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     GAZETTE 
     
    
   
   
    
       
     
    
   
   
    
     .1 “IW‘I 
     
    
   
   
    
     JOHN INGIS, QUEEN’S PRINTER. 
     
    
   
   
    
       
     
    
   
   
    
     LAWS OF PRINCE EDWARD ISLAND. 
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
     (ZAP. V. 
     
    
   
   
    
     An Act to assist Leaseholders in the purchase 01 
     
     the Fee-Simple of their Farms. 
     
     [l’assed, April ‘23 1865. 
     
    
   
   
    
     IIEREAS the creation and continuance of 
     
    

    
     Leasehold ’l'enures on Township Lands in 
     
    

    
     this Island, have tended to check the progress and 
     
    

    
     retard the prosperity thereof, and it is deemed ex- 
     
    

    
     pedient to aid and assist leaseholders in purchasing 
     
    

    
     the fee simple of their Farms from their Proprietors 
     
     or Landlords. 
     
    
   
   
    
     I. Be it therefore enacted by the Lieutenant 
     
     Governor, Council and Assemby, as follows: It 
     
     shall be lawful for the Lieutenant Governor in 
     
     Council, to authorize the issue of Government 
     
     Debentures, to an amount not exceeding Fifty 
     
     thousand pounds, of lawful money of this Island, 
     
     in such form, and the principal and interest whereof 
     
     shall be payable at such periods and places as he 
     
     shall think fit, but. bearing interest at the rate not 
     
     exceeding six pounds per centum per annurn, and 
     
     redeemable at a- period not exceeding ten years 
     
     from the date ofthe issue; and to advance the sum 
     
     to be raised by the issue of the said debentures as 
     
     an aid by loans to any leaseholders or tenants of 
     
     Township lands, who may be desirous of purchas- 
     
     ing from their landlords the reversion in fee-sir'nple 
     
     oftheir farms, upon the terms and conditions con- 
     
     tained in this Act. 
     
    
   
   
    
     II. For the repayment of all sums of money 
     
     borrowed under this Act, and the interest. thereon, 
     
     the surplus moneys which shall hereafter cerne to 
     
     hand, arising from the sale of lands purchased under 
     
     this Act, and paid into the 'I'reastiry, shall in the 
     
     first instance be pledged and rendered liable; and 
     
     the other public funds, moneys and securities of 
     
    
   
   
    
     Charlottetown, Prince Edward Island, May 8, 1865. 
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
     W 
     
    
   
   
    
     VOL. IV.-No. 313 
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
       
     
    
   
   
    
     this Island, shall be, and the same are hereby in 
     
     the next place pledged and rendered liable, subject 
     
     nevertheless to any prior lien or claim thereon by 
     
     any debentures previously issued by the Govern- 
     
     ment ofthis Island. 
     
    
   
   
    
     III. The total amount of the aid which any 
     
     leaseholder or tenant of township lands shall loan 
     
     from the Government, shall not exceed one half the 
     
     purchase money that he may have agreed to pay 
     
     his landlord or proprietor for the purchase of the 
     
     reversion in fee-simple of his farm. 
     
    
   
   
    
     IV. N0 leaseholder or tenant shall be entitled to 
     
     any aid under the provisions of this Act, who shall 
     
     enter into any agreement with his landlord or pro- 
     
     prietor, to give more than sixteen shillings and 
     
     eight-pence of lawful money of this Island, per acre, 
     
     for the reversion in fee—simple of his farm. 
     
    
   
   
    
     V. Every tenant or leaseholder of township lands, 
     
     who has entered into an agreetnent with his proprie- 
     
    
   
   
    
     ' tor or landlord, for the purchase of the reversion of 
     
    
   
   
    
     his farm in fee-simple, at a rate not exceeding six- 
     
     teen shillings and eight-pence of lawful money of 
     
     this Island, per acre, and is desirous of obtaining 
     
     and receiving aid or assistance from the Govern— 
     
     ment to the extent of not more than one moiety or 
     
     equal half part ofthe said purchase money, to enable 
     
     him to complete the said purchase, shall make a 
     
     written or printed application to that effect to the 
     
     ('onnnissioner of Public Lands. 
     
    
   
   
    
     VI. Upon receipt of the said application, the 
     
     Commissioner of Public Lands shall cause the title 
     
     and value of the said leaseholder or tenant,and that 
     
     of his proprietor or landlord, to the said farm, to be 
     
     investigated. 
     
    
   
   
    
     VII. If upon such investigation, the title and 
     
     value of the said farm shall prove satisfactory, the 
     
     said leaseholder or tenant, shall immediamiy film-e- 
     
     after pay one moiety or equal half part ofthe said