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HomeMy WebLinkAboutKIN1921-809 Purpose Of Borrowing $2500. To Meet Interest On Certain Debentures61 BYU.Wao80`j Dy iar number eight hundred and N " ^ of the Town of Kinaardiae in the County of nraso and provinae of Ontario Yor the purpose of borroning the sun of two thousand five hundred dollars to meet the interest on aertain nobentures of the Ontario rout ahors Aleatria hailBny taaranteed bg tae said natniaip411t,7 of the town of r_inaardine. 'nereas the paid Corporation of the Town of A-ino- - ardins under tnn autnorla, of its :iy :.ar duly puesed Guaranteed a her. of *.he :^bunt a a of the rant Shore 5leatria Railway and is Zr no called anon to pay the interest %horeon for whiah no provision or levy has boon made rind whereas it is neaeanurjt to borrow the money therefor until such time as the taxes for the ,soar 39Y.2 aaa be aolleatad. % it therefor sheeted and it is hereby oneated by tae 1;,Rn13ipal uounail of the . of — inaaraine in uounail aesem- -bled That it shall be la%fal for the Kay or and Tre - annror of the said Corporation of the Tav7n of tinaardi:eto borrow from rim; .3onk or person Billing to land the sane duah`a sum or sums of money as shall be required to meat the interest due on nnia yebenturse so gnarantend nna %niah interest natures on the first aay of January I92P. and the first day of jul 19 %.2 e anah amount to be borrowed not to exceed the udm of twant; five hnaarea dollars The r.a_or and Treuenrer on bnnalf of the Corp - oration are norab; authorised to oaeaute ouah promisor; note or n noted as may bo required for such purpose and to nave the teal of the Qorporation attaahnd thereto ouah note or notes to boor interest at the rate a.' six ;gee o..u0. A spnainl rate to neat ouah amount and raise the oars In nerobg levied on all tno rateable property in the said Corgaratiin liable tar the payment ;noroof O whiah rate shell be in - eerted in tho 0olleators :toll of the said of `.inonre.ine for the yezr 1992 and shall be aollaatnd in ,.he cane mnnner ae other taxes and nhon so aolloatad nhall be applied in pa7tyent of the amount eo borrowed no aforennld 315aed eonitm nna finnll. pnaned tnid fifteenth any of �)naamber :;.D. I4PI. MAYOR C � 4 0 A e i