HomeMy WebLinkAboutKIN 76 3188 Borrowing By-law
READ a FIRST and SECOND
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THE CORPORATION OF THE TOWN OF KINCARDINE
BY-lAW NO. ->188
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BEING A BY-lAW TO AUTHORIZE THE BORROWING OF 1* 95 000.00
TO PROVIDE FOR THE RECONSTRUCTION OF VARIOUS ST~TS IN THE
TOWN OF KINCARDINE.
WHEREAS The Council of the Corporation o~ the Town of
Kincardine has by By-law authorized the reco~struction of
various Streets in the Town of Kincardine. ;
AND WHEREAS it is deemed e~pedient to borlrow for the said
purpose a sum not exceeding * ~),OOO.OO ¡upon the credit
of the Corporation. i
THEREFORE the Council of the Corporation iof the Town of
Kincardine enacts as follows:
1.
Than a sum not exceeding $ 95,000.00
from the Bank of Montreal in the Town
for the purposes aforesaid.
Ibe borrowed
of Kincardine
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2. That the proportion, if any, received of ~he said cost
payable by the Province to the Town shal~ be applied
against the loan.
3.
The Corporation of the Town of Kincardine shall levy on
all rateable property in the municipalit~ an amount over
and above all other rates sufficient to mþet such
payments including interest.
4.
That each promissory note shall bear interest at the rate
of 10! % per annum. I
5.
That each promissory note shall be sealed! with the
seal of the Corporation signed by the heap of Councilor
by some other person authorized by By-lawl to sign the
same and by the Treasurer. .
That this By-law shall become effective u'ron the final
passing thereof, subject to the approval f the Ontario
Municipal Board. .
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6.
time this 3rd
day þf June, 1976.
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Clerk ;
READ a THIRD time and finally
Sept. 1976.
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¡øtyor
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PASSED this --t6th " ·li~y',?~~.:?:;-'\.
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Clerk
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B 761~22
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Ontario Municipal Board
IN '1'IΠMA'1".rER 01' Sections 63 d 64
of 'lbe ODtario Munici a1 Board Act
(R. .0.
and -
IN THB MA'1".rER 01' an applicatio~ by
'lbe Corporation of the Town of'
ltinoardine for an order appro,n¡nq:
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(a) the reconstruction of cer~n
street:8, at an estimated ost
of $95,000.00 and the bor owing
of money therefor, alld I
(b) the 18suanc::e of the neœs~ary
debentures I
and "olaring and direou.v ~t
the ..sent of the electors of uoh
corporation shall not be requi d
B :I FOR :I:
w. H. J. '.1'IICllNON, Q.C.
Member
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Sep~r, 197&
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Monday, ¡the 13th day of
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D. S. COLBOURNI,
M-mhAr
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'BIB BOARD OJIII'fI'RS that this applicetion ~ granted and
that the applioant aay proceed with the teooDstruot!on
of:
1. Kinq Street fran Huron '1'8rraoe Str t 1:0
SohevoheDko Boulevard, a distance 0 approximately
1,550 f_t
2.
3.
West Str_t fran Nelson Street to N rth Lilli t:8,
a distanae of approximately 900 f_
Campbell Cresoent fran west Street tlo Easterly,
a dista:aae of approxiaately 200 f_t¡
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Nelson Street fran Huron Terrace S
West Street, a dista:aae of approxi
5. Mechanics Avenue fran Huron Terraœ
west Street, a distanœ of apprQÜa tely 500 feet
6 . Willi_ Street fran Broadway Street ¡to Northwards,
a distance of approxi..tely 250 fee~
4.
7. Mechanics Avenue fran Princess Streeit to Willi_
Street, a distance of approximately 1400 f..t
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B 111022
uc1 -r p~ all nq1d.sU. by-law., a. .ay J....
a.b..ta... theretoZ' for a .. 80t excee lD J ft' ,000 .00
ADd IIOt to _GMCl the ne1: coat of suGh
taJU.1I9 W
tile appl1aat:, ~r a _øa 80t to exceed fifteen years.
C. JAJlDYMA
AC'fIRG '.~'aØ
0. 8. rto.L:t."-::.~.._..,...
FeIlD JIø...~.~j................
SEP 27 1976
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