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Home My WebLink AboutTWP 67 02 Borrowing By-law v ~ e · -Refer to the esti- mates for thec:ur- rent year !f adopted; Ü Dot, to thooe of last year. · ~ -.' - - .... :....: - ,- · ~ - # ¡ 7-.. ~'-----' . ~ ,ONTARIO MUNICIPAL CORPd'RATIONS - BORROWING WHEREAS the Countil of the Corporation of the !Ow.~ Form M8 (6-65) V-LAW of ~A__~" (herein called "the Corporation") deems it necessary to borrow the sum of 143.'00. to meet, until the taxes are collected, the current expenditures of the Corporation f r the year; "AND WHEREAS the total am~l1t of the estimated revenues of th Corporation as set forth in the estimates adopted for the year 19 fT{, not including revenues derivabl or derived from the sale of assets, borrowings or issues of debentures or from a surplus including a ears of taxes and proceeds from the sale of assets, is $ 2Oe.000. ; AND WHEREAS the to(al amount heretofore authorized to be bo owed this year for the pur- poses mentioned in Section 329 of the Municipal Act is $143.'00. ,of which the Corporation has already borrowed a total of $ : THEREFORE THE COUNCIL OF THE CORPORATION her by enacts as follows: 1. The Head and Treasurer are hereby authorized on behalf of the Cor ration to borrow from time to time during the year in accordance with the provisions of the said Secti n 329 by way of promissory note from (herein called "the Bank") sum or sums not exceeding in the aggregate hereunder a.. hDa4boa~6 ton.-thlNe ......Ii.... ~... __ DõOãra{$'i4,-.1 a) to mee"t, uìiffi tile tax areëõlrected, the current expenditürëšõrThe Corporation forflie ~~ r, mcluding the amounts req ired for the purposes men- tioned in the said Section 329, and to give on behalf of the Corporation to the Bank a promissory note or notes sealed with the corporate seal and signed by the Head and Treasur for the moneys so borrowed with interest (which may be paid in advance or otherwise) at a rate not exc ing per centum per annum. 2. All or any sums borrowed pursuant to the authority of this By-l w as well as all other sums borrowed in this year and any previous years from the Bank for any or all f the purposes mentioned in the said Section 329 shall, with interest thereon, be a charge upon the who I or any part or parts of the revenues of the Corporation for the current year and for all preceding yea ,as and when such revenues are received. 3. The Treasurer is hereby authorized and directed to apply in paymen of all or any sums borrowed as aforesaid, together with interest thereon, all or any of the moneys h eafter collected or received, either on account of or realized in respect of the taxes levied for the curr t year and preceding years or from any other source, which may lawfully be applied for such purpose 4, The Treasurer is hereby authorized and directed to furnish the Bank t the time of each borrowing with a statement showing as at that date the nature and amount of the esti ted revenues for the current year where the estimated revenues have been adopted for the current year, or of the estimated revenues for the previous year where the estimated revenues have not been adopt for the current year; the nature and amount of the uncollected balance of the estimated revenues; he aggregate of borrowings made in the year under the provisions of the said Section 329; and the tot I of any borrowings made in the year under the said Section 329 which have not been repaid. 5. The Bank shall be entitled to rely as to the authority of any borro 'ng on a copy of this By-law certified by the Clerk and on the statements furnished to the Bank from t' e to time by the Treasurer pursuant to paragraph 4 of this By-law. 6. This By-law shall remain in full force and be binding on the Cor ration as against the Bank, until a copy, certified by the Clerk under the corporate seal, of a By-Ia repealing or replacing this By-law, shall have been received by the Bank and duly acknowledged by t in writing, !'~~~~ this 1i1a'IL day of .r".17 1961, " -..... _.....~ " -, " ~ TbeH ,- - - , _..1 í,¡;:ortft:>rat~,se"l) ~ _.~. ".'. We hereby certify that the foregoing is a true copy of a By·law of - Mtion,. dwy passed at a meeting of the Council of the said Corporation By-law is in full force and effect. Given under our hands and seal of the Corporation this day of l"UI7 1967' ..~-.I":---::~-......... ;: """.......",:. - ........ " ....... --.- "" ~. _:(Corpor1J:e~ ~ - -- .... ..... .:.:: ---..,...".. -.:"...., .,..-':'~~- -~./ - :"- " d of the Corporation lj~ Clerk he above-mentioned Corpo- uly held, and that the said - - u ..- .- ..~ , . -" '..r_- c.... -. .,.,'.:.,z,,' -"...."a,.: ..: .......UO(0065} -':"T!.':,;'<¡¡;';,-- - e ONTARIO .. . .... .... .~IÇþ\&f.CORPORATIONS ·S'tA~·BY TREASURER RE JIDRRO\V ....... ...-...:,.....'..,.....,..-..,. _-'-:,:-:,-":%i,~::.}'0::,' ..".~- ~I~\3.~$~~~r:;: <1M -.,.1 JIaak..r ð..~"'t ·,,"'"n-·ttl.o... (boorÌ :;.;" of ~_I- Re: 1$eCorporation of the . ............... '.' ....... ...' . ~ ~e Provùice of Ontario (hereinafter called "the Corporation ") of I hereby certify that tI1efG~~ statements are true and córrect as f thi,date: -' , ~.-._ " ",_.:i;".:...:. .c;¡.~H,_j;i':-~ ~~atøø of thei~ti~~?~~ent year ha~ (not) n adô~," adoptod} 2.: The nature and amount of the estimated revenues of the Corpora ion (exclusive of revenues ¡::.;-t. ~vablec~derived from the sale of aeæ~, borrowings or æsues of debenture or from a surpl~including == urears of taxes and p;'oceedofrom the sale o\a!lØets) set forth in the estimates of the CorpOt"ation adopted ~'¡-~,,~the year 19b") are $ ", I ).V") ~; ~s 1)()t;e particularly set f rth in Schedule A hereto. :~;").' "( . . .... <A_3. The nature and a~~J;)f~nues (excltœive of revenl!esderivable or derived from the sale of ~~a8Iets,b.,..;'~ or illSue8 Of,~ntures or fCOJn a 8ur¡jUS including arr of tax. and proceeds from .i "''lit.. i~:~leôf<AISIIe~J)fthe C~ for the current year collected to date is , as ."; ..-e ~~forth -\II"~le B hereto, ','" .. <- -., -'T ."0;' . . .,4.:; . 1'be,tiaiure and'~'Ì)lth& estimated revenues (exclusive of re nues derivable or derived (Doie<o . .' .... ;.""". . ~front the sa.~ of aseets,-bott.ÕIIí~gs or issues of debentures or from a surplus in ll!dilJ&" .-rears of taxes and :..~ ptQceeds .ftðn. thè safe óf~jo.~ CorporaìÍonfor the current year not y t collected is $ , adoo*)' ;.. '.: ....- .' .I!&JDo~puticularly set f(>(th in Séhedl!le C annexed hereto. ;:c~-;~.,:' -",_:.-"",.:".- .' '~F' . ~~ of a.ny amounts borrowed by the Corporation Under Sectio ·'j'.~e~t Y.eár is $ and the total of sl!cI1amoun ."...:-"~·c.'i·:' 329 of The Municipal Act that have not been repaid .,.." "=,,,... -',j' .,.. fof J'-' ,1967 '. 1'hi$ fltal;emeftt.îs deJiVeredto The Royal Bank of Canada pursuant the proviíiiOIl8 of Section .~~ of'fheMunidpaI Act, as alDeooed to date. .. .'¡, c ,j,t,·~ W1TN~the~te eea1 of the Corporation this ~~+~;-~~~... ," "i-<~" ,'-> &C'.:-- ,~~ ~7":~~¿~~~ . _.' .',.......... 0(" ".-. ~ .....,. .' .' ~ ""' ',_"" ¡{ ....,.-fl .. .;..: ...: ,.' .:~~ .~-2'=CU} t~7,.~~~2 .Z.. .. ;;j:~r:~:" "- " ':t ? 11u1 .~ "'- - , .....::.. - :'~;.~. ':Jio.... . e l' ONTARIO . _...(11....) - _to the_ &teal_tile cu..... .... . ~i ._to thooe of .......... MUNICIPAL CORPORATIONS-BORROWING BY- AW 67- Z. ~7"~AL . WHEREAS the Council of the Corporation of the /0 .' "~ of ,J,~ £' ðð ~ (herein called "the Corporation") deems it ecessary to borrow the sum of $ J T ~ ..... to meet, until the taxes are collected, the curre t expenditures of the Corporation for the year; ·AND WHEREAS the total amount of the estimated ~(,fthe in the estimates adopted for the year 19 . not including revenues derivable of assets, borrowings or issues of debentùres or from a surplus including from the we of assets is $ :¿ 0.5" 0 0-0 . ~ ,~ . AND WHEREAS the total amount heretofore authorized to be borrow poses mentioned in subsection (1) of Section 341 of the Municipal Act is $ / the Corporation has already borrowed a total of $ /,.. _ ' ,.J- : ."'1Ir,1I 11>- THEREFORE THE COUNCIL OF THE CORPORATION hereby 1. The Head and Treasurer are hereby authorized on behalf of the C time to time by way of promissory note from THE ROYAL BANK OF NADA (herein called "the Bank") a sum or sums not exceeding in· the aggregate hereunder _ ~ Dollars ($ 1'/3 .s ec", to meet, until the taxes are collected, the current expenditures of the Corporation for the year, includ' the amounts required for the purposes mentioned in subsection (1) of the said Section 341, and give on behalf 01 the Corporation to the Bank a promissory note or notes sealed with the te seal and signed by the Head and Treasurer for the moneys so borrowed with interest (whi ay be paid in advance or otherwise) at a rate not exceeding 6 7" per ce turn per annum. ation as set forth 'ved from the sale of taxes and proceeds this year for the pur- 3 .5 I'D ~ ' of which . 2. All or any sums borrowed pursuant to the authority of this By-law borrowed in this year and any previous years from the Bank for any or all of in the said Section 341 shall, WIth interest thereon, be a charge upon the whol the revenues of the Corporation for the current year and for all preceding revenues are received. well as all other sums e purposes mentioned or any part or parts of , as and when such 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 the mone hereafter collected or received, either on account of or realized in respect of the taxes levied fo the current year and preceding years or from any other source, which may lawfully be applied for uch purpose, ...,..;¡.:...........-.,.....4' ~r ..... -. ... ..... -' ./ ... ":', ·~PASSED this \.; .~ ~-- :- . ,- . .... ...... .... '" ..... . - 7et. day of ~ - ~ (t::oIoporate Seal) We hereby certify that the foregoing is a true copy of a by-law f the above mentioned Corporation, duly passed at a meeting of the Council of the said Corporation uly held, and that the said By-law is in full force and effect, . Given under our hands and seal 01 the Corporation this ~~-:y:~::>~~ 19 £ 7 -...: ~ __ ---.... íA. :. .::. ~rite S'eaf) -" -~ - - , ",'~r ... " <#4