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Home My WebLink AboutBRU 64 886 Borrowing By-law I" i ! (~ " r, H 1 ' ¡ t , ì 1 ; I 1 ,J -Refer to the eet1m~ "ate& for the ....... .....~ adopted, if DOt. to th... 01 last year. ,I j J ", , ~. " "",~ ;." .......... ! ; ! ~ (", .;::. '- ~ ~ ,~ Form3U(II·53) ~<-- . -"l , G BY.LA~/2...,~L7. ONTARIO MUNICIPAL CORPORATIONS - BORROWI WHEREAS the Council 01 the Corporation of the T Bruse ' (herein called "the Corporation") sum 01 $ 20.00 .00 to meet, until the taxes are collected, Corporation lor the year; sh 1p of eems it necessary to borrow the he ,current expenditures of the *AND WHEREAS the total amoupt of the estimated revenu of the Corporation as set forth in the estimates adopted for the year 19 b''not including revenues drivable or derived from the sale 01 assets, borrowings or issues of debentures or from a surplus includ ng arrears of taxes and proceeds from the sale of assets is $ 240,000.00 AND WHEREAS the total amount heretofore authorized to b poses mentioned in subsection (i) of Section 341 oLthe Municipal Ac the Corporation has.alreadyborrowed a total of ~95 ,000.00 borrowed this year for the pur- is $195,000.00 ,of which THEREFORE THE COUNCIL OF THE CORPORATION hereby enacts as follows: 1. The Head and Treasurer are hereby authorized on behall of the Corporation to borrow from time to time by way of promissory note from THE ROYAL BA K OF CANADA (herein called' "the Bank") a sum or sums not exceeding in the aggregate hereund Dollars ($ ~ 5,000) to meet, until the taxes are collected, the current expenditures of the Corporation lor the ye ,including the amounts required lor the purposes mentioned in subsection (1) of the said Section 3 1, and to give on behalf of the Corporation to the Bank a promissory note or notes sealed with t e Corporate seal and signed by the Head and Trellsurer for the moneys so borrowed with interes (which may be paid in advance or otherwise) at a rate not exceeding per centum per annum. 2. Allor any sums borrowed pursuant to the authority of this By-law as well as all other sums borrowed in this year and any previous years from the Bank for an or all of the purposes mentioned in the said Section 341 shall, WIth interest thereon, be a charge upon the whole or any part or parts of the reVenues of the Corporation for the current year and for all p eceding years, as and when such revenues are received. 3. The Treasurer .is hereby authorized and directed to apply in payment of all or any sums bor- rowed as aforesaid, together with interest thereon, all or any of he moneys hereafter collected or received, either on account of ,or realized in respect of, the taxes evied for the current year and preceding years or from any other source, which may lawfully be a plied for such purpose. .---~~ ~ n :.o:""%ssED this ~ - --~;':~~ SeveJ'!th day of 64 ::: <..:. ~~ (€or€orate Seal) , ?7 r.-- ,- ''''' " We hereby certify that the foregoing is a true copy of a by-law of the above mentioned Corporation, duly passed at a meeting of the Council of the said Co poration duly held, and that the said By-law i. in full force and effect. Given under our hands and seal of the Corporation this day of ft -- 0 t 1c.64. .........a&a c. Se enth , -' ;..----~- . (Co~':Stlal) .::. .~-' -::; .:: ::;¿ '-~~ Ie< ~~ - The Head of the orpora ~ ,. ", , 886 b; , ì I f I I I I I ! .1 I \ ;-~ '"4 " "