HomeMy WebLinkAboutTWP 63 615 Borrowing By-law
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~êh~~;rreaaureris he.-eby~uthorized and directed to apply in paymen of all or any sums bor-
~~,.aforesaid. together with in1erest thereon, all or any of the mon hereafter collected or
. 'received¡~ on account. ,!for realized in respect of the t¡Ixes levied f the current year and
~ing yeacsor from anY~:~. which may lawfully be applied for such purpose.
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LE 495 (1~S2)
ONTARIO
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MUNICIPAL CORPORATIONS - BORROWING B
¡¡:¡~':WHERE¥the eounèilof the COrporation of the :t .
<. .,,~ "(herein called ~'the Corporation") dee
. ,. 'J, '. . . .. to meet, until the taxes are collected, the c
'Òfi for the year;
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. IeI.. to .. ANJ>WHEREi\S the total amount of the estimated revenues of th
~';:.~ in tþe estimates ~ÒPt~J,!r the year 19~~ not including reve'!ues d~vabl
,.=mot .!II;...ts, borrowmg&or '.$$l1eSof debentl1res or from a sl1rplu mclud..g a
J~,._¡f~thesale of I\SIIets is $ / . ;
..... .~Åf·t AND WHE~EAS. thetÓta{ an1Çl1nt heretofore authorized to be borro
Ai>" - pøees men~in subsection (t)'ofSection 341 of the Municipal Act is $
" ., )thôCorporatÎan;Jhas alrea4YborroWed a total oU :
(.,,"
"'1
ed this year for the pur-
, of which
of
n~y to borrow the
entexpenditures of the
Corporation .. set forth
or derived from the sale
of taxes and proceeds
..,
.
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THEREFORE THE .COUNCIL OF THE CORPORATION hereby /lacts as follows:
... ThI\,:Head~it T~aiM¡rerare,hereby authorized on behalf of the C tion to borrow (rorµ
)0 tiníe bY, wa. y ,of ~.'.', '. . n~ !rom THE ROYAL BANK F Alj .DA (þereinplleit
!~) _.w¡or áU-...:íteJ(ceedmg m the aggregate hereunder "'~4A: "'-<-
i. Dollars ($ 16tJ I OD 0 to meet. until the taxes
'.' . ' ... CII 'ent l\X~ditures of the Corporation for the year, inclu g the amounts required
'fqf:'tbe purpclll8llmentiQn¡¡d¡4jjeubsection (1) of the said Section 341, and give on behalf of the
CôtporatiQR to the Banka\promissory note or notes sealed with the Co rate seal and ~ed by
the Head and Treasurerl'ot'~ moneys so lxnTowed with interest (which may be paid in advance
. ...:;"otherwise) atàrate not:~ing .~ ~')f per c ntum per annum.
< :"~'~l~í'J,<'-, " ' ",' -":*':'1'I-;:':',f'.:-,,-~:'-',:--,-~,;:---: _ -_:'.:' -,-
~" . AII.or any .11111Sb,n,\#'!>,,4P\lTsuant ø the authðtity·ofthit By-law Well aBa/I other sums
'bòirowed. Î/lthis yea.raítd~y· ~OU!l years from the Bank for any or all 0 the þurpose.o mentioned
,,'¡n1ihe sald~on 341 ~"i!1Ítbinterest thereon. be a charge l1pon the who e or any part or parts of
¡he revenues of the Corporatio"iÍor the current year and for all preceding ears,.as and when such
~ artrécei~. '
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day of
14
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Given w¡,der our hands and seal of the Corporation this
.. Qay,of..14 19"
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