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HomeMy WebLinkAboutKIN 70 2141 Borrowing By-law c THE CORPOR.tTIOIf or THE 'fOWIf or KINC IRE Bt-LAY NO. 21lt1 BEDlG ... Bt..LA1J TO AUTHORIZE THE R:lRROWING $~?~.!.ooo.oo TO PROVIDE FOR THE PURCHASE or .. r.1.U PUMPER. . 1II{ERbS purauant to Section 379 (1) Paragra h 21t of the Municipal Act by-la.. may be passed by Municipalities for t e purchase of Fire I ~ . . {.. Engines, Apparatus and Appliances. WHEREAS the Council of the Corporation of t e Town of Kincardine has by resolution autborised the purchase of a fi e pumper; AND WHEREAS it is deemed expedient to borro for the said purpose a sua not exeeeding $29,000.00 upon the edit of the CorporatioR; NOW THDEFORE the Council of the Corporatio of the Town of Kincardine ENACTS as follows: 1. The Corporation of the Town of Kincardine i hereby authorised to purchase a fire pumper at a cost not exc eding $29,000.00 2. The Treasurer i. hereby authorised to borro an amount not exceeding $29,000.00 froll the Bank of Montr 1, Kincardine for such Purpose pending sale of debentures as hereinafter set out. 3. The Town shall borrow $2.9,000.00 by the sal of debentures repayable oyer 10 years bearing such rate 0 interest a. may be established prior to the sale of suc debentures and the proceeds fit which shall be used to pay ff the interill borrowing frOIl the said bank. The Corporation of the Town of Kincardine s 11 levy on all It. amount oyer and the rateable property in the .unicipality abon otlutr leTies aReI. aufficient to ..et t e annual payments including interest on the said debentures. 5. That this By-law shall beeoll8 effectiye upo the final passing thereof, subject to the approval fif the On rio Municipal Board. READ a FIRST and SECOND ti.. this -......- ~ - "~- ~'"'- - / -". , - _.-: 2~-''" ~ v:.. .~/ --_ sixteenth day o! ,;ju~ L 127ft ~ - -=-~ -. -... ":"' -.::: -.. -,¡ ~ -. '." ......~ -......".. '- ~~~ ~~~ Head a third time and finally passed this September , 1970. ~---:~ .~":-;-:- _w___- 17th day of .-' 2:·-;;- ~_: -:;<~>--_ ~ ....... ....... :. ~,- ~ s:; ::~: " -..... ...;;.. -.:; - ::;: -./,.2 <",.... ",' _,:,w,'~ .~-':'-:'~~:'; ---~-??~~~- ,- ...lIlIIII Clerk