Friday, January 19, 1973
The Bill also governs the position of the Chairman of the Council.
The standing committee of the whole Council may elect as Chairman a person who
is not a member of the Council.
It stipulates that there shall be an election for Chairman and Vice-
Chairman in every year in which there is an ordinary election of members.
The Bill lists functions and the range of permissible activities
carried on by the Council at present and also sets out additional powers which
the Council as a corporation may exercise.
Future Relationship
The future relationship between the Council, the Director of Urban
Services and the Urban Services Department is also defined in the Bill.
The Director of Urban Services will no longer be a member of the
reconstituted Council but he will become its chief executive officer.
The Council will discharge its functions through the U.S.D., but
the department will remain a department of the Government and be under the
control of the Director of Urban Services,
The Council will be required to make financial by-laws to cover
certain matters which are necessary in view of the Council's financial autonomy.
The Council will also be required to prepare annual statements of
revenue and expenditure and of assets and liabilities.
The Council is empowered to raise loans against its assets and revenues
for the purpose of funding capital expenditures or for re-funding previous loans
raised for that purpose.
It will also be able to borrow temporarily such sums of money as may
be necessary to meet any obligations or to fulfil any functions imposed on it by statute and any surplus funds in such investments as may be approved by the
Financial Secretary.
/The Governor,