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HomeMy WebLinkAboutTWP 69 01 Borrowing By-law WHEREAS the Council of the Corporation of the 7< '/'-/ .,,~~ . "'... ~ ......... Fona 3d (6-68) ~ Y-LA~ 13ð~~fø-O . 2. ~ /4< ¿,þ (herein called "the Corporation") deems it necessary to borrow the sum 0 $ : -t" . to meet. until the taxes are collected, the current expenditures of the Corporation or the year; ONTARIO MUNICIPAL CORPORATIONS - BORROWING . *Refer to the esti- mates for the cur- rent year if adopted; if IIOt. to thMe of ......... owed this year for the pur- . of which the Corporation /h{ tJ . THEREFORE THE COUNCIL OF THE CORPORATION he eby enacts as follows: 1. The Head and Treasurer are hereby authorized on behalf of the Cor ration to borrow from time to time dU'2'n the year i~:"l0rdance with the provisions of the said Secti n 329 by way of promissory note from Ið. 6"<"": Aerein called "the Bank") a sum or sums not exceeding in the aggrega hereunder 2,).' , :- ,¡;c Dollars ($ ifi,.., ') to meet, until the tax 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 Treasur for the moneys so borrowed with interest (which may be paid in advance or otherwise) at the prevaili g rate from time to time of the bank. 2. All or any sums borrowed pursuant to the authority of this By-l w as well as all other sums borrowed in this year and any previous years from the Bank for any or all f the purposes mentioned in the said Section 329 shall. with interest thereon, be a charge upon the who e or any part or parts of the revenues of the Corporation for the current year and for all preceding year, 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 curr nt year and preceding years or from any other source, which may lawfully be applied for such purpos . 4. The Treasurer is hereby authorized and directed to furnish the Bank 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 estimated revenues have been adopted for the current year or of the estimated revenues for the previous year where the estimated revenues have not been adop ed for the current year; the nature and amount of the uncollected balance of the estimated revenues; the aggregate of borrowings made in the year under the provisions of the said Section 329; and the tot I 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 borro ing on a copy of this By-law certified by the Clerk and on the statements furnished to the Bank from t me 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 Cor ration as against the Bank, until a copy, certified by the Clerk under the corporate seal. of a By-Ia repealing or replacing this '.' .B¡r-I~'_S. hal! have besn received by the Bhand duly acknowIe,qged by it in writing. ./'" PASSÐP th,s 6 day of 19 67 . ~::~-~ ~>" ~'- --''::.;.'Þ ~~ .;' ... -- - .:: ·AND WHEREAS the total amount of the estimated revenues of t the estimates adopted for the year 19". is.* 1', . - ~; ;3 , AND WHEREAS the total amount heretofore authorized to be poses mentioned in Section 329 of the Municipal Act is $ has already borrowed a total of * e Corporation as set forth in .3<rl',~ . ...... '/ (Corp(>rlrte Seal) - - . C,",k We hereby certify that the foregoing is a true copy of a By-law of the above-mentioned Corpo- , Tation, duly passed at a meeting of the Council of the said Corporation duly held. and that the said By-law is in full force and effect. ~ --, Given under our hands and seal of tile Corporation this .~ -~¥'*'. b r 19 .£r. -'Corpor~te Seal) ~k . ~ - -'- .' « -. ~< . ø (ID&ert ",..,.,. name of M.unicipal- ity) (Delete "(not)" if eetiinates for current .... have- been adopted) (Refer to the esti· mates for the current year if such have been adopted; if not. refer to eétitnatä ofJast~r) (Attaclt separate sheets for Schedu'" A. B &C) (De1ote -ph. -if estimatol (or current ye&.rnot:tet adoPted) ,. ... ......- -- ONTARIO MUNICIPAL CORPORATIONS STATEMENT BY TREASURER RE BORRO TO: Re: The Corporation of the í~i in the Province of Ontario (hereinafter called "the Corporation") e Form 349 (6-65) ING , of I hereby certify that the following statements are true and correct a of this date: L The estimates of the Corporation for the current year have (not) en adopted. 2. The nature and amount of the estimated revenues of the Corpo ation (exclusive of revenues derivable or derived from the sale of assets, borrowings or issues of debentu s or from a surplus including arrears of taxes and proceeds from the sale of assets) set forth in the estimat s of the Corporation adopted for the year 19i~ are $ "':" '. ' . Î3- . as more ¡¿articularIy set forth in Schedule A hereto. .6.I~1 . ¡v (-htJJ) 7~ 2.J8"9'zM> ,.-0 . »~ .....,-f) 1 . ,3 ",L vt.,: I " ..-oð ,,-0 ~ 3. The nature and amount of revenues (exclusive of revenues derivab e or derived from the sale of assets, borrowings or issues of debentures or from a surplus including arrea s of taxes and proceeds from the sale of assets) of the Corporation for the current year collected to date' $ -:.,L , as more particularly set forth in Schedule B hereto. 4. The nature and amount of the estimated revenues (exclusive of r venues derivable or derived from the sale of assets, borrowings or issues of debentures or from a surplus ncluding arrears of taxes and proceeds from the sale of assets) of the Corporation for the current year not et collected is $ as 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 in the current year is $ -", ~ , and the total of such amou ts that have not been repaid are $':¡ - This statement is deliv~red 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 /. .;-¡"'"'-'¡--~"", ...... "'0 ~ -v_ '"'' "Oý:~p a,' .-' -- . ;' '-~.. , ' .,... ... ',;:;".0_ .-.: ":- -/ '" .... ""./, .... ·'0,. _ (ð.,r~at!',Seal) :.->. , .'> ~ -?-.... dayofh,19tr ¡J~ T"""'.... 'III