HomeMy WebLinkAboutKIN1914-659 Borrowing sun of $2500.00�S
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BY LAW NO 869.
By Law number six hundred and fifty nine of the Town of Kin.
- oerdirR in the County of Bruce and Provinoe or Ontario
For the purpose of borrowing thp, aini of two
thousard five hurArfd dollars to rent the irtereat on aertalit
deberturea of the Ontario west shorn elsntrio Railwey guRron
-toed by the said Uurioipality, i
Whereas the Corporation of the Town of Kinnard,
-dine under the authority of its by law duly pamaed .guararte-
-ed oertain of the debentures of the Ontario west shore Rleotr -
-io 1;nilway.Rrd is roe oalled upon to pay the irtprnst ±hereoiy.
for whloh no provision or levy hem been rade ;
And whereas it is reoeaaary to borrow the rnone� '
therefor t urtil such time as the taxes for the year I915 can
be collnnt.Pd.
p It -Ved by the Vurl t
olpalCOUroil of t
he ?own ofKinoariine ineol
COUnn it adaorbled.
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(I) That it shall be lawful for the :!ayor and
t Treasurer of the said Corporation to borrow from any bank or
person willing to lend the sar!e .such a sum or sums of money
as shall be required to reet the Interest due on said deben_
-tunes so guaronteM .ard whloh interest matures on the
first day of JaruRry I016 and the first day of July IDI5 .much
amount do to be borron.d not -to excend the sum of two *.housaml
five hundred dollars.
(2) The Uayor and treadurer on behalf of the
a& Id Corporation are hereby authorized to execute auoh pro -
- miaory rote or rotes ad r:ay be required for suoh purpose.
and to have the anal of said Corporation attaohed thereto
uuoh rote or rotes to bear interest at the rate of five per
aunt per ernun
( S ) A sFeoiel rate to meet aunh Rmourt arxi`
raise the aRme
Is hereby 1PViM or all the rateable property*
In the said Corporation ,liable for the payment thereof .
;r which rate shall be irserti4t in the Colleotors roll for the
Town of ianoerriine for the year 'IOI6. and shall be collooted
in the mame.naaner Rs other taxes and when so oeileoted
shall be applied in pnymert of gush txnourta so borrowed,
7gte3 sent iauaod in oper Council thim £lftePnt}t,
day odf Deaarbnr A.D. I014.
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