HomeMy WebLinkAboutBRU 62 826 Borrowing By-law
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WHE;I!..t ..Council of the COrporation of t\le .,....b t> I.. of
. (herein called "the Corporation") d ms it nece_ry to borrow.the
sum oj fS ." ..... to ~t, until the taxes are collected, t e current expenditu~ of the
Corpotation or the year ò"
l~{," in the ·~~2a:P~~~S f::e¿~~~:ri"~ ~~:~~ch.~¡::t~v~~:~~d ~a~: ;;Teri~:~fr~ se~::~
.....--;'.... .~0;7:-~.:~f~:::~7i1i~.... or ;from a surplus includi g arrears of taxes and proceeds
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.'Ç~e Head and Treasun;r are hereby authorized on behalf of he Corporation to bon:ow from
" e by way of promISSOry note from THE ROYAL BA K OJ; CANADA (herem called
". sum III. sums not~ in the aggregate hereunde . III .
I. . " 1m""" - Dollars ($1' ott.) to meet, until the ~
:""::,~ '.' arc e..collected; . '. . . . .. t ex...pe. nditures of the Corporation for the year including the amoun. ts. required
~;fpj-. the purposes ,. in subsection (1) of the said Section 3 . and to give on :~. of the
~tion to the B~!l~lœmi880ry note or notes sealed with t e Corporate seaI·aød ~ed by
the ~and Treasurer ft'N-the.moneys 80 borrowed with interes (which may be pI!ÌIIin advance
or other'i..iireta,t a rate not exceedmg per centunl"""-um.
'C-""~·',>.. ··~i.'·'·'·::"~·· .... .:
Ji':jC,<F 2. All or any'~ .... '. .wtbe aµ~Q1ÌtyOf tI1ja :14w:as well aa aIlodJrer iuma
~':~9w",! in thi~y '.' . .,.. .~.. '.~~..'j(iI.. ' .... . .11.l'tå!ihmèntioned
In~e &aId Section 341 shall, wIth mterest thereon, be a charge upon the whole or any part or part. of
. thé:~ue. of t,h!I~J:1ØI'a~ for th~'current year and for all p . ing years, as and when ø
'jf. reven,*.~ receJVêd.· ... ',., "it:;;;';}'>
30' .. The Treasurer la', and directed to apply in payment of all òt!l.l!)' sums bor-
~ a,£oresaid,' ntettst thereon, all or any of e moneys heJ~collected or
receivetfi""';"on account '. ....... . . t of the taxes. evied for the ~iíl~t year and
precediu&:}.',",;erfrom any othei' '". .1t1$)' law(ully be a lied for, such ~-.
J ",:~..·~,-·.'~:.'~%~~~,r."'" . .; tI 'I"'t" "
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~'~t~~;o:.~d~~_it6r¿:-~t'~.~¡h¡~'{h;r:~
said By~Jaw;-itj.r full force and effect. .
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. .,.o""oC;:;~ ~ri"~! ind% of the èorpom¡on this
day¡¡(-'~:" .,., t. '.
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LR 495 tll·53)
ONTARIO
¿;-' '1';WNIClPAL CORPORATIONS - BORROWI
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BY-LAW
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AND WHEREAS the total amount heretofore authorized to be borroj1Jhis year for the pur-
. .'~ men1;iøned in subsection (1) of Section 341 of the Municipal Ac is $ .. _ , of which
the·Coi'poration has already borrowed a total of $ SIn!:
THEREFORE THE COUNCIL OF THE CORPORATIONereby enacts as follo~í
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