HomeMy WebLinkAboutKIN1923-850 By-law to borrow $2,500 to meet interest on debentures of the Ont. West Shore Electric Railwayi 108
BY -LAN ao.�s
For the purpose of borrowing the swa of Two tt!ousand five hundred
dollars to meet the interest on certt,in debentures of the Ontario
Neer hhorw iaectric kr.ilymy,i*ua.ranteed by said !,+unicipality.
t. !I '- !•' "HMAS the nail lorporrition of the Tnr.n of pincnrdine under the
authority of its by -iuw duiy passed guaranteed certain of the
r deb nturee of the 'eat Snore 'lectrir, Itaileray and is now called
4 upor. Lcn pu. Lne 1: tercet thereon for which no provision or levy
har, born r,r
it it nece -nury to borrow the money therefor until
n' mock time an Lnm tax--n for the year 192,3 can he collected;
IT Ti: 101PU XNAi:f - ;D and it is hereby enacted by the
n.icii�sl Cm:rcil o; t.;:e Town of rincardine;
E_
That it nr'.ta). be lrtr,rul. for LhA ;:xyor r+rr1 the Trouei,rer of ti:e
said orporaLion rind tile;; c.re hereby authorized to borrow from
any Pank or person or rernonrr wiling tc Lend Lr,e i,,r,a such sun or xx
1 xl sums of .money r.rr shall be required to meet Lneinterest due on said
de`)enturen no t,uarnnteed a.,d which interest mufures on the First
( 1 d :y 0" �uru:Hry,1923 and ti,e irst day of Jul-.1423,811c,. amount to
be. borrnyved not, to ezceeti tup aua of t!nty five nundred dollp.re;
f he ' ayor t: u} , roan rer on Y:cuali' of Lh t'orporetlon are hereby
i autiturtzed to !xecutr ouch Fro tceot•; note or nntes as may be
regr,ired for ,n:cl. purFone . to aLt:,ct: LhereLu tr,e seal of the
Corpurution,sucr, note or notro to t.eur inLertst at tite best rate
'•� obtllnnble;
special rr.th :.o maeat su( ;4i k,.:;w,t and raise W,e sa:ee hereby
�. levied on all L. rate Lle yrui.erty it, the s++id Corporation liable
for Lne p. c„_ L.el l',::,aC., r. La eus11 be inserted if, Lne
Collector'e roll of the sai:i 'luwn o; Yincardiue for the your $ 023
i and shall be �ollecte. to tna 9a.r,e ,,,nnner a,: otr;er ttxes and when so
collected shall be applied in 1.uyuenb of the :.ruount so borrowed
afoieerid.
r Finally F "ussed,si,gned and uerled title• day of
anuury :., P.. ln2?
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