HomeMy WebLinkAboutBRU 63 846 Borrowing By-law
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LE 49$ (11·53)
4)NTARIO
MUNICIPAL CORPORATIONS - BORROWING Y -LAW
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WHi!R1i:AS. the Coun«:il of the ~tion of the T01fD.Sh p of
.~. . (herein cáIIed "the Corporation") dee it necesoary to borrow the
sum oq 7. 5,00&¡00 to meet. uncil the taxes are collected, the urrent expenditures of the
CorporatlOll ior the year;
~ Corporation has already borrowed a total of $ :
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;T~,TH1i: COUNCIL OF THE CORPORATION h
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1. The Head and Treasurer are hereby authorized on behall of the Corporation to borrow from
time to time by way of promiesory note from THE ROYAL BANK F CANADA (herein called
'., "the Bank") a sum or sums not exceedingÍII the aggregate hereunder .
T,.f;'..event;r.-f'l'fe 'fhou..nd . Dollars ($ 75, OO~ to meet, until the taxes
';;C. colIectëd, the current expenditures of t\e CcIrporetion for the year, an ludang the amounts requiNd
M'~.purposes mentioned in subsection (1) of tile uid Section 341, d to give on behalf of the
~ to the Bank a promissory note or IIÐte8 sealed with the ate seallL!1d Jiped by
the '":!~~.reàs.~.. U. rer for the moneys 10 ho..;)\Hd with interest ( icma.y be. )IÙdinadvance
'. or oth .' '. ..... .lJOt exceeding . ~. _urn.
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I *fZ'iWt.; ;'~t:~¡~~f~1I f~rce ~d eff~~.:
j" ",. Given un~""$l( ·..rtJ~9 seal of the Corporation this
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'£. Allor any sume'_Ü.,!Ld pursuant to the authority of tbis By law aa well as all other su-
b lU ..d in this year and any ~e.1 r '1 ~ ( .., BMk "'øy., «dItt JtI1I .." I ti.)bed
in ~ction 341 shall, WIth interest thereon. be-áê'fiäfgè upon th whole or any part or parts of
the .. ~tM Corporation for the current year and for all ping years, as and when such
. revenues ai9i ,] Jii 't.i:" . , .
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recetced-:_....on.....~ou.nt oftorh 'r-.fI.!ìI .~pect lo..f tfh¡e t~esle. edfor·,..theh current year and
pre mg..." ·,......m any 0 er sourœ;may aw u y "" sue purpose. .
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.. ,PASSED th.)<~. .
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-law of the above mentioned
_~~_.that the
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