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HomeMy WebLinkAboutKIN 75 3095 Borrowing By-law . . THE CORPORATION OF THE TOWN OF KIN CARD E BY-LAW NO. 3095 . , 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 .' N~ ~7~~---- ~..// - ;/ ~-~ v~ w. ,'__ :- we:" .....:. : -::- ...... - -, -.. - ~-..... -. . '- "- - --,; ;0 < \~, v '.