City of Moose Jaw: Ratifying Debentures
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1 MOOSE JAW: RATIFYING DEBENTURES c City of Moose Jaw: Ratifying Debentures being a Private Act Chapter 43 of Statutes of Saskatchewan, 1908 (effective June 12, 1908). NOTE: This consolidation is not official. Amendments have been incorporated for convenience of reference and original statutes and regulations should be consulted for all purposes of interpretation and application of law. In order to preserve integrity of original statutes and regulations, errors that may have appeared are reproduced in this consolidation.
2 2 c. 43 MOOSE JAW: RATIFYING DEBENTURES Table of Contents 1 Bylaws validated 2 Debentures to be a charge on credit of corporation at large 3 Debentures issued validated 4 Issue of debentures 5 Annual levy to meet payment Validity of bylaws and debentures to be unquestioned
3 MOOSE JAW: RATIFYING DEBENTURES c CHAPTER 43 An Act to ratify certain Debentures of City of Moose Jaw (Assented to June 12, 1908) Preamble WHEREAS city of Moose Jaw has by its petition represented that bylaws numbers 304, 308 and 285 of said corporation have been passed by council of said corporation; and Whereas bylaws numbers 304 and 313 aforesaid were duly submitted to a vote of ratepayers of city qualified to vote reon and required majority of ratepayers voting reon assented reto; and Whereas doubt exists as to validity of certain of said bylaws and of debentures issued or to be issued reunder and it is expedient to validate and confirm said bylaws; and Whereas bylaws referred to are as follows: Bylaw number 304 passed on thirtieth day of July, 1907, authorising corporation to expend sum of one hundred and twenty-five thousand ($125,000) dollars for purpose of extending present sewer and waterworks system and constructing and laying down of service pipes and sewers up to outer line of streets throughout city and authorising issue of debentures of said corporation for said amount to be expended on such extensions and constructions; bylaw number 313 passed on fourteenth day of October, 1907, to provide for expenditure of ninety thousand ($90,000) dollars for extension of system of electric lights already constructed in said city and to authorise issue of debentures by corporation for purposes of raising said sum so to be expended; bylaw number 308 passed on twenty-eighth day of August, 1907, to provide for borrowing by issue of debentures sum of seventeen thousand ($17,000) dollars to provide for payment of that portion of cost of construction of certain granolithic walks in said city payable by property owners on special frontage assessment system; bylaw number 285, passed on fourteenth day of November, 190, to provide for borrowing by issue of debentures sum of twenty-six thousand eight hundred and fifty-six dollars and sixty-seven cents ($2,85.7) to pay for that portion of cost of construction of certain granolithic walks in said city payable by property owners on special frontage assessment system; and Whereas said municipal corporation has by its petition prayed that an Act may be passed for purposes aforesaid; and Whereas it is expedient to grant prayer of said petition; Therefore His Majesty by and advice and consent of Legislative Assembly of Saskatchewan enacts as follows:
4 4 c. 43 MOOSE JAW: RATIFYING DEBENTURES Bylaws validated 1 Bylaws number 304, 313, and 285 of corporation of city of Moose Jaw as set forth respectively in schedules A, B, C and D to this Act are and each of said bylaws is hereby declared to be valid and binding and to have been valid and binding on said corporation and upon ratepayers reof as and from date of final passing of each of said bylaws anything in any Act or law to contrary notstanding. 1908, c. 43, s. 1. Debentures to be a charge on credit of corporation at large 2 The debentures issued or to be issued under each of said bylaws shall be a charge on assets, credit and security of corporation at large. 1908, c. 43, s. 2. Debentures issued validated 3 Any debentures issued pursuant to bylaw number 285 shall be deemed to have been properly issued and dated on first day of December, 190, and all debentures hereafter issued under such bylaw shall be dated first day of December 190, and shall be valid and binding as of that date. 1908, c. 43, s. 3. Issue of debentures 4 Notstanding anything in said bylaw number 304 contained it is hereby declared that debentures to be issued reunder shall be issued so that principal sum maturing in each year of said fifty years shall be represented by one or more debentures and each such debenture shall have attached reto coupons representing yearly interest payable reon up to its maturity and it shall be sufficient if coupons to debentures issued under this or any one of said four bylaws bear engraved or lithographed signature of secretary treasurer; and notstanding anything in said bylaw number 313 contained it is hereby declared that debentures to be issued reunder shall be so issued that amount payable for principal and interest in each year of said term of fifty years shall be equal and re shall be one or more debentures representing principal sum maturing in each year and each debenture shall have attached reto coupons representing yearly interest payable reon up to its maturity. 1908, c. 43, s. 4. Annual levy to meet payment 5 There shall be raised annually by city sum of $2, to meet yearly sum payable under bylaw number , c. 43, s. 5. Validity of bylaws and debentures to be unquestioned The validity or legality of said bylaws and each of m and of any debentures toger attached coupons issued or to be issued in pursuance reof or any of m executed as required by such bylaws or executed in manner permitted by this Act shall not hereafter be questioned in any action, suit or or proceeding in any court in this province. 1908, c. 43, s..
5 MOOSE JAW: RATIFYING DEBENTURES c SCHEDULE A BYLAW No. 304 A bylaw to authorise corporation of city of Moose Jaw to expend one hundred and twenty-five thousand dollar ($125,000) for purpose of extending present sewer and water system and constructing and laying down service pipes and sewers up to outer line of street throughout city; and to authorise issue of debentures of said corporation to said amount to be expended on such extensions and constructions. Whereas it is desirable and expedient that corporation of city of Moose Jaw extend present sewer and water system and construct and lay down service pipes and sewers up to outer line of street throughout city; and that sum of one hundred and twenty-five thousand dollars ($125,000) be expended for such purpose and that said amount be raised on credit and security of corporation at large; And whereas in order reto it will be necessary to issue debentures for corporation of city of Moose Jaw for sum of one hundred and twenty-five thousand dollars ($125,000) as hereinafter provided, which is amount of debt to be created by this bylaw; proceeds of said debentures to be applied to this purpose and to no or; And whereas amount of whole ratable property of said city according to last revised assessment roll is five millions four hundred and forty-two thousand and five hundred and sixty dollars ($5,442,50); And whereas total amount of existing debt of corporation out amount due for current expenses of year is sum of three hundred and seventy-nine thousand and twenty-six dollars and three cents ($379,02.03); And whereas said indebtedness incurred under this bylaw is to be spread over a period of fifty years; And whereas it will require total sum of six thousand eight hundred and forty-six dollars and ninety-two cents ($,84.92) to be raised annually for a period of fifty years currency of debentures to be issued under and by virtue of this bylaw, to pay debt created by this bylaw, said yearly sums being of such respective amounts that aggregate amount payable in each year for principal and interest in respect of said debt shall be nearly as possible equal to amount so payable in each of or forty-nine years of said period; And whereas this bylaw shall take effect on first day of October, A.D. 1907; Therefore council of city of Moose Jaw enacts as follows: 1 That sum of one hundred and twenty-five thousand dollars ($125,000) shall be expended by corporation of city of Moose Jaw for purpose of extending present sewer and water system and constructing and laying down service pipes and sewers up to outer line of street in said city; and that for purpose of raising said sum re shall be issued debentures of corporation of city of Moose Jaw to amount of one hundred and twenty-five thousand dollars ($125,000) which shall bear date first day of October, A.D. 1907, and bear interest at rate of five per centum per annum computed from that date and debentures representing each instalment of said debt
6 c. 43 MOOSE JAW: RATIFYING DEBENTURES shall be payable at Canadian Bank of Commerce at city of Moose Jaw in equal amounts in each of fifty years next succeeding said date, such amount being made up of aggregate sum due each year on account of principal and interest. 2 That each of said debentures shall be signed by mayor of said city and countersigned by secretary treasurer reof and seal of said corporation duly affixed. 3 For purpose of paying principal and interest of said debentures re shall be raised in each year during currency of said debentures sum of six thousand and eight hundred and forty-six dollars and ninety-two cents ($,84.92) by special rate sufficient refor on all ratable property in said city. 4 The said indebtedness is contracted on credit and security of corporation at large. 5 The proceeds of debentures are to be applied to extension of present sewer and water system and constructing and laying down of service pipes and sewers up to outer line of street. This bylaw shall take effect on first day of October, A.D The votes of electors of said city of Moose Jaw shall be taken on this bylaw at city clerk s office in city hall in city of Moose Jaw on Wednesday, tenth day of July, A.D. 1907, commencing at hour of nine o clock in afternoon and continuing until five o clock in afternoon of same day, by John D. Simpson, returning officer. 8 On eleventh day of July, A.D. 1907, said John D. Simpson shall attend at office of city clerk at nine o clock in forenoon to sum up number for and against bylaw. Dated at city of Moose Jaw this 30th day of July, A.D (Sgd.) J.H. Bunnell, [SEAL] Mayor. (Sgd.) John D. Simpson, Secretary Treasurer. I hereby declare that foregoing is a true copy of proposed bylaw which will be taken into conration by council after being voted on by electors and that same was first published on nineteenth day of June, 1907, and will be voted on Wednesday, tenth day of July, 1907, in city hall from hours of nine o clock in forenoon to five of clock in afternoon. John D. Simpson, Secretary Treasurer. A true copy: (Sgd.) John D. Simpson.
7 MOOSE JAW: RATIFYING DEBENTURES c SCHEDULE B BYLAW No. 313 A bylaw to provide for expenditure of $90,000 for extension of system of electric lights already constructed in city of Moose Jaw and to authorise issue of debentures of corporation of city of Moose Jaw to amount of $90,000 for purpose of raising said sum. Whereas it is desirable that sum of $90,000 should be expended by corporation of city of Moose Jaw in extending system of electric lights already constructed in city of Moose Jaw, and that said sum should be raised on credit and security of corporation at large; And whereas in order reto it shall be necessary to issue debentures of corporation of said city of Moose Jaw for said sum of $90,000 as hereinafter provided which is amount of debt intended to be created by this bylaw. The proceeds of such debentures to be payable for said purposes and for no or; And whereas whole ratable property according to last revised assessment roll amounts to $5,230,0; And whereas total amount of existing debt of corporation out of current expenses for year is sum of $432,401.2; And whereas indebtedness incurred under this bylaw is to be spread over a period of fifty years; And whereas it will require total sum of $4, to be raised annually for a period of fifty years currency of debentures to be issued under and by virtue of this bylaw to pay debt created by this bylaw, said yearly sums being of such respective amounts that aggregate amounts payable each year for principal and interest in respect of said debt shall be equal to amount so payable in each of or years of said period. Therefore corporation of city of Moose Jaw duly assembled enacts as follows: 1 The sum of $90,000 shall be expended by corporation of city of Moose Jaw in extension of system of electric lights already constructed in said city and for purpose of raising said sum, debentures of said corporation to amount of $90,000 as aforesaid shall be issued on fifteenth day of November, A.D. 1907, each of which debentures shall be dated on date of issue reof and shall be payable in fifty years reof at Canadian Bank of Commerce in city of Moose Jaw. 2 The said debentures shall bear interest at a rate not exceeding five per centum per annum. 3 Each of said debentures shall be signed by mayor of said city and shall be countersigned by secretary treasurer reof and clerk of said city shall attach reto corporate seal of corporation. 4 During currency of said debentures re shall be raised annually by special rate on all ratable property of city of Moose Jaw sum $4, for purpose of paying amount due in each of said years principal and interest in respect to said debt.
8 8 c. 43 MOOSE JAW: RATIFYING DEBENTURES 5 That amount of debt created by this bylaw is raised on credit and security of corporation at large and proceeds of said debentures are to be applied to purpose as aforesaid and to no or. This bylaw shall take effect on fifteenth day of November, A.D Votes of electors of said corporation of city of Moose Jaw shall be taken at city clerk s office in city hall in said city on seventh day of October, A.D. 1907, commencing at hour of nine o clock in forenoon and continuing until five o clock in afternoon of same day by John D. Simpson, returning officer. 8 On eighth day of October, A.D. 1907, said John D. Simpson shall attend at office of city clerk at nine o clock in forenoon to sum up number for and against this bylaw. Dated at city of Moose Jaw this fourteenth day of October, A.D (Sgd.) J.H. Bunnell, Mayor. [SEAL] (Sgd.) John D. Simpson, Secretary Treasurer. I hereby declare that foregoing is a true copy of a proposed bylaw which will be taken into conration by council after being voted on by electors, published on thirteenth day of September and to be voted on on Monday seventh day of October, 1907, in city hall from hour of nine in morning to five of clock in afternoon. John D. Simpson, Secretary-Treasurer. A true copy: (Sgd.) John D. Simpson. SCHEDULE C BYLAW No. 308 A bylaw to provide for borrowing by issue of debentures that portion of costs of construction of certain granolithic walks in city of Moose Jaw payable by property owners on special frontage assessment system. Whereas council of city of Moose Jaw has by public notice declared its intention of undertaking, constructing and completing on special frontage assessment system of granolithic walks on following limits or s of streets set out and ir respective widths described as follows: (a) From SE. corner of lot 10 block 79 in a norrly direction along Langdon Crescent to NE. corner of lot 17 block 4 - width feet; (b) On north of Athabasca street east from SE. corner of lot 5 east to SE. corner of lot 12, all in block 27 - width feet; (c) On south of High street from NE. corner of lot 1 of NW. corner of lot 1 in block width 10 feet;
9 MOOSE JAW: RATIFYING DEBENTURES c (d) On north of Fairford street from SE. corner of lot 25 in block 78 of SW. corner of lot 409 block 77 - width feet; (e) On south of Ominica street from NW. corner of lot 1 block 78 to NW corner of lot 1 block 75 - width feet; (f) On north of Athabasca street from SE. corner of lot 11 to SW. corner of lot 20 block 29; (g) On south of Athabasca street from NE. corner of lot 8 in block 45 of NW. corner of lot 1 block 44 - width feet; (h) On north of Stadacona street from SE. corner of lot 12 to SW. corner of lot 19 block 45 - width feet; (i) On north of Stadacona street from SE. corner of lot 11 to SW. corner of lot 20 block 41 - width 5 feet; (j) On south of Stadacona street from NE. corner of lot 10 to NW. corner of lot 1 in block 4 - width 5 feet; And whereas re has been no petition whatever of various owners of lands to be affected to council against same at any time since publication of public notice of such proposed undertaking, construction and completion as aforesaid; And whereas total assessed value of land abutting on said s of said respective streets is as set down in third column of schedule hereto opposite said portion of said respective street; And whereas part of costs of same respectively chargeable against lands abutting on said s of said respective streets is as set down in fifth column of said schedule opposite said respective portions of streets; And whereas number of feet frontage of lands abutting in case of each of such portions of streets is as set down in sixth column of said schedule opposite each such portion and cost per foot frontage chargeable lands abutting in respect of each of such portions is as set down in seventh column of said schedule opposite such portions respectively and annual rate per foot frontage to be levied in each year for a period of ten years on lands abutting on said respective streets is as set down in eighth column of said schedule, and schedule is in all respects same as ascertained and determined by said report and by court of revision; And whereas it will require total sum of $2, to be raised annually for a period of ten years, currency of debentures to be raised under and by virtue of this bylaw to pay debt created by this bylaw said yearly sums being of such respective amounts that aggregate amount payable in each year for principal and interest in respect of said debt shall be equal to amount so payable in each of or years of said period; And whereas said moneys to be realised on debentures are to be used for purposes aforesaid and for that purpose only; And whereas said debt is contracted on credit and security of corporation at large to be collected however only by way of special frontage assessment system;
10 10 c. 43 MOOSE JAW: RATIFYING DEBENTURES Therefore council of city of Moose Jaw enacts as follows: 1 That for purpose of raising sum of seventeen thousand dollars ($17,000) portion of cost of undertaking, construction and completion of said walks on s of respective streets hereinbefore and in said schedule mentioned, re shall be issued debentures of city of Moose Jaw to amount of seventeen thousand dollars ($17,000) which shall bear date first day of October, 1907, and shall bear interest at rate of five per centum per annum from first day of October, 1907, and debentures shall be payable at Canadian Bank of Commerce at city of Moose Jaw in ten annual instalments from ir date, aggregate amount payable in each year for principal and interest in respect to said debt being equal to amount so payable in each of or years of said period. 2 That each of said debentures shall be signed by mayor of said city and countersigned by secretary treasurer reof and seal of said corporation duly affixed and coupons representing annual instalments of principal and interest if debentures are so issued shall be signed by secretary treasurer and signature of mayor may be printed or lithographed reon. 3 For purpose of paying said debentures and interest re shall be raised in each year during currency of said debentures by special frontage assessment system rate per foot frontage mentioned in eighth column of said schedule upon lands abutting on s of said respective streets as mentioned in said schedule. 4 The money realised from said debentures shall be used for purposes aforesaid and for such purpose only. 5 The debt created by issue of said debentures is contracted on credit and security of corporation at large to be collected refor annually by way of special frontage assessment system. This bylaw shall take effect on twenty-eighth day of August, A.D (Sgd.) J.H. Bunnell, [SEAL] (Sgd.) John D. Simpson, Mayor. Secretary Treasurer. Certified to be a true copy: John D. Simpson.
11 MOOSE JAW: RATIFYING DEBENTURES c (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) 1 Street on which walk laid and West of Langdon Cres. North of Athabasca St. E. South of High St. E. North of Fairford St. W. South of Ominica St. W. North of Athabasca St. W. South of Athabasca St. W. North of Stadacona St. W. North of Stadacona St. W. South of Stadacona St. W. 2 Portion of such street between lying intersection north of Fairford St. to its intersection south of Cordova St. intersection of main St. to its intersection of Tenth Ave. east intersection of main St. to its intersection of Ninth Ave. east intersection of Main St. to its intersection of Eighth Ave. east of Main east intersection St. to its intersection of Sixth Ave. of Ninth east intersection Ave. to its intersection of Eighth Ave. of Main east intersection St. to its intersection of Eighth Ave. of Main east intersection St. to its intersection of Ninth Ave. of Sixth east intersection Ave. to its intersection of Fifth Ave. intersection of Seventh Ave. to its east of Sixth intersection Ave. 3 Value of real property 4 Width walk in feet 5 ost o f C e chargeabl abutting lands o. ft. N o f frontage abutting lands 7 Cost per frontage ft. in 8 Annual per frontage cents rate ft. in $ 13, $ 1, " 10, , , , , ,025 39, , ,025 7, , , ,025 10, , , ,
12 12 c. 43 MOOSE JAW: RATIFYING DEBENTURES SCHEDULE D BYLAW No. 285 A bylaw to provide for borrowing by issue of debentures that portion of cost of construction of certain granolithic walks in city of Moose Jaw, payable by property owners on special frontage assessment system. Whereas council of city of Moose Jaw are since first day of January, 190, in receipt of petitions praying for undertaking, construction and completion on special frontage assessment system of granolithic walks on following limits or s of streets hereinafter set out, namely: (a) The north limit or of River street from its intersection of Seventh avenue to its intersection east of Sixth avenue; (b) The south limit or of River street from its intersection of Main street to its intersection east of Ninth avenue; (c) The north limit or of River street from its intersection of Eighth avenue to its intersection east of Seventh avenue; (d) The south limit or of Stadacona street from its intersection of Main street to its intersection east of Seventh avenue; (e) The north limit or of Stadacona street from its intersection of Eighth avenue to its intersection east of Seventh avenue; (f) The north limit or of High street from its intersection of Seventh avenue to its intersection east of Fifth avenue; (g) The south limit or of High street from its intersection east of Main street to its intersection of Tenth avenue; (h) The north limit or of Athabasca street from its intersection east of Tenth avenue to its intersection of Eleventh avenue; (i) From of lane in rear of lot number sixteen (1) block number ninety-three (93) to east of Sixth avenue; (j) The east limit or of Main street between north of Fairford street and south of Cadoga street; (k) The east limit or of Main street from its intersection north of Cariboo street to its intersection south of Hall street; (l) The limit or of Main street from its intersection north of Fairford street to its intersection south of Oxford street; respectively signed by at least two-thirds in number of persons registered or assessed as owners of respective lands abutting on said limits or s of streets as aforesaid and representing at least one half in value of such lands, excluding improvements reon as same are valued according to last revised assessment roll; And whereas total assessment value of lands abutting on said s of said respective streets is as set down in third column of schedule hereto opposite said portions of said respective streets;
13 MOOSE JAW: RATIFYING DEBENTURES c And whereas said walks have been constructed and are of respective widths mentioned in fourth column of said schedule and part of cost of same respectively chargeable against lands abutting on said s of said respective streets is as set down in fifth column of said schedule opposite said respective portions of streets; And whereas number of feet frontage of lands abutting in case of each such portions of streets is as set down in sixth column of said schedule opposite each such portion, and cost per foot frontage chargeable against lands abutting in respect of each of such portions is as set down in seventh column of said schedule opposite such portions respectively and annual rate per foot frontage to be levied in each year for a period of ten years upon lands abutting on said respective streets is as set down in eighth column of said schedule and schedule is in all respects same as ascertained and determined by said report and by court of revision; As whereas it will require total sum of three thousand four hundred and seventy-eight dollars and five cents ($3,478.05) to be raised annually for a period of ten years, currency of debentures to be issued under and by virtue of this bylaw to pay debt created by this bylaw, said yearly sums being of such respective amounts that aggregate amount payable in each year for principal and interest in respect of said debt shall be equal to amount so payable in each of or years of said period; And whereas said debt is contracted on credit and security of corporation at large to be collected however only by way of special frontage assessment system. Therefore council of city of Moose Jaw enacts as follows: 1 That for purpose of raising sum of twenty-six thousand eight hundred and fifty-six dollars and sixty-seven cents ($2,85.7) portion of cost of undertaking construction and completion of said walks on s of respective streets hereinbefore and in said schedule mentioned re shall be issued debentures of city of Moose Jaw to amount of twenty-six thousand eight hundred and fifty-six dollars and sixty-seven cents ($2,85.7) which shall bear date first day of December and bear interest at rate of five per centum per annum and debentures shall be payable at Canadian Bank of Commerce at city of Moose Jaw in ten annual instalments from ir date, aggregate amount payable in each year for principal and interest in respect of said debt being equal to amount so payable in each of or years of said period. 2 That each of said debentures shall be signed by mayor of said city and countersigned by secretary treasurer reof and seal of said corporation duly affixed and coupons representing annual instalments of principal and interest shall be signed by secretary treasurer and signature of mayor may be printed or lithographed reon. 3 For purpose of paying said debentures and interest re shall be raised in each year during currency of said debentures by a special frontage assessment system rate per foot frontage mentioned in eighth column of said schedule upon lands abutting on s of said respective streets as mentioned in said schedule.
14 14 c. 43 MOOSE JAW: RATIFYING DEBENTURES 4 The debt created by issue of said debentures is contracted on credit and security of corporation at large, to be collected refor annually by way of special frontage assessment system. 5 This bylaw shall take effect on fourteenth day of November, A.D (Sgd.) D. McLean, [Seal] Mayor. (Sgd.) John D. Simpson, Secretary-Treasurer. Certified to be a true copy: John D. Simpson.
15 MOOSE JAW: RATIFYING DEBENTURES c (a) (b) (c) (d) (e) (f) (g) (h) (i) (j) (k) (l) 1 Street on which walk laid and North of River St. W. South of River St. W. North of River St. W. South of Stadacona St. W.. North of Stadacona St. W. North of High St. W. South of High St. E. North of Athabasca St. E.. Fairford St. from lane W. East of Main St. East of Main St. West of Main St. 2 Portion of such street between lying intersection of Seventh Ave. to its east of Sixth intersection Ave. of Main east intersection St. to its intersection of Ninth Ave. of Eighth east intersection Ave. to its intersection of Seventh Ave. of Main east intersection St. to its intersection of Seventh Ave. of Eighth east intersection Ave. to its intersection of Seventh Ave. of Eighth east intersection Ave. to its of Fifth intersection Ave. of Main intersection St. to its intersection of Tenth Ave. east of Tenth intersection Ave. to its intersection of Eleventh Ave. east From rear of lot 1 in of Sixth Ave. of block 93 land to in east Between and south north of Hall of St. Hochelaga St. intersection north of Fairford St. to its intersection south of Athabasca St. intersection of Fairford St. to its south of Exford north intersection St. 3 Value real of property 4 Width walk in feet 5 ost o f C e chargeabl abutting lands o. ft. N o f frontage abutting lands 7 Cost per frontage ft. in 8 Annual per frontage cents rate ft. in $14, ,00.00 $ 1, , , , , , , , , , , , , , , , , , , of of , , ,34 " , , , , ,84 "
16 1 c. 43 MOOSE JAW: RATIFYING DEBENTURES REGINA, SASKATCHEWAN Printed by authority of THE QUEEN S PRINTER Copyright 2007
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