HomeMy WebLinkAboutKIN 66 1937 Borrowing By-law
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ø:\IouORA TIOII OF THE ,'i'OQ OF JalICARDIB,
, 1I'L~,~ .o~~,19tt'
'::'~~:r;i, ;:;~be1øhe
to proT1ü.t_r GoIIs1ørllcU_ o£
a I'1re H.a.&Ð.Q T01B1HaU
, ad.+4:Ln.e:.Q'Ya1â........
.....'f..'J ~he eo1Œ1Ci~ of 1øhe Corpora1øiOD of 1øh
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'a.ac~diU baa ..,. _~aw &U.~horiz" the ccst
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, P:Lre 1f&l1 and~~Ball Building RenovaUons;
IJU) WJnm.1us1~ is deemed exped.ien1ø to born
a '~ no1ø exceeci1nI' 30,000.00: upon the creCil1
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TGWn of
cU_ of a
for 1øhe said purpose
of the CorporatiQJI.
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to be ,raised. by wat of promissory notes.
THQBFOD the C01mci~ of the Corpera1øiOD. of he Town of
J1;ncard,tDe lU.O'fSASFOLI.ØIS:
(1) That a 11_ not exceediDg . 30.000.QO be orNwed from the
BaRk of Itmtr..:1. in the Town. of Kincardime 1'0 the purpose
atoresaid..
(2) !bat 1øhe loan of . 30,000.00 be repaid over a period not
.-ceeding 5 yearllbe1ng l~, 1964. 1969, 1970 and 1971~
(J)'1'hat 5 promta..ry notes 1m the amounts of . 5.000.00,
. Sooø.OO, . 5.000~Q.O, . 7.500.00 and. 7.5 .00 be dra.
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'1i4<fa'Your of 1øhe,-k of MOntreal in the Town of 1t1D.œ.rdine
and. each of the said no1øes shall becoE Que an payable in the
; ~ ;
.:reIilPec1ø1'Ye years. 19'7, 196$" 1969, 1970
',.1 ' ' of the
anniY:enlary I dateG-f.~gning thereof ~
- tlt-l:The Corporation of 1øhe Town of
d 1971 on 1øhe
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e sUl).levy
on., all 1øhe ratea'b3.eproperty in the municipali y "~UJ1t over and
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above all other ~1ø4i!a.sufticient to meet such aymêht including c'-::$;
inte~~
(5) That each promisso~note shall bear in erest at the rate of
~ þet annum;
(6) That each promissory note shall d with the seal of the
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.C.rporation sig\1ed by the head of the council r by some other person.
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.uth.rized by bl'..;Law to sign the same aiad by e Treasurer.
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ONTAIOMuN.J:CIPAL BAORD
File N (). 9700-66
approval Friday July gth 1966 for ~22,OOO.OO
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(7) That tbis by·law shall becOlle effect T8 upon the final
passing thereof, subject to the approval of he Ontario
Municipal Boarcl.
READ a FIRST and SECOND TIME 1øh1s 1øh1rci
<;/~
Mayor Cle
READ a THUD TINE and FINALLY PASSED 1øhis
day of
December
. 1966.
y~
Mayor
,
June, ~966.
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