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HomeMy WebLinkAboutKIN1925-889 o borrow $2,500 for Debentures - Ontario West Shore Electric Railway.l_5? a � t t 7 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* i i i 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 By it ft ti a, A b f e