HomeMy WebLinkAboutKIN 61 1780 Bank Loan BOM
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COBPO~ION 01" 'l'HE ~OWN 0" tIN rm:
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Br-UW NO. ~7šO
~ :sr-UW TO .I.U!'1IOJUm: 'fBB OBTAmING o:r ~
:êANK. oj JlO~:t, TÒ'PAY FOR. THi CoST OF'ERE
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OVœ. 'lEX ~.aiM.rANGOø' Bmœ. . ON' BUfLcmT.T. $'I'R¡C¡¡~
O#ima.umru.
FR.œ mB
IRa Å BRIDGE
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1nmRR4B mIK JÐmioipal CoQD.oll ot the
~"Q):r KinÖardine haa authorized the Canst
rporat10n at the
uGUon ot a Br1dge
GT~ t1le hn.t~ore :B1...._ on Jlussa.ll Stree in the, 'fOWD. o:r
.. J ,I
KinCN!dine ..t an estimated. oost,. or NINETY EVEN THOUSAND FIVE
51
HUNDRED
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AND 'IHERIüS 1 t is deeme4 ..dvisable
tor .. "loeñ tó pq tor the oQst or said Bri
ree wi th .. Bank
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AHD'~8t~æ4S the rateable property of
1a..'~2..Õ25..00' ",
AN:D WRIIIVTC-.t'\~ exlatiDa debenture deb ot the Jl.un101pality
1& 1475.i85.2?· .
:am I'f 'nJ:IBIi:FOB& ENAarED by 011 u tollows.-
- -
l~ 'IlŒf,th,. Counc1l ot the CorporatioD. 0
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s:bal~' bòr~.t..tb.e Benk"'~ Montreal
'tHOU_dPEdollars <197.5óÒ.Oa
ere 17\1ng ....br1q. over the penetangore R.1
in the said 'fown or Kin88.rdine.
'lihe Town or Kincardine
. .
um ot NINETY SEVEN
or the purpose at
on Bussell Street
,
2. 'fhe ltayor ant !:ree.aurer of the Corpo
. .
authorized to obtain a loan of H:tNETY S THOUSAND.
FIVE HUNDRED .
:Dollars (I 97.500.00 ) trom the Bank t Montreal. secured
bf .. proaialilO~'·.te or nous or by wa:y ot overdrat~ or otherwise
not. axceed1ngin II.tlthes\¡DI. ot NIÞfETY SEV THOUSAND FIVE HUNDRED
Dollars (197,500.00 ) to meet the 0 at. at the said Bxid&e.
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3. ~ PromissQrT note or not.e-a.., or other v uehara seal.a. with
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the Còrporate see.1. ana. signed on b.~l;t or the Qor,poraUon by the
Kayor and'lreasurer thereof tor the advan tram time to time
o.t&1nea. \Uul~ the authority hereot and i tarest ther.~ a't Uft
ana.one..hal:t".-r_t pet- annua~;r be giv n ~ the ~l Be.nk<'ij~fl
~v1ding tor the repa:ymeht or orrepresen ing};~,~4 advan..~~
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, with '1a.areit1õ .1:,.1'eol1 as afo~d.
it. the 'r1j8~~r" ot lõJu¡' COl'pOra,1õ1øn1. .1MJ
&lid d1reclõed 1;,0. a.PJ!ly first. in ~ya8l11õ of s h~Yanc... with
_'C/",
1110ftll1õ th"~D.âj"a!D'I'8.a1dal1,aoneys bo roW4 on lõhe credit'
the CorpQraii<ilato repay 8uch advance. a to liet~y lõhe COB\
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said btJ"lllf:4;l.&'. aDda.l1 aoneys tI'Oll rso\\1'Ces properly
to . co.io of the said work.
'*¡hty Jl8.r~".,~of 1;he ,pri.llcipa~.Qf 'the ·,....,1_111_11 be
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repa1(i. on lõbeJ1~tday or July A.D.. 1962 'the balance
of itbesaid Prtnèipal sua aU be repayable of fiTe
,yearsineq~ qaUalinaWlaeD.ta of four lõhereof 1n ....
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of itbe 1~~_'196"l96.,~S, 1966 and 196 .
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·ó. 'thia.,'. By.låw6all take etfect _11 app
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Boa~ot 1:,he .f:rovÛ1ce of 0C11¡¡u·10.
by the Municipal
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~,B:QÐ a firslõ aDd "00Dd 10_ 't!:ij,s ..~ d.
A.D. 1961.
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APþrOV.lfÞi....,QitariO M1mieipaÌ Boa
Wed!ileSdft~r~~u.~ day or Oc'tober, 1
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File P.F.E.7?61.6l
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VAVW
THE ONTARIO MDICIPAL BOARD
IN THE MATTER OF Sedt10ns 6)
and 6~ of The Ontario Mun1ci~
BOARD ACT 1R.S.0. 1960,c.274)-;-
-and-
IN THE MATTER OF an application
by the, Corporation of the Town of '
Kincardine for an order ' ,
, (a) approving the construction
of the RusellStreet Bridge
'.(b) over the Penatangore River,
approving the repayment or
the sum of $97,500, being the
estimat.d cost thèreoró out or .
current revenue,. $78,0 0 during
the year 1962 and $.3 900 in
each of the years 19&.3, 1964, ,
1965, 1966 and 1967J and
(c) declaring and direoting that, the
assent of the electors of the Town
of Kincardine or those qualified
to vote on money by-laws shall
not be requisite to be obtained
to the passing of by-laws for the
purpose aforesaid
BEFORE:
W. Greenwood.
Member
- and - WEDNESDAY, the ll~h
J. Jamie.on
Member day of October, 196
p.P. .1267..61
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THIS application having oome on for public: hearing
this day at the Town 'of Kincardine, and it ap earing that.
notice of the said hearing had been given in coerdancewith
the directions of the Board~ and upon hearing the evidence
adduced and what was a11egea on behalf of the applicant,
, THE BOARD ORDERS under and in purs nee of tn.
legislation her:l.nbèfore referred to, and of y and all
other powers vested in the Board~ that the sa d application
be and thlt same is hereby grantea, and that t e Corporation
may now proceed with the said projeot, and ma pass all ,
requisite by-l. awsr" , provided.z however, that $7 ,000 shall be
paid in the year 962 and $),900 in each of t e yeare 1963,
1964, 196', 1966and 1961 out of current reve :\18,
AND THE BOARD DECLARES AND' DIRECTS hat the assen1õ
of the electors of the Town of Kincardine or those
qualified to vote on money byplawa' shall not requisite to be
obtained to the exeroise by the Corporation 0 the powers
aforesaid.
[SEAL)
(B. Viokera)
AC TING SECRETARY
ENTERED
OeB.'No. E27
Folio No. 1.31
Oct 16 1961,
(B.V1c'ers) B
Acting Secretary Ontario Municipal Board
.
Date///I (7dl AI
Original of above to Bank 0
relf: - By-Law No. 1780
Montrea1
COP Y