HomeMy WebLinkAboutBRU 1932 493 Borrowing By-law
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.'ormIOOA.'29
Ontario Br.='
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authorize the Head and Treasurer of the Corporation of
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to borrow certain sums meet the current ordinary expenditure of the Cor-
poration. and the sums equired to be raised in the current year for High School
and Public School purposes.
t ..:rJ!::".o:,~l...._m;:'::'::=:b:",:.::- th: ~;
ordinary penditure of the Corporation and the sums required to be raised in
the 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;
o~t .'::.:b= =':o;,=_~~~~:t~~=-:":
,dd "" dd __ ... _ __Dollars;
And whereas the amount required to be raised by the said Municipality
f~..~i.~~.~Z:_;:~~ ~OOI purposes _~:~_~~ cu=:n~ _::l~~he sum of
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. _~_per cent. of the ordinary expenditure of the said municipality for
the next preceding year together with the amount required to be raised for High
School and Public School purposes for the current year:
e it therefore enacted by the Municipal Corporation of the--___._
_.... ._ _ .. of . .. . ..__.______.___as follows:-
1st. That Head and Treasurer of the said Corporation be and they
are hereby autho . in the manner and subject to the conditions herein
mentioned, ~borrow from The C.."..dian Bank of Commerce the sum of
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required to meet the cu nt ordinary expenditure of the Corporation, and the
sums required to be raised 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 the~ at the rate o~R~,,-per cent. per
annum, and repayable on the ~~-~ day of /d~JO hd~ 19.:8.~.
be duly executed and given to the said Bank as security for the repayment of the
amount borrowed with interest thereon as aforesaid.
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Passed in open Council this.
year of our Lord one thousand nine hundred an'
>
idman
lrer
10
Ir
1D~age
,ect
from
as
end effect
)t.)"ot'. "-.nka or}
ItccYe, _ \be c:ue
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Z Tha1i thi. b7-1aw cae into full force
the passing thereof.
J SEAL }
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of council held the 26th ~
~, ~;o/ur
Passeel at special meeting
of >>eoember A D 1932
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