the Societies Act and may
(a) receive donations and contributions for payment into the Fund and give good and valid receipts and acknowledgements for donations or contributions;
(b) acquire, take and hold real and personal property and develop or grant, sell, lease or otherwise dispose of the same;
(c) make loans of money from the Fund to any person or guarantee the repayment of loans and take security for any loan or guarantee;
(d) construct, hold, maintain and manage housing projects or housing accommodation of any type for sale or for rent and provide services related to housing;
(e) improve and convert existing buildings for housing accommodation of any type;
(f) make grants or loans to individuals or persons for the purposes of financing the rehabilitation of or the improvement of existing housing accommodation and the construction of new housing units;
(g) forgive any loan or any part or parts thereof;
(h) do all such other things as may be incidental or conducive to the attainment of the objects of the Board and of the Fund;
(i) define the boundaries of the communities and areas in which the Fund operates. R.S., c. 353, s. 5.
BY-LAWS
By-laws
6 The Board may make, alter, amend or repeal by-laws respecting the conduct, control and management of the Board and its affairs and of the Fund, including by-laws respecting
(a) the adoption of a common seal and the execution by the Board of any deed, agreement, contract, negotiable instrument, security or other document;
(b) the convening of meetings and the conduct of and agenda at meetings and the holding of an annual meeting;
(c) the election of members of the Board and the appointment and duties of officers and committees;
(d) the keeping of books and records for the Fund. R.S., c. 353, s. 6.
AUDIT
Auditor and report
7 (1) The Board shall engage as an auditor a qualified chartered accountant to audit the Fund and the books and records of the Board and the auditor shall make an annual audit and furnish a report to the Board.
(2) The auditors report shall be available for inspection by any person who makes a contribution to the Fund. R.S., c. 353, s. 7.
