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Home My WebLink AboutTWP 73 02 Borrowing By-law . . - ...~ e 'Re£u to tbeeoti· mates for the cur~ rent year if adopted; i£not. to those of ""....... , , Form. 348 (6-68) 73 - '- ONTARIO MUNICIPAL CORPORATIONS - BORROWING BY-LAW WHEREAS the Council of the Corporation of the 7 of~ ~ (herein called "the Corporation") deems it necessary to borrow the sum 0 $ :3 <'3) _. to meet, until the taxes are collected, the current expenditures of the Corporation or the year; *AND WHEREAS the total amount of the estimated revenues of e Corporation as set forth in the estimates adopted for the year 1973, is $ Y.J" ? ~ l _ - ; AND WHEREAS the total amount heretofore authorized to be b rrowed this year for the pur- poses mentioned in Section 329 of the Municipal Act is $ ..n.3,"- - , of which the Corporation has already borrowed a total of $ ~ : THEREFORE THE COUNCIL OF THE CORPORATION h by enacts as follows: 1. The Head and Treasurer are hereby authorized on behalf of the Co poration to borrow from time to time durin~he year in accordance with the provisions of the said Sect on 329 by way of promissory !10te from 13""'" 11 ~ (herein called)'the Bank" a S)l)I1 or Su!IlS not ,:xceading mtheaggregate ereunder P '7.tM.4- J-.-.k-r< ':t.i -~ ~ L_'~ Dollars ($ .Jz.~_.¡O) to meet, until the es are collected, the current expenditures of the Corporation for the year, including the amounts re uired for the purposes men- tioned in the said Section 329, and to give on behalf of the Corporation t the Bank a promissory note or notes sealed with the corporate seal and signed by the Head and Treasu r for the moneys 80 borrowed with interest (which may be paid in advance or otherwise) at the prevail ng rate from time to time of the bank. 2. All or any sums borrowed pursuant to the authority of this By- aw as well as all other sums borrowed in this year and any previous years from the Bank for any or al of the purposes mentioned in the said Section 329 shall, with interest thereon, be a charge upon the wh Ie or any part or parts of the revenues of the Corporation for the current year and for all preceding y s, as and when such revenues are received. 3. The Treasurer is hereby authorized and directed to apply in payme t 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 cu ent year and preceding years or from any other source, which may lawfully be applied for such purpo e. 4. The Treasurer is hereby authorized and directed to furnish the Ban at the time of each borrowing with a statement showing as at that date the nature and amount of the esti ated revenues for the current year where the estimat-ed revenues have been adopted for the current ye ,or of the estimated revenues for the previous year where the estimated revenues have not been ado ted for the current year; the nature and amount of the uncollected balance of the estimated revenu ; the aggregate of borrowings made in the year under the provisions of the said Section 329; and the t al 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 borr wing on a copy of this By-law certified by the Clerk and on the statements furnished to the Bank from time 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 Co poraûon as against the Bank, until a copy, certified by the Clerk under the corporate seal, of a By- w repealing or replacing this By-law,shall have been ",eceived by the Bank and duly acknowledged b it in writing. PASSED this fÌ' day of 'Saß·....~ 197.1. ' . A .. .. II' (CorP2rate Seal) C....k ," , .. We h&reby certify that the foregoing is a true copy of a By-law f the above-mentioned Corpo- - ration, duly passed at a meeting of the Council of the said Corporatio duly held, and that the said ;- By-law is in full force and effect. ~ -. Given under our hands and seal of the Corporation this l' "(). day of :s- ~ 1973. (Corporate Seal) '^ \ Clerk , \ .~- / .,_t~·:'· .é ~.ß <O'!i.. IUESOLUTJONU BANKERS AND SIGNING 0 (For Cities. 'tOwns, Village., Municipalities and School Diatri ." J-+r~ ~: .. ,I!IIbSaJl.' - & .- (I) Thai....,..........".."...""..,..,...,.."......."'......,..............,...................., ....."....,................,., ...................t of. tbe .,.,.1Ì!u'nJ....J4......!Jt.....,..w.n*......r...~....,.......................... .........."...................."......"............. . a-_ol.Ci"', T.... VI1Iaae, ItomIcIpaIi",.. __t) '''~.'.'.'..' ler calle<ltbe "corporation"). bt,andi$h.'er-eb.· Y. au. thoriz. . e<I for and on behalf .of witli,'''epÓoit with, or mnsfer to THE KOYAI-IJAl'KOFCANADA (but for cremt onlY) l1li or aD)'.ch~ues andolher "'<!.r$~I~paY!lW't:of mooey, and for lhe oai4 pur , '&nJ<oi,them oqbehalf of the co~tlOD...ithenll ....itiø&'....by rubber '-p. .. e~atiøD to _tiale tlÞ>corpòI'åIlon'... acc:ount .to-.ødorse ti1J= oame or (2) That aU Òheque. of Ibe eotpbta'tion ,I>e drawn ;.¡.~ name of the corporation all be.ipecI on it. behalf by ..1YÞ1. V , n. "tlJrlt4ul.4- (b;rt'¡;~·;¡·~·;d..i;¡¡;~·:;¡;·~·j;'i~·M·;;:·a;;;~~·~~; ·~·;~;;:·~:i::.::::..T~·c;;:.. .~;;.;.~~~) "'-;,'.... . ... ~,¿tj~ by· .,..,...............................................................................,...,.......,...,...,~,............ ..,....,........................:~.......~........... (tuIirt Dame of offi* .. iQliieate wbet1ler M iI ~ayar-.Rftft. WardeD. QyerlftT, Chainnan. Tmtee. Clerk. ranrer or Sel;retary>:Treasarer) (3) ··.That.....,."~,..,...r.,,t ·j[;".....="...::."1/U..............."..,,...,...,.,....."...,..,. ..............,',.......,..be and Ware _ Øaeert-_ of o1bl'(4) ";'iCcÛcat~ tidtofhis office) hereW..-. uthorilecl for and 011 behalf of the eorpotation frm.mi> tÌll\e to time 10 receive 'Of .the'aecountof the corporation ~er with aØ relatl# vouchers and aU UIIpalcl bills __lion allt! all It..... .rellU"De<I impaid and chamd to the. &c!:Ount of Ibe corporal Iheoalcl!an~ lbe '!lank's form of veriJicatlon, .ellf""""t.of b!llance and reloue. . the oaid IMnk . .tatetnent f...~ by the and to Ú/lllaød .....to (4) That--'" I. iT L' ~Illlll._ '.' ,·,·........,·"'·,..·"··........'·(ÏÄmïïï;.;;;;ëïi·öt~iï..ü.iï';¡iëïië..iiiië'~ïïijï·ö4i..)'.."'....·· ........,...........,....,.be and iI/are .'liéia.~. authoru.edíor :~d on behalf of ti1J= ~atio.. to oþtai.. deUvery frQm the ai . ~lIIId olher secant.CS held by the .aid, !lank i.. oafekeepias or otherwise for Ihe ac 10'.wva1ld ....dbindi... receipt. therefor. " . " (5). Thai thlt reoolutiOll be c_""",aled 10 the oaid Bank and r"",am m force ltar¡/; abaII bave be"" slv"" to .the W'aaapr fo< Ihe n- beInø of the braach of the aid tIoe.~ation Is kept, and recelpl of .uch notice duI7 acknow1e<lce<lm wrltlag. We bereby certify thaI tbe above Is a true copy of a reoolutlon pa..ed at a me' of th....J':7.......t.l,.......... (CaaadI fir 1IoonI oI~) oftbe .....,...,........~...:.t.::.'-..~.,!~::::....r~.~.~.........._........,............................,...".................... ........"...........".............................,.. - ." (Iaørt..... 010.0, To--. ViIIap. ....w,.Utr or SehoaI IMtrict .. cue... be) cIaiF œavenedandregalarly held ÌII ueooclaace with the law over..i... the said corpora OD tbe..........~........4ay ....................~..............~.... ...._..............~_.~....... ......~..................ft, t of..:...........~......"..:t.....................................19..".!! . J (SEAL) __,,----. v _,' ........ >..;.. --' ......./ -= .....~ ....- - ~ "'-......- .... -. - "- - -,- .',-" ~ .- '411.'. saT ..~.., '~. .. ..WAIID....· "OVEItS DR." "CBADIIIAN,. "Ttt1S'1U," , . TARY· .·H~........ boo t-nrsDT OfCL .. or ó'sECDTAat":"... u.. case ~ be. . '.- - , '_ "J"-~_ ," _"...io.,-...-" ~ -'-~_...,.....~~ -1 .1 ..Il H _~.IInD~ .-szatE.. c"?£~__ e· . . e_~;-·~~TIr ¡, , If )/Z_ J 71J Form. 3(9 (6-65) " ø ONTARIO MUNICIPAL CORPORATIONS STATEMENT BY TREASURER RE BORRO ING TO: (1.-< proper !f~'. Re: The Corporation of the 7~ff~ of in the Province of Ontario (hereinafter called "the Corporation") I hereby certify that the following statements are true and correct of this date: i?~'1f _... 1. lor_ C.....· ado9IOd) 2. The nature and amount of the estimated revenues of the C I::"'..J" derivable or derived from the sale of assets, borrowings or issues of debent _* for =.V: a,uears of taxes and proceeds from the sale of assets) set forth in the estimat of the Corporation adopted .....- 7) J.) J'" ,-4 ::¿~~for the year 19 are $ 7 G. " as more particularly set forth in Schedule A hereto. ;r~;:.., The estimates of the Corporation for the current year have (not) <A_ -:=tr -- A.B Itcc) 3. The nature and amount of revenues (exclusive of revenues derivab assets, borrowings or issues of debentures or from a surplus including the sale of assets) of the Corporation for the current year collected to date' more particularly set forth in Schedule B hereto. n adopted. tion (exclusive of revenues or from a surplus including or derived from the sale of of taxes and proceeds from ~ ,as 4. The nature and amount 0( the estimated revenues (exclusive of ues derivable or derived (Deioto ~. from the sale of assets, borrowings or issues of debentures or from a surplus' cluding arrears of taxes and ;r;:¡r. proceeds from the sale of _ts) of the Corporation for the current year not collected is $ "j'.. '7 ¿' <¡, ,~ 88 more particularly set forth in Schedule C annexed hereto. 5; The total of any amounts borrowed by the Corporation under Secti n 329 of The Municipal Act ill the current year is $ ~ and the total of such amoun that have not been repaid are $ 4 This statement is delivered to The Royal Bank of Canada pursuan to the provisions of Section 329 of The Municipal Act, as amended to date. AS WITNESS the corporate seal of the Corporation this (Corporate Seal) ?"" daYOf~',19 .73 I , TNnnr