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HomeMy WebLinkAboutBRU 51 693 Borrowing By-law• teler to the eaimatea for the current year II adopted; ,1 not. to thu.e of last Year. ONTARIO BY -LAW OF MUNICIPAL CORPORATION ..... TIIE CORPORATION OF TIiE.....+�'�'��lJ OF . V.. CJ BY -LAW No. ...�p.. 3 4)-- A By -law to authorize the borrowing of $ . �• 00 ,1 WHEREAS tile Council of the Corporation deems it necessary to borrow the su nl of $ sd, 000 to meet, until the taxes are collected, the current expenditures of the Corporation for the year; *Awn WIIEREAS the total amount of the estimated revenues of the Corporation as set forth in the estimates adopted for the year 19.0.., not including revenues derivable or derived from arrears of taxes, borrowings and issues of debentures is $ 84,020 AND WItEREAS the total amount heretofore authorized td be borrowed this year for the purposes mentioned in subsection (1) of Section 339 of the Municipal Act is $ . 5:0,.000. T s , of which the Corporation has already borrowed a total oo of $ /3, COO TIIEREFORE the Council of the Corporation of the of ................„c Cr' 1. The Head and Treasurer are hereby authorized on behalf of the Corporation to borrow from time to time, by way of promissory note, from THE ANK OF CAN mszlot exceeding in the aggregate hereunder..... hereby enacts as folio% LE 495 (7.331 CANADA a hum or su (� Dollars ($ S d, 000, ) to meet, until the taxes are collected, the current expenditures of the Corporation for the year, including the amounts required for the purposes mentioned in subsection (1) of the said Section 339, and to give, on behalf of the Corporation, to the Bank a promissory note or notes, sealed with the Corporate seal and signed by the Head and Treasurer for the moneys so borrowed wit) interest (which be paid in advance or otherwise) at a rate not exceeding '/. P er m per 2. All sums borrowed pursuant to the authority of this By - law, as well as all other sums borrowed in this year, and any previous years, from the said Bank, for any or all of the purposes mentioned in the said Section 339, shall, with interest thereon, be a charge upon the whole of the revenues of the Corporation for the current year and for all preceding years, as and when such revenues are received. • . • . Ill .41 4sia..1. 4-41.1 .4rt • *Ai ' frill! IN - it; 11 Is- ! • '- i t. t in ; - 41114 cutrrijnitittcp 14 11 ni N . L IttrOW s - CO Cl Cl ( 3. The Treasurer is hereby authorized and directed to apply in payment of all sums borrowed as aforesaid, together with interest thereon, all of the moneys hereafter collected or received, either on account or realized in respect of the taxes levied for the current year and preceding years, or from any other source, which may lawfully be applied for such purpose. �� PASSED this u� ���- ✓ T !L day of 197157. L Oh w°C 1 (CORPORATE SEAL) CLERK We hereby certify that the.loregoil g is a true copy By -law No....i 7 of the Corporation of the ` of L!J/- in the Province of Ontario, 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. Dated this . day of ., L- 44ti4I.0 `� ................19 — 7 As witness the seal of the Corporation (CORPORATE SEAL) It 11.i. (TIjE HEAD OF THE CORPORATION) e, HE HEAD OF TILE CORPORATION) �rL 1111111111 1 1 II m i i CLERK , r1" w aM: 10 ‘ 1, ‘ , 44swirdisomIMIN 1 1 1: I 7, .0,00111*.ittannetilierow•nor• ., ill ill! "!.. : , • !. I r ilMnittrin11111•11. te 0 tic