HomeMy WebLinkAboutTWP 59 581 Borrowing By-law
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ONTARIO
MUNICIPAL CORPORATIONS - BORROWING BY LAW
ii' WHE~EAS the Council of the Cot-poration of the 1'owuShip . ·of
,i'. . .1t:1ncardine _ (herein called "the Corporati<:m") deems it necessary to borrow the
_of ~75 000 00 to meet. until the taxes are collect:ed, thtj cu nt expenditures' of the
· ~atiónftr.fliéYèãr; .
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_..to. · AND WHJ¡;REAS' the totåÌ aItIount of the estimated revenues of the
::.;.';t.. in the ~mates adopted for theyea.r t9 . not including revenues derivable
~. of asSets. borrowings or iS8uesofd~tores or from a surplus including arre
'. !r""". ' .from the sale O. f assets is. $ . c ;
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-,-,~~·~,~.;~ÐWHE~the'f!)l14'aItI~nt heretofore authorized to be borrow
"}'. "':.~.'.'.'." }nen.. .tioned.. in subsecti<!n.... _ .. U)'9.f._. :.~tion 341 of the Municipal Act is $
.....". ·~tionhas alread.ybottO~a total of $ :
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orporation as set forth
r derived from the sale
of taxes and proceeds
this year for the pur-
. of which
-- ··-tHER~FôR);:·THE COUNCIL OF THE CORPORATION hereby
t.., The He¡¡4,and'Treasurer are hereby autborized on behalf of th", Co tion to borrow from
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'........,...'.'..,. .' '.'¢.\Ifiè.' ", n~~.t ,n: it.' Urès. '00, the Corpo. ration for the year, includi g the amouittS required
"~_.':""'. . p'!rp0se8¡pö.... ·.~ÍI. ··,ins. u~.·pn (1). _. f th.." said Secti?n 341, and giVè on behl\1f of the
'·~atiOn.to th~Bank'a'~UllQfYnote or notes sealed WIth the Corpo a"- seal and 81gnedby
~,Head an(\" r~fÒ!'~ mo1jeyssoborroWed' with interest (which ay be paid in advance
~~~a:t'nate not~ì1g ; per tU1n per annum.
'i~ &
'.'1;,-- All or any 1Iu~ borrowed pursuant to the authority of this By-law well as all otherswrts
borroy:edin this year and any previous years from the Bank for any or all of the purposes mentioned
In the said Section 341 shall;,!ith interest thereon, be a charge upon the who! or any part or parts of
the revenues of the CQI'POratiQn fQr~e current year anQ for all preceding ears, as and when such
. .' ~venues.are received. . .
3.; ·.··.400 Treasurer ~ h"'%bY au~Qtiz~ and directed to apply in payment of all or any sums 00.-
~aiI,..foresaid. tògethêr".jtÍth¡.i~"'re.,t theréon, all or any of the mone hereaftercoll~or
· f~; either on accounto! Qt'.fèa.fi.zedin respect of the taxes levied fo the current year and
~ing'yea.rs or·-from anY'O~rsi?Qtce, which may lawfully be applied for uch purpose.
J>ASSJiD.this 2ad day of
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~-,)://i-±"Æe. b~hy. C!'rtify that tlîe f"f.l'i¡oing is a. tru¡; copy of. a by-law of the
~.; .)It . '. In thefTOVlDce of Ontario, duly passed at
;~'~éaia COrporation duly held. and that the said By-law is in full fon;e an
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rporation o( the
meeting of the Council
effect.
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,,' . Givei'! under our hands and seat of the Corporation this 2nd
'~~ :l'e'b1'Uary 19 ,9.
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