HomeMy WebLinkAboutBRU 60 781 Borrowing By-law
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ONTARIO
MUNICIPAL CORPORATIONS - BORROWING B -LAW Ito': 781
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W»¡;REAS the Council olthe Corporation of the Township of
....0.. . (> (herein called "the Corporation") deems t necessary to borrow the
811m of $ J'D'ð". - to meet. until the taxes are collected. the cu nt expenditures of the
Corporation lor the year;
j .!leI.. to · AND WHEREAS the total amoupt of the estimated ..evenues of th Corporation as set forth
I ~'I:'::". in the estimates adopted for the year 19f>Q not including revenues derivabl or derived from the sale
triJ' .."" ¡' of assets, borcowinga or i_ of debentures or from a surplus including ar are of taxes and proceeds
..' . =pted, from the lI81e ~ aaets is $ 125 J 000.00 ;
. taM, to ,
i \{- ..~. AND WHEREAS the total'àmouM heretofore authorized to be borro ed thi8 year for the pur-
. . poees mentioned in 8U~tÌQ!I 0.) oiSection 34,1 of the Municipal Act is $ nil . of which
·...Corporation haaalready borrQwed a total of $ nil :
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i ...IM rl')J¡ITTi1i¡"'~CILOFl'BB,coaPORATIONhete
C-.a·feIIows:
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1. The Head and Treasurer are hereby authorized on behalf of the C 'poration to borrow ÍI1!III
,.~toø-Þy way of promiøsory note from THE ROYAL BANK OF QNAI)A(ben¡ia called
\:/~E 8um8 n~exceeding in the aggregate hereunder .
::. . "" . · - .- - Dollars ($ J!#"'Ø" to meet, until the taxes
:.-...... .............' e cu nt expendItures of the Corøoratíon for the year, mclu mg the amounts reqUIred
;.-:..... .tœ...· mentioned in subsection (1) of the said Section 341, and to give on behalfO.f the
': ...: . " t$ the Bank a promil!8Ory note or notes sealed with the Cor rate seal- and øi¡nf¡d by
. '.: ea4aQd Treilsurer for the moneys so borrowed with interest (whic may be paid inidvancè
01"" ~¡.) ~ a rate not exceeding per entum per ann-.
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as well as all ok 8ums
the~ 11' .mentioned
te...y part or parts of
~ 88 and when suçb
, WIth interest thereon, be a charge upon the w
'før the curren.t year and for all .
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··.·~l¡~T~"ar~:a~d~~;~~~t)1~.~~I:.a::'¡ ~n&:ym
recei~.~.on account of orr~IM_..r,..:.'..~..of.. the taxeø.le~ed
.c.,precedmg ~,or from any other source. '., . .c· . ".\dully be applied r
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t of all or~"bor-
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or ~eøneRt year and
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_f~~p'this ~¡¡i It>;·.·
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c\¡¡.y.ot: JanUa17
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We here5y ~ dlat the foregoing is a true copy of a by. ¡¡'
~tion. jþ¡1ý passed at a meeting of the Council of the said Corporati
said By-la'-".jø.fuU .force and effect.
of the above mentioPed
duly held, an4..w.t the
'"' Given UI1ÛIIt. hand8 and seal of the Corporation this
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d~,Q(.rp.uar;r 19 60
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