HomeMy WebLinkAboutKIN 77 4033 Borrowing By-law
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L.F.18 Rev. May 1960.
Onto
Municipa.l By~law for Current
Expenditu res.
27691 Printed In Canada.
Municipality Of...........!.~...9!:....~.P:~9.!!:~P.~...................................
4033 .
BY-LAW No...................................................................................................
WHEREAS the Council of the Corporation deems it necessary to borrow the sum of
. TWO HUNDRED AND FIFTY THOUSAND ----- x
..............................................................................................................................................................dollars
to meet, until the taxes are collected, the current expenditures of the Corporation for the year;
- AND WHE:REASthe total amount of the estimated revenues of the Corporation as set
forth in the estimafeš adopted for the year 19..?6, not including reventes derivable or derived
, ~~TE~ I~~ ::o:x:s: :~~.~~;;;~~.:.~~o;~:~.;~.:;~;,::.~.;:~.~.:~;.~.:.:;::~t:~~:~~:.~:.:§:.::~~
revenues for the , I
~r~ Wt~ ...........)~·.Il~....~.~.~Y.::::~J~............................................................................. .....................~.....dollars.
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_-:~.... Jl:NIJ" WHEREAS the total amount heretofore authorized to b borrowed this year for
_~_--..:.--:::--._,....~_....-~A......_:_ //
~~iE:.f'"'~.¡i~· tI'\~:purp~es ~!()/1ed in subsection (1) of Section 329 of The Munici I Act is........N.I1............
By.. aw(s> ÞUS'IJItI."....- "-::-= -- ~
thleyear; ..- - - -'- -. - ---
. : -: :.....::...~...::;..:.:...;..:.;.........................................................dollars, of which the Corporation has already
-~ -"
: borrowed a total of..........................NIL...........................................................L.............................dollars.
THEREFORE the Council of The Corporation of the...............r.9.~......................................
of.................J!JJ)..ç;.ªJ:9;i...TJ.~......................................hereby enacts as fOllols:
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 BanJ of Montreal, a sum or
sums not exceeding in the aggregate............Iw:o...hJ.md.r.ed...a.nd...íif.tJ!"...:t.J:IO.USand.........
...........................::'.::-.:::::-.::'.:::::::-.::-.::-.::'.:':.......................dollars to meet, until the taxes are collected, the
current expenditures of the Corporation for the year, including the amounts 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 corpprate seal and signed by
them for the moneys so borrowed with interest at a rate not exceeding,...9.;Ì...............per centum
per annum, which may be paid in advance or otherwise.
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2. All sums borrowed from the said Bank, for any or all of the purpo es mentioned in the
said Section 329, shall, with interest thereon, be a clíarge upon the whole of the revenues of the
Corporation for the current year and for all preceding years, as and whe such revenues are
received.
3. The Treasurer Is hereby authorized and directed to apply in p yment of all sums
borrowed pursuant to the authority of this By-Jaw, as well as all other sums b rrowed in this year
and any previous years, from the said Bank for any or all of the purposes m ntioned in the said
Section 329, together with interest thereon, all of the moneys hereafter colle ed or rsceived on
account or realized in respsct of the taxes levied for the current year and pre ding years and all
of the moneys collected or received from any ·other source, which may lawfully be applied for such
purpose.
Passed this....................~.!~h...................................day of......clª!1hª-... . ....................19.1.7...
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CORPORATE ....L.......~....~........~..L.!........... ................................
8.EAL (Tho Hood of tho n.)
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I hereby certify that the foregoing ia a true copy of By-law No.....~g¿¿. ...of The Corpora-
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tion of the·............J.'Q!:m........................Of............~n.Q¡¡.xiUœ...............in the P vince of Ontario,
duly passed at a meeting of the Council of the said Corporation duly held, nd that the said
By-law is in full force and effect.
Dated thls..................Sixth....................................day of........Janua.:r.¡;.. :................19..7.7...
AI witness the Seal of
the Corporation.
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COAPOIIATE
lEAL
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