HomeMy WebLinkAboutTWP 62 604 Borrowing By-law
C&!l!nci of the Corporation of the' of
,.' . .' . (herein called "the Corporation"} deems It ecessary to borrow the
C.'~ ¥~"'*'t, until the taxes are coUected, the curr nt expenditures of the
. . for the year; .'. .. .
_to.' '"AND WHEREAS the tota1aØ1oup~of the estimated revenues of the rporatipn as set forth
::.~, i.nthe estimates ~op~ for the year 19,jú ot including reven.ues d~rivable r deriVêd from the sale
0IÌm!!". (jf ~ts. borrowmgs or lSSll!!!lof debentures or from a surplus mcludmg arrea s of taxes and proceeds
~:, frottlt4e sale (jf .~tsis $ . ;
._~ .
_of/.....
last "....'·".Ci,AND WH~ the total amount heretofore authorized to be borrowe this year for the pur-
i..·.."."~me~edinsubSection (1) of Sectiòn 341 of ~ MUJlicipal Act is $ ,of which
. ,'1;ItEi,t:orporation·\ias already borrowed a total of $ ~ :
",THEREFORETHE CQUNCIL 9F THE CORPORATION hereby
~io"(,..~ .
1. The Head and Treasurer are hereby authorized on behalf of the ration to borrow from
. . ,~to time by way of prOt;Qissory note from THE ROYAL BANK F. DA.JWfeiJLc~ed. .17
'<..l.~. "..... ..!Ïi...,...s.u.m...or sums not ex~ing in the aggregate hereut& ~. -r
.'. . ¡" "", . Dollars ($ eet, until the taxes
are' lected.the'..urrent expenditures of the Co~ation for the ea}. includin the amounts required
~tþep~ØÍt!1ti9nedin8ubsection (1) ofthe said Section 341, and t give on behalf of the
.~. to tite aank aproroiSll9ry note or notes sealed with the Corpor te seal and signed by
tJteUOad..:. . . an'. d ~U1'èrfÐt.. t\tempneys 80 bo~ed with. interest (which n ay be paid in advance
orot1lèrWiøe)ata rate not,~ing ð! ~ per ce mper annUm.
.'r";t>...>
.
.
.
fe..
:~?*:~j~:~,~.
. 'i,t'Þ<~~./:(; ~
.
. ...\
. ,c.' _~
-.'", ../..
.
ÅW(~()i ¿Of
ø.
om..wuo
MUNICI..~CORPORATlONS-BORROWING BY'
LE 495 (1-52)
.._-
,
2. '.' All or any sums .~ed pursuant to the authority of this By-law well as all other 8ums
~in this year and $Ìlyprevious years from the Bank for aQJ¡,[>r all of e purpQlleS mentioned
in the said Section 341 shall. Wt~intel'e8t thereon, bea charge upo¡r-the whole or any )art or parts of
'the JÌey4i.lluesof the CorporåtiOÍ\ fpr the current year and for all preceding y . as and. when such
. .~~ a,reteceived.
;'£1.
;J;,f'C' The Trea8urer is hereQ¥ .authorized and directed to apply in payment
~'~'µ<>I'I!8aÌd, together wit ¡ interest thereon, aU or any of the mone hereafter colIected or
r~vea, ,,,,t~ on accoullj; 9for ". realized ip respect of the taxes levied for the current year and
~g years pr from any ~rce. which may lawfulIy be applied for ch purpose.
,P~EDthis ~" day09'fl" . '~y ,19 ~ 'Z-
.V:;;>oo--~ (J
v. '.......
W/~' --::_~ -''V..({ ~"
~ - ',' ,,-' ~""-'
"Í~..te ~I~. ';..
.... ..:......,..--.-'- .,
~_ ',_ v..¡;.._"'" #..
'M.".'c. Wi' . - "'~;'
---v,>~ ", ,w..,; "lilt
'-:.' '>:";, ._,__:'ir ,;; - ':"
...~"W...
~~i-,J:"
ot:~' ":,,~
~><"',
\
.upderonr hands ¡¡nd seal of tite Corporàtion this
......'; ·y''''t·..L~
" - - y~1S!
j
-~-""':'; .-.:
~,...-: "",,-
, ...,. ,. ~- "-
~.:,..,., ~~,,~, ........
'-'' ~J ...,
,:. ',' ..." -¡... -o#I¥ -
-- ""'..;.;.f ... ;..
...: .. -./~ ',;,..
.'_. 4...; .
.:;.r... '·t.-
-.......... i; ~:.E" 'J<
'" .....,iY,Jo. .J -*
'>"..'#:""""'..... . . ....
~;1t4$~;?....~..;.;~·" y"S-,y:," :-";
;1'tr'~_;:0,..··:_ -~'W:...~:; ....-.....,~
,
<:,
)
,j_.~',~:::