HomeMy WebLinkAboutTWP 50 508 Borrowing By-law
Form Le 495
Rev. 7·33
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ONTARIO
BY-LAW OF MUNICIPAL CORPORATIO
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THE CORPORATION OF 'l'HE..".t.....,....."."" OF.,.....".."
BY-LAW NO..""'/:ú?..i."".""."..",,
A By-law to authorize the borrowing of .¡JJ..¥.........,.'''''''''.''''.
_.te Council of the Corporation deems it necessary to borrow the sum
of $:......".."""""".", to meet, until the taxes are C!Jllected, the c rrent expenditures
of the ~ati()n for the year; ,
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\, l:,HEREFORE the Council of the Corporation of the..,,,,, . ". "".""".""""".."".".
\ of. :"'7.íi:::'~~~';;e~'~~;~;~;~·~~;~~;'~:::::e:::t:e:a::
I.. ~"..~;¿¡o:s~:eo~os~::::~ ::~~1i~~0:i:~r~g~~~~:;:~e~:;d r~~~~"~~~,~
r.....'. .:..~.' ~...¡...¡.:..~.~.,,!~."...~...'....JJ..J.jJ.O;:~.... . "!!,,,...l.'''. ,,'.!.....!'......... ....!I'.......,,,~.H...!!,"'... .. '.. "Dollars
t.. (~:::'?":".:.,,":..) tomeetJµntil the t~esare col~ect~d, the curr~n expendttur~s of t~e
l 'Corpofationforfhe year;mt11ldiñ:gthe arrtounts requtred for the pu poses mentloned In
"¡. dsubsectio:tl(I) of the said Section 339, and to give, on behalf of the Córporation, to the
.'.' Bank a promissory note or notes, sealed with the Corporate sea and sjgned by the
'.' Head and' Treasurer for the moneys so borrowed with interest (which' may be paid
;, 'iil'a(ivanceor ;;¡therwise) at a rate not exceeding" ""ft.".".":".,,per centum per annum.
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' 2. All sums borrowed pursuant to the authority of this By-la ,as well as all other
;'. sums·b..."owed·in this year, and any previous years, from the said a,nk; for any or all
of the purposes mentioned in the said Section 339, shall, with.in erest thereon, be a
charge u.pgn the whole of the revenues of the Corporation for the urrent year and for
all preceding years, as and when such revenues are received.
. '*ANDWHEREAS the' total amount of the estiBllated revenues 0 the Corp0Fationas
set£mh·intheestimates adopted for the year I..,., not iDcludi, revenues deFi"able
or derived from arrears of taxes, borrowings an~isues of debentur s. is -'11 rr ii" "..
AND WHEREAS the total amount heretofore authoriied to be borrowed this year
fJ-:,:¡¡ses mentioned in s~bsection (I) of ~ection 339 oft e Municipal Act is
$"""..i1ï...."..................., of whtch the CorporatlOn has alread):¡orrowed a total
,of $.......".""."..""".""....".....
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the Corpofatiõn to
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3. The Treasurer is hereby authorized and directed to
sums borrowed as aforesaid, together with interest thereon, all 0
collected or received, either on account or realized in respect of t
current year and preceding years, or from any other source,
applied for such purpose. .
ly in payment of all
the moneys hereafter
e taxes levied for the
ich may lawfully be
PASSED this...,..........~...................day of......~........... .....19,.....
(CORPORATE
SEAL)
of th:~:r~;~~::~7t~~~~tJf.~~:.~s..a.~r.~;f~~~. ...... .....................................
in the Province of Ontario, duly passed at a meeting of the Counc I of the said Corpora-
tion duly held, and that the said By-law is in full force and effect.
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Dated this......................................day oL............fll1FrV... ........."....... .......IJ8.....
As witness the seal
of the Corporation
( CORPORATE
SEAL)
........................t£..... .
(THE HEAD OF
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..Lþhnu/....
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..... .....@:".r.l.-.<k.Y..:.. . .
HE CORPORATION)
CLERK
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