HomeMy WebLinkAboutKIN 75 3136 Borrow BOM
:.
LF. U Rev. May 1960.
Onto
Municipal By-law for Currant
Expendituraa.
67395 Printed In Canada,
il
Municipality of.......J..Q!&...g?..g~Ç!@~Æt.. .................................
BY-LAW No.........}.!:?§............................................ .................................
WHEREAS the Council of the Corporation deems it necessary to orrow the sum of
, /.
--- O~ HUNDRED THOUSAND ---------------- "
........................ ..... ............... ..... ..................................................... ......... ........................ .......... ............dollars ~
.,
"
to meet, until the taxes are collected, the current expenditures of the Corpor~tu~nJdrttíð yØa~ . _;
j '-:"/". -= _. - ~
AND WHEREAS the total amount of the estimated revenues of th Có~raijon as.siÍt,-:;
0' ~ A,__ -.,..,..~ ..:-
forth in the estimates adopted for the year 19.!.I., not including revenues I erivaiijé~.~"-
from the sale of assets, borrowings or issuance of debentures or from a surp s, including arrears
:'?T~ ':'';:; of taxes, is·......9.~..:r-g~g~..g.~...~~...~...~~:g...~9.~. . ..~~~~~..........
...."".. for.he, I1n DOLLARS
.urrent _ if .d- AND SIX ¡.l1vNDRED
~::; ~~...... ..................................................................................................................................... .....................dollars
AND WHEREAS the total amount heretofore authorized to be owed this year for
. TWO
IS............................
~E'.f'n":.~."'~ the purposes mentioned in subsection (1) of Section 329 of The Municipal
:Iií;1'~ --- HUNDRED AND FIFTY THOUSAND -----
..........................................................................................dollars. of which the Co ration bas alreatly-_
TWO HUNDRED AND F1FTY THOUSAND --- -.:..---
borrowed a total of.....................................................................................................¡....,.................dollars. ~ ,
~ . -- - :::-::: '
H EFORE h C ·lofTh Co . h TO~:: C'-::; ,':::::;
T ER t e ounc. e rporatlon of t e..............................o<;;..........:-;;-.........;.:...; -.;
I r_' -_ . -.__
KINCARDINE ., .' ,<ç
- '.
of....................................................................................hereby enacts as followa: ..,. ~ . - '~,- /
1. The Head and the Treasurer are hereby authorized on behalf
the CorpÖràtìò; 'to
borrow from time to time, by way of promissory note, from the Bank of ontreal. a sum or
sums not exceeding in the aggregate..g~~...~.~p.~~...~~9.~.~~...:.: . ::.:.:.:::::..................
....................................................................................doliars to meet, until the
current expenditures of the Corporation for the year, including the amou ts required for the
purposes mentioned in subsection (1) of the said Section 329, and to give,; n behalf of the Cor-
poration, to the Bank a promissory note or notes, sealed with the corpora! seal and signed b)
them for the moneys 80 borrowed with interest at a rate not exceeding..?..: ' t.~.........per centum
per annum, which may be paid in advance or otherwise.
.
"
.....
2. sums borrowed from th& $aId Bank, fo.r any or all of the pu~ mentioned in the
said Section 329, shall, with Inte.rest thereon, be a charge upon the whole of t revenues of the
Corporation fo.r the current year and for all precedinQ years, as and when ch revenues are
reœlved. . I
3. The Treasurer is hereby authorized and directed to apply in pa ent of all sums
borrowed pursuant to the authority of this By-law, as well as all other sums bo wed in this year
and any previous years, from the said Bank for any or all of the pu.rposes me oned in the said
Section 329, together with interest thereon, all of the moneys hereafter collec d or received on
account or realized in respect of the taxes levied for the current year and prece' Ing years and all
of the moneys collected 0.1 received from any other source, which may lawfully applied for such
purpose.
, . 20th Novemb r 75
Pasaed this............... .......... ................................,...,... .....day of...........................!. ................19........
COWTE , .......~~..............................
......~....... ............~:::.....
.-' --..
I hereby certify that the foregoing is a true copy of By-law No...................f of The Corpora-
tion of the...,...........~~.~......................of.......~.?~~.~.~..................in the Pr~ ince of Ontario,
duly passed at a meeting of the Council of the said Corporation duly held, ~ d that the said
By-law Is in full force and effect. ' I
. 20th November' 75
Dated thls....................................................................day of................................. ..............19.........
M witness the Seal of
the Corporation.
...~......
CORPOIIATE
KAL"