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HomeMy WebLinkAboutKIN 75 3096 Borrowing By-law THE CORPORATION OF THE TOWN OF KIN CARD E BY-LAW NO. 3096 A By-law to authorize the borrowing of $ for the purpose of paying the cost f6r th construction of a Water Storage Reservo· WHEREAS'the capital cost of the Water Størag Reservoir is $170,000.00 i . AND WHEREAS it is deemed expedient to borrow purpose aforesaid 'by way of promissory note exceeding $90,000.00 THEREFORE the Council of the Corporation of Kincardine ENACTS AS FOIJ.OWS: or the sum not I I I , he Town of i 1. For the purpose of paying part of the I apital cost olothe construction of the Water Stora~ Reservoir, the Corporation shall borrow by way of a pr issory note from the Treasurer of Ontario a sum not ding $90,000.00 with interest at the rate of 8. 2. That the Mayor and the Treasurer on b4 lf of the Town of Kincardine are hereby authorized to Ii ign a promissory note for the lean to be effected. I ! 3. That ,this By-law sball be effective 0 the date of final passing thereof. READ a first, second and third time day of June , 1975. . '- " -,\ \, \.' ~, " '