HomeMy WebLinkAboutKIN 78 4116 borrowing by-law
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Ont.
Municipal By-law for Current
Expenditures.
27691 Printed In Canada.
Municipality of.............. 1'.Qj'!:Q...9.f.... .~JD.g.ª.r.~l:!:D.~............................ ....
BY-LAW No.............../¡,;!.,;¡..g.................................I.......................................
WHEREAS the Council of the Corporation deems it necessary 0 borrow the sum of
.............................f.IY.~...!f.1J.~.ºM.P.....¡::!:!9.!!.§.~~p.......::::::::::-.::'.::'................... ............................doUars /
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to meet, until the taxes are collected, the current expenditures of the Cor',oratior¡ for t~!éari::. . -: :
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AND WHEREA~nhétó'talamount of the estimated revenues oßhe Corp6ratiÓñ as..ss1,}'.!
~ . - + - - .~ -
forth in the estimates adopted for t~e year 1:...7.g, not including reve~u s derivab1êÒrd"eriJea-'-
from the sale of assets, borrowings or issuance of debentures or from a su plus, including arrears
~ '':''':; of taxes, is·......9.~~..~.!.P~~.Q.~....f.º.~.!!-....~~~p.~.~.J?...;~.~.p.....~~y.~.~..... ...=~.!.*...~~.~g.?.~~~.
18 for the I
~ '~ ........~.~.J? ..~.~P~_~.~!.. 7.:.:.::.::.7.:.:.:.:::::.7.:.:.::.::::::::.7.::.:7.:::::::::.:.::.::::.............dollars.
AND WHEREAS the total amount heretofore authorized to be borrowed this year for
:oIl~ the purposes mentioned in subsection (1) of Section 329 of The Municipal Act is.....F.J.y.~........:...
~ ...... .........Jn~þ..ç\r.~.g...:!<hº.1U?ª)'lç\::-.::'.::'.::::::::.................dollars, of which the torporation has alreadY' -::.-. :
borrowed a total of 'MIT ----------------------::1--- ,,^II~"-
.....................+1..""'............................................................................................·...u>"'~
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THEREFORE the Council of The Corporation of the..............r.9.~.11..........................:-.........:.,:: .~-j
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Of.....~.~.~.Ç.~~~Q.:.::..~~~.~~~..;.;~~~:~~;..~.;~..~~~~::r::h:~:: :: f:~:! :Of the cor~orati~n ::---
,
borrow from time to time, by way of promissory note, from the Bank lof Montreal, a sum or
sums not exceeding in the aggregate..........n.y.~...!N.I'!.!?!:t~p....~.!f.Q.V..S..~f.P......................................
......................... .. .......................................................dollars to meet, until the ltaxes 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 9iV~' on behalf of the Cor-
poration, to the Bank a promissory note or notes, sealed with the corpo~ate seal and signed by
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them for the moneys so borrowed with interest at a rate not exceeding..Lªl.............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 purposes
said Section 329, shall, with interest thereon, be a charge upon the whole of the
Corporation for the current year and for all preceding years, as and when su
received.
ntioned in the
evenues of the
revenues are
3. The Treasurer is hereby authorized and directed to apply in paym nt of all sums
borrowed pursuant to the authority of this By-law, 118 well as all other sums borro ed in this ysar
and any previous years, from the said Bank for any or all of the purposes mentio ed in the said
Section 329, together with interest thereon, all of the moneys hereafter collected or received on
account or realized in respect of the taxes levied for the current year and precedi years and all
of the moneys collected or received from any other source, which may lawfully be pplied for such
purpose.
Passed this........................f..tf.~p................................day of.......~~~!:I.~.~.
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OORPORAn
8PI.
I hereby certify that the foregoing is a true copy of By-law No.Atllll........ The Corpora-
tion of the............!2.~.~.........................of................~!.~.~~:.~.!~.~..........in the Provi ce of Ontario,
duly passed at a meeting of the Council of the said Corporation duly held, an that the said
By-law is in full force and effecL
Dated this..............f.:Lf.1¡lt.......................................day of..............;¡!H.1;~.ª.r.Y.... ............197.ª....
As witness the Seal of
the Corporation.
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oolPORAn
SEAL