HomeMy WebLinkAboutKIN 1905 490 Borrowing By-law
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WHElmAS it is expedient to raise b)' way of loan the sum of Two tnoUBanc1 uollars
/J Y- LA II' No, 490
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required to meet the current expenditure of the corporation of the
Town ot Klnoarc.1Z18
liE IT RESOLVED, therefore, and the Council of tile salu To'lfl1 of Klnoarulne
enact as 1'01 h,WS :-
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1St. That it shall and may be lawful for the - Mayor - and Treasurer of the
iJalc1. Town 01' Klnoarulne and they arc hereby authorized and
empowered to borrow from 'l51}8 msrc~nnl$ ynnk oq ennnbll, at the Office of the said
Bank in the Town - of Klnoarulne _ the sum of Two tnollBana.
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101)
Dollars
for the purpose aforesaid.
, Q Q 2nd. That the said - U~or --- and Treasurer arc hereby authorized and
empowercd on I,,'half of tae Oorporatlon 01' tile Town of KlnoarurV\lfgn and
execute, as representing such advance, under the Corporate Seal of 01' tile .;alu. Town
ot Klnoarulne
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and deliver to the manager of 'l51}8 trlcrtl}nnl$ ;9nnk 01 Sunnbll, at tne uaoU. Town ot Klnoardi.e "I
the promissory nole, or notes, of the said MayolJ an... Trea..ure. . , i '
payable at the office of the said Bank in Klnoar",l~ on the Fil'teenth
') day of 00 to ber T90-1s , with interest thereon at the rate of 5 per cent. per annum,
and also, to execute in like manner renewals thereof, in whole or part, until such advances are
fully repaid.
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Done and passed in Council at 'PIUft&lrci!ii8Jl.i.l this Tw9..J800nu oa)' of
June T90S 18
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