HomeMy WebLinkAboutKIN 44 1382 Borrowing By-law
L.F.2Ø Rov. March, 1938.
. Oat.
Municipal BY-law for Cum,"t
Expendltu....
&4306 """loll In CInada.
"¡r..!-
f
1. j
, ,
, .
Municipalityof......%UUI...QÍ..J,i . .1f,¡, IL..................
BY-LAW No............~...,..'-...~!......... ..................................~...
A BY-LAW to authorize the borrowing of ,......~.~.~~.~.~.. ......................................
I
¡
I
I
(..
f ~
L··;·
t·-!··
,
ti
r ¡ fohhin'~mates adopted for the year 19.~.. not including revenu derivable or derived
!¡;"fIOTE'I_ta... ·f"''"'- ." of taxes b :>"'1 d . of d be tu .. --",tIII ............
.' .¡...m"; _114 . ...." a.realS ,. orruw ngs an ISSues e n res IS ............ ..... .;...."'.............................
J··.·Jiti:Š'l! =.:::::~!:~.~...~~~.!~~..~~...~~~.~~~~~.::.:::::.:::.=::::. ....:::~.......dollar8.
t··1
k ;' . AND WHEREAS the total amount heretofore authorized to be rrowed this year for
r ".--"', . . .
l ·tµ!!lE:",I~ thepurpoáeS mentioned in subsection (1) of Section 339 of The Municipal Act is............................
, ,::1';:"'.(0) .- . .
r '. ~._. 111"""1'1"'8 thoueand-------..-u . .
t. . ", ........¡................................. ......................................".........dollars. of which the rporation has already
I'
r .
h,c
1 '\.\
I I,."
WHEREAS the Council of the Corporation deems it nec:amry
borrow the sum of
ANiD WHEREAS the total amount of the estimated revenues of
Corporation as IBt
..n(.,~!i.....~~.~~..~...~t~.;.~..=.~:::-:::::~.=::':~.:-:.~.~.~~~.:..:':~=::. ..~:::~............dollars
to meet, until the taxes are collected. the current expenditures of the Cor ration for the year;
. Jtll
borrowed: a total of........................................................ ............ ............ ............ ..... ..... ......... ........... .dollars.
. T
THEREFORE the Council of the Corporation of the..................... ......................................
of ............,...}~!!!=.!:t9..!!!.....................................hereby enacts as foilo :
,
t ¡..
¡ ¡
¡·.i·
I {\¡
! . ~~
1" !
, '.
I i
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 f Montreal, a sum or
sums not exceeding in the aggregate.....:!'M:~.l.~!.!!.~....~!!!.!~.:... ..........::'.~:::::=.;,........
..·,....J¡jI·..-·.:..d·......-----------ø d II t t ...1 th
........_................................................................ 0 ars 0 m88, unu e
are collected, the
current expenditures of the Corporation for the year, including the am unb required for the
It .
~~~,~-"'"~,~
l~:~'"
, "
r ..-;~~:¡
,
I
¡
i
,
purflO8BSmentioned in sub88ction (1) of the said Section 339, and to give on behalf of the Cor-
- -. .
'. ,"."811.,tlhtll&Ballk a prolllÎSSOrYllOte.or 1IOtes, sealed with the cor te 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 advanœ or otherwise.
..,.....,...,,~
.
"
í
I
l.
. .
I
~i n
;t ,
,
il
r
! .
I ,
I
i
j'> ,
,
I
, ;;
~
f L
I b.
,
,
¡ ;,
if
t 0
iI
I
¡
t
!
-'331101
~286, R.8.0.
.037.
. Current
barrow.....
t
,
j;
I'
: .
¡.
¡.
I
I.
r
I
Umlt upon.
. barrow.....
::ø1~:l
or.Uma"
of _I..
-
Exotualon
from eaUmated
·,.,reWllueI.
2. All sums borrowed from the said Bank, for any or all of the pu pG88B mentioned in the
said Section 339, shall, with interest thereon, be a charge upon the whol of the revenues of the
Corporation for the current year and for all preceding years, as and en such revenues are
received.
3. The Treasurer is hereby authorized and directed to apply I
borro'i@ld pursuant to the authority of this By-law, as well as all other su
and any previous years, from the said Bank for any or aU of the pur
Section 339, together with interest thereon" all of the moneys hereafter
accoùnt or realized In respect of the taxes levied for the current year and
of the moneys collected or received from any other source, which may la
purpGIB.
a."..-. I 44
Pa888d this... ............. ............................................ ........day of................... ................................19....
/I fl· 4'· ~
.......... ...:t!:~.. no ............... .. ................................. ....
(The Hood'" ~)
payment of all sums
borrowed In this year
mentioned in the said
llected or received on
receding years and all
lIy be applied for such
CORPORATE
SEAL
As wit.- the Seal of
the Corporation.
...............................................................................
OJ....
I hereby certify that the foregoing is a true copy of By-law No.~.... .~...... of the Corpora-
'ilia .~ 1r~"~v41M '.
lion of............................................................................in the Provmce of On rio, duly passed at a
IllBétln :of the Council of the said Corporation duly held, and that said By-law is in full
, force and effect.
. . ' :£Ul.1Ih . - '. ' ,--.. 44
Dated thl8.........................................¡..................day of.......................... ........................19.........
CORPORATE
SEAL
EXTRACTS FROM THE MUNICIPAL ACT A.B.O. 1937
(1) 'A council may byby.law either before or afI8r the pMSina of the by-law fo
current yearauthoriæ the head and treasurer to bonow from time to time by way of
the council may deem neœosary to meet, until the IaXIII8 are coIloc1ød. the cunent ax
for the year, Including the amounts required for sinking fund, principal and Inløtest fa/II
any dfirt of the corporation, ICbooI purplllllll, special ratss purposes, and for any
other purplllllll for which the corporation Is required bylaw to provide.
(2) The amount which may be borrowed In any year for the purposes menti
except with the approval of the Municipal Board, exceed se...nty per œntum of the to
revenues of the corporation 88 set forth In the estlmatss adoptad for the year.
"(3) Untll8tlch selimatssare adoptad,-the limitatIOn upon borroWinG pl9l!Ciibed
porarlly be ca/cuiatad upon the estimatad re_use of the corporation as set forth In
,next precedinG year.
(4) F:orthe purplllllllofsubsectlons2and3estimatad re_shall notlndude
from arrean of IaXIII8, bonowlnas and issuse of debenturse.
Imposing the rates for the
ry no1e 8tIch sume IS
turea of the corporation
due within the year upon
. commleslon or body and