HomeMy WebLinkAboutKIN1925-889 o borrow $2,500 for Debentures - Ontario West Shore Electric Railway.l_5?
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BY -LAIC 130# s0 f t .
By -law Humber Light hundred • and xight3l� the Town of Kinaardinsp
in the County of Bruaa and Prdvinaeo of Ontario•
For the purpose of borrowing the sum of Two Thousand Five
Hundred ollare (02500) to meet the interest on certain debentures
of tbefntario West Shore Klectria Railway guaranteed by the said
Kuniaipality of the Town of Kincardine.
Whereas the Corporation of the said Town of Kincardine
under the authority of its by -law duly passed guaranteed certain of
debentures of the Ontario West Shore aleatris Asilway and is HOW
called upon to pay the interest thereon for obiab no provision or
levy bas been made.
And whereas it is neasseary to borrow the money tberefor
until -enab times as the taxes for the year 1926 can be sollested.
as it therefore enacted and it Is hereby enacted by the
Municipal Counail of the 'Join of Kincardine, in Connail assembled.
'that it shall oe lawful for the Mayor and Treasurer of
J,be said 4osporation of the 'Join of Kincardine to borrow from any
Hank or person willing to lend the same eucb a sum or sums of money
an sball •be required to meet the interest due on said debentures
so guaranteed land wbiab interest matures on the First day of
January X626 and the First day of July, I926. snob amount to be
borrowed not to eiseed tts bum of Twdnty jiive Hundred Loliars.
F&s Mayor and Treasurer on behalf of the Corporation are
hereby anttlorined to execute enab promisory mote or notes as may
be required for enab purpose, and to have the seal of the i�or-
poration attaabed thereto . enab pots notes to bear int
nt the rate of six per cent.
A speai ►1 rate to meet auab amount and raise the some
is hereby levied on all the rateable property in the said Cor-
poilation liable Pori the Payment thereof, wbiab rate shall be
Inserted to the Collector s xoll of the said Town of Kincardine
of for the year +926 and sball be colleated in the same manner
as other taxes, and when so aolleated shall be applied in pay-
ment of the amount so borrowed as aforesaid*
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biped, sealed and finally passed this Jifteentb day of
;ecember, A.D. I994,
Town Clerk )"� Uay a or
#t f f /44(4# fill 164/4 0-9,041 X d4l
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