HomeMy WebLinkAboutBRU 51 695 Borrowing By-lawr
BY -LAW NO. 695
TIE CORPORATION OF THE TOWNSHIP OF BRUCE
A By -Law to approve of the borrowing of
4250,000, by the Town of Port Elgin upon
debentures for the ereotion and equipment
of an addition to a High Sohool Building.
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Whereas, the Saugeen High Sohool District Board has applied to the
Corporation of the Town of Port Elgin for its approval of the borrowing
of Two hundred and fifty thousand dollars ($250,000) upon debentures to
be issued by the Town of Port Elgin for a term of twenty years for the
purpose of erection and equipment of an addition to a High Sohool
Building for the Saugeen High School District.
A ND WHEREAS the Counoil of the Corporation of the Town of Port
Elgin is passing a By -law, copy of which is hereto attached, for the
purpose of the said borrowing and issuing debentures and is arranging
for the approval.of the Ontario Municipal Board in respect thereof.
THEREFORE the Counoil of the Township of Bruce enacts as follows:-
1. The Corporation of the Township of Bruce hereby approves of the
said borrowing of Two Hundred and Fifty Thousand Dollars ($250,000)
2. That commencing in the year of 1952, and in every year thereafter in
which an instalment of principal of the said debt and interest become
due, the Corporation shall levy and raise its share of the said
principal and interest and any other expenses in connection therewith
as determined in accordance with the provisions of the High Schools
Aot or any amendment, substitution or any other law which may be in
force from time to time upon all of the rateable property included in
in the Saugeen High School District, of the said municipality.
3. This By -law shall come into force and effect on the date of the first
passing thereof.
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Read r, first and second tine this sixth day of September 1951
Read a third time and finally passed this sixth day of September, 951.
kdLERK
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