HomeMy WebLinkAboutKIN 77 4071 Borrowing By-law
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u.» ...... May 1810.
Ol)t.
M unicipaJ By-law for Current
Expenditures.
21691 Printed in Canada.
... TOWN OF KINCARDINE¡
M unlclpallty of................................................................................................
4071
BY-LAW No...................................................................................................
WHEREAS the Council of the Corporation deems it necessary tKI borrow the 'sum of
. FIVE HUNDRED THOUSAND ------------------~------/xx
...........................................................................................................................................................;..dollara /'
to meet, until the taxes are collected, the current expenditures of the CorpøratiGR: for~yeá:r ¡::
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_.- ..-
-'- -- .' ~-:
AND WHEREAS the total amount of the estimated revenues of the COr¡Îoratión as sð£. '" :'
,/ forth in the estimafes adopted for the year 19.?.~.., not including revenue~ deriVab;Èi(:~·~j~·~:::
^ from the sale of assets, borrowings or issuance of debentures or from a surþlus, inclúding arrears
'NOTE: 1.-,.... . . One Million four hendred and seventy-~ix thousand
aunt 01 lllllmated of taxes, IS ....................................................................................................................................................
,.....u.. ... the d i t -" /
cur..nt~ If .... ----- an s x y-......x-----------------------...----- xx
g~year'":" _. ............................................................................................................................................................dollars.
AND WHEREAS the total amount heretofore authorized to be borrowed this year for
NOTE' I"""'.m- h . t· d . b t· (1) f S t· 329 f Th M .. I A t . Two' "
Dunt 'of provl.... t e purposes men lone In su see Ion 0 ec Ion 0 e unlclpa CiS............................
By..Iaw(s) passed /
... year. Hundred and Fifty thousand-- xx .'. '.
..........................................................................................dollars, of which the Crrporatlon has alrealijt,
borrowed a total Of..~.~...~~~.~.~~...~.~.~...:~~.~!....~~~.~.~~~~....:.:j:.:.:fu.......~ol~a~ . .::=:
. - -- , -... ~
T . . ~'-
THEREFORE the Council of The Corporation of the.........................................~.:.:;.;.;:.::.~ ~/
Kincardine - ..~.~.-_:,:
of....................................................................................hereby enacts as follows:
1. The Head and the Treasurer are hereby authorized on behalf of the Corporation to
borrow from time to time, by way of promissory note, from the Bank ~ Montreal, a sum or
sums not exceeding in the aggregate.....:F..~.y.~...~~~.~.~~...~.~.~~.~~.~.~...::::::::-.:.::::.::::::-.............
---------------------/xx .1.
....................................................................................dollars to meet, until the tIlXes are collected, the
current expenditures of the Corporation for the year, including the amJunts required for the
purposes mentioned in subsection (1) of the said Section 329, and to give¡ on behalf of the Cor-
poration, to the Bank a promissory note or notes, sealed with the corpor4te seal and signed by
them for the moneys so borrowed with interest at a rate not exCeeding....t..?/~.......per centum
per annum, which may be paid in advance or otherwise.
2. All sums borrowed from the said Bank, for any or all of the pur
said Section 329, shall, with interest thereon, be a charge upon the whole
Corporation for the current year and for all preceding years, as and w
received.
es mentioned in the
the revenUes of the
n such . revenues are
3. The Treasurer is herebY authorized and directed to apply in payment of all sums
borrowed pursuant to the authority of this By-law, as well as all other sum borrowed in this year
and any previous years, from the said Bank for any or all of the purposes entioned in the said
Section 329, together with interest thereon, all of the monèys hereafter lIected or received on
account or realized in respect of the taxes levied for the current year and eceding years and all
of the moneys collected or received from any other source, which may lawf lIy be applied for such
purpose.
. 19th '. May
Passed thls..........~.........................................................day Of.V.... ...
COR:œTE .......................¿¡¡;;¡..;, ~
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a_Ie.
I hereby certify .that the foregoing is a true copy of By-law No....!±Q .!......ofThe Corpora-
Town Kincardine .
tion of the................................................of......................................................in th Province of Ontario,
duly passed at a meeting of the Council of the said Corporation duly h d, and that the said
By-law Is in full force and effect.
. 19th May' 77
Dated thls...;................;...............................................day of.......;............... ........................19.........
As witness the Seal of
the Corporation.
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......u~...fr...............
... ëtri:..
CORPORATE
SEAL
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