HomeMy WebLinkAboutKIN 75 3095 Borrowing By-law
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THE CORPORATION OF THE TOWN OF KIN CARD E
BY-LAW NO. 3095
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A By-law to authorize the borrowing of $262' pO.
for the purpose of paying the. cost for the ~nstruction
of a Community Centre.
WHEREAS the capital cost of the Camnunity Centr ånd related
facilities is $1,568,000.00.
AND WHEREAS it is deemed expedie!1t to borrow fo the
purpose aforesa~d by way of a promissory note a, sum not,
exceeding $262,ØQO.00.
THEREFORE the Council of the Corporation of the Town of
Kincardine ENACTS AS FOLLOWS:
1. For the purpose of paying part of the cap tal
cost of the construction of the Community Cent , the
Corporation shall 'DQrrow by way of a promissory note
from the Treasurer of Ontario a sum not exceed' g $262,,00.00
with the interest at the rate of 8.9% per ann~
2.
Town
notø
That the Mf.yorand the Treasurer on beha '
of Kincardine are hereby authorized to si
for the lean to be effective.
of the
a promissory
3. That this By-law shall be effective on t~ date of
final passing. thereof.
READ a first, second and third time this
June , 1975.
day of
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