HomeMy WebLinkAboutBRU 1930 461 Borrowing By-law
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By.LAW.fNo....tI-~L .
A Iy- lU, to authorize the Head and Treasurer of the Corporation of
the,..,.....,..,.. ,., ,....,..,....,.,..,.. ,.',.' " "........._...........ot_,....,....,.."........t~,...._.._.__............".........
to borrow certain su s to meet the current ordinary expenditure of the Cor.
poration, and the su 1S required to be raised In the current year for High School
and Public School purposes.
Whereas the council of the said municipality deems the sum of..................,....,............
,....~...7;....,.........................Dollara necessary to meet the current
ord ary expenditure of the Corporation and the sums required to be raised in
'th current year for High School and Public School purposes until the taxes are
collected, and it is expedient, subject to the conditions hereinafter contained, to
authorize the Head and Treasurer to borrow the said sum;
And whereas the ordinary ex~ iture of the said municipality for the
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And whereas the amount required to be raised by the said Municipality
for High School and Public School purposes for the curreht year is the sum of
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And whereas the amount (if any) heretofore borrowed and outstanding for
the purposes aforesaid and the amount hereby authorized to be borrowed do not
exceed. qa.....per cent, of the ordinary expenditure of the said municipality for
the next ~~~ccding year together with the amount required to be raised for High
School and Public School purposes for the current yearj
Be It therefore enacted by the Municipal Corporation of the....,.,.....................
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.._._... "."........,..,.............. , ............"..of....,....._..........,............"............,..,.........,..,.............,..............as follows:-
1st, That e Head and Treasurer of the said Corporation be and they
are hereby authorized, in the manner and subject to the conditions herein
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required to meet the c rent ordinary expenditure of the Corporation, and the
sums required to be ra sed for High School and Public School purposes for the
current year, until the taxes are collected.
2nd, That a promissory note or notes, sealed with the Corporate seal and
signed on behalf of the Corporation by the Head and Treasurer thereof, for the
amount of the said loan and Interest t~n at the rate o~."..per cent, ~r
annum, and repayable on the.._.....ao..~.......day oL...~9.iJ?;
be duly executed and given to the said Bank as security for the repayment of the
amount borrowed with interest thereon as aforesaid.
Passed in open Council this........,lJ.~.~..",,~ay'of.. ..' .. ..........In the
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year of our Lord one thousand nine hundred and..... .. ..... --'
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