HomeMy WebLinkAboutKIN1912-611 Borrow the sum of $2800.00 to meet interest Ontario and West Electric Railway
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suoh purpose and to have the seal of snid Corporation attached thereto,
Buch note or notee to b~ interest at the rate of five per cent per annum. t-----
3. A spec1al rate to maet Buch amount and raise the Aane is hereby ~I~
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levied on all the ratoable property in eair\ Oorporation liable for the i-f-&'--
pay~ent thereof which rate shall be ineerted 1n the oolleotor's roll tor t-Cf~
1912 and shall 1-e collected in the earne manner as other taxeB an1 when eo i_lc-&~
collected ahan bti SoJlPl1ad ln payment of'such amounta so"borrowed, .h ~~
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A ~y-Law to borrOW the sum of ~?600.00 to m3et the interest on
cert~ln do~entures of the Ontario and W~st Shnre 81actrio Railway
~uarantaod by eaid Munloipallty,
WHEREAS the Oorporation of the Town of Kinonrdine unr\er authority of
its by-law duly paRsed guaranteod oartnln of the debentures of the Ontario
and West Shore Eleotr1o Ral1way and 1s now o&lled upon tp pay the 1nterest
thereon for whioh no provision or levy hae been made,
AND WHEREAS it ls neoessary to borroW the money therafor until suoh
tlme &s the taxes for the year 1912 oan be oolleoted,
BE IT THEREFOqE R8S0LVED and it is hereby resolved by the Muniolpal
Council If the Town of K1noardine,
1. That lt shall be lawful for the Uayor and Treasurer of ea11
Corporatlon to bo~roW from any Bank or per eon wll1ing to lsnd the Rame
Buch oum or eumR of money as shall be required to Deet the lnterest and
oo~poundlnt~rest du~ on oal1 debentures so guarante4d and ~hich intereet
matured on the First day of January A.D. 191~ and matures on the First day
of July A.D. 191P.,such aMount 80 to baborrowed not to eKceed the su~ of
Two thouoand slx hundred dollare,
~. '!'he Mnyor and 'treaRurer on behalf of sal1 \I orTlor at 10n at'e hereby
authorized to exeoute such promissory note 01' notes as may be required for
day
Dat<lrl. and pnsse:i in open council at 1\1noardlne this
lIay A. D. 1912.
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