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
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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
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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.
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