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| This Act is current to August 26, 2025 |
[Prepared for convenience by the Office of Legislative Counsel. Note: This Act has not been revised as part of the Revised Statutes 1996. References in this Act to other Acts may be references to earlier Revised Statutes or to Acts not consolidated in a general revision of statutes, depending on when the provision of this Act containing the reference was enacted or amended.]
Assented to November 7, 1973
| Contents | ||
|---|---|---|
| 1 | Authority to enter into agreement and validation | |
| 2 | Further agreements | |
| 3 | Alteration of existing agreements | |
| 4 | Borrowing power | |
| 5 | Other Acts | |
| 6 | Commencement | |
| Schedule | ||
WHEREAS the City of Vancouver, by resolution made and passed the twenty-fifth day of October, 1973, resolved as follows:
Whereas a draft agreement to purchase made between the City of Vancouver and Dawson Developments Limited which provides for the acquisition of all the issued and outstanding shares and loans of Harbour Park Developments Ltd., a copy of which agreement is Schedule I to this resolution and is herein referred to as "the principal agreement", together with a draft Bill to be known as the Vancouver Enabling Act, 1973 (a copy of which Bill is Schedule II to this resolution and is herein referred to as "the said Bill") have been submitted to the Council of the City of Vancouver:
Therefore be it Resolved:
1. That the principal agreement be approved in principle; and
2. That the Corporation Counsel be and he is hereby authorized to promote the enactment of the said Bill by the Legislature of the Province at its present sitting; and
3. That the Mayor (or the Deputy or Acting Mayor, as the case may be) and the City Clerk be and they are hereby authorized to and shall execute the principal agreement subject to ratification thereof by the said Bill when the same is enacted and, after enactment, to execute all such other agreements referred to therein and shall execute any other agreement referred to in any schedule to the principal agreement and to affix the seal of the City of Vancouver thereto:
AND WHEREAS the City of Vancouver requires additional power and authority in order to carry out the provisions of the resolution, and the principal agreement referred to therein, and it is advisable to confer such power and authority:
NOW, THEREFORE, HER MAJESTY, by and with the advice and consent of the Legislative Assembly of the Province of British Columbia, enacts as follows:
1 (1) The City of Vancouver is hereby authorized and empowered to enter into a certain agreement to purchase between Dawson Developments Limited and the City of Vancouver, a copy of which is a Schedule to this Act and is herein referred to as "the principal agreement", providing for the purchase, by the City of Vancouver, of all the issued and outstanding shares and loans of Harbour Park Developments Ltd. as more particularly set out in the principal agreement, for the consideration and upon the terms and conditions set out therein, and to do all things necessary for the purpose of carrying out and giving full effect to the provisions of the principal agreement and this Act.
(2) Upon the execution of the principal agreement by both parties, the principal agreement is binding on both parties and is thereupon, by this Act, validated, ratified, and confirmed as having been done lawfully and with full authority by the City of Vancouver.
1973-157-1.
2 (1) The City of Vancouver is further authorized and empowered
(a) to expend such sums as may be required by, and assume any and all obligations created by, the principal agreement;
(b) to assume and discharge the indebtedness of Harbour Park Developments Ltd. referred to as "the bank loan" in the principal agreement; and
(c) to enter into and execute any further agreements contemplated by or necessary for the purpose of giving effect to the principal agreement.
(2) Upon the execution of any further agreement referred to in clause (c) of subsection (1), such agreement is binding on both parties and is thereupon, by this Act, validated, ratified, and confirmed as having been done lawfully and with full authority by the City of Vancouver and the City of Vancouver is authorized and empowered to do all such things as may be necessary in order to carry out and give full effect to its provisions.
1973-157-2.
3 Subject to the approval of the Lieutenant-Governor in Council, the parties may make such additions, deletions, or changes to the principal agreement, or to any other agreement authorized by this Act, as may be agreed upon by the parties and as may be necessary for the purpose of carrying out the intent and purpose of this Act and the principal agreement.
1973-157-3.
4 For the purpose of carrying out this Act and the principal agreement, the City of Vancouver has power and authority to borrow money, by the issue and sale of debentures or otherwise, repayable within such period as it may consider advisable not exceeding ten years, and subject to such terms and conditions as the Council of the City of Vancouver may consider advisable.
1973-157-4.
5 This Act applies notwithstanding the provisions of the Vancouver Charter or any other Act.
1973-157-5.
6 (1) This Act, excepting the title and this section, comes into force on a date to be fixed by the Lieutenant-Governor by his Proclamation, and he may fix different dates for the coming into force of the several provisions; and upon the coming into force of this Act or any provision thereof, the Act or such provision is retroactive and shall be deemed to have come into force on the first day of November, 1973, to the extent necessary to give full force and effect to such provisions on, from, and after that date.
(2) The title and this section come into force on Royal Assent.
1973-157-6.
(Section 1)
[The contents of this Schedule are on file in the office of the Clerk of the Legislature and is identified by the signature thereon of the Provincial Secretary and the Clerk, and a true copy thereof likewise identified is filed in the office of the Provincial Secretary.]
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