HomeMy WebLinkAboutKIN1925-912 Borrowing Debenture $2,500 Ontario West Shore Electric Railway, N-ZZ4
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By -Inv Number Nine Hundred and � of the Town of Kinsardine,
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in the Connty of Brace and Provinae of Ontario.
For the purpose of borrowing the sum of Two Thousand Five
Hundred Dollars (O2b0O), to meet the interest on certain do-
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benturea of the Ontario Feet Shore Eleatria Railway guaranteed
by the said Muniaipality of the Town of Kinaardins. and
Phereas the Corporation of the said! Town of Kinsardine
under the authority of its by -law duly passed guaranteod asr- ed
twin of debentures of the Ontario Tent Shore Lleatria Railway, ooar
and is now nulled upon to pay the interest thoreon for which y
no provision or levy has been made.
And whereaeit is neaeeoarr to borrow the money therefor, r. h to
until such times as the taxes for the year I9 P.6 aan be col -
leatod.
Be it therefore scented end it is hereby eneated by the e
Mnnlaipal Connail of the Torn of Kinaftdins, in aounail SO-
gambled. .
That it shall. be law {al for the Mayor and Treasurer of
the a id Corporation of the Town of Kinsardine to borrow from n of
any bank or person Filling to lend the same such a gam or
some of money as shall be required to meet the interest due
on said debentures so guaranteed ( and which interest matures o
-on the First day of January. I926, and the First day of July,
I9261 such amount to be borrowed not to exaoad the gam of the
Tao Thousand Five Hundred Dollars.
The Mayor and Treasurer on behalf of the Corporation are )d
hereby authorised to exeaate euah promissory note or notes
as may be required for sash purpose, and to have the seal of
the Corporation atteahed hereto, such note or notes to beer
interest at the rate of 0 per aoct.
A epeaial rate to most such amount and raise the same is
hereby levied on all the rateable property in the grid kid
Cor-
poration liable for the payment thereof, which rate shall be
inserted in the Coileator'e Roll Of the said Ton rt n o! Fin- ,
aerdine for the year I926. and shall be aolleated in the same
manner no other taxes, and when go aolloated shall be applied In
in payment of the amount so borrowed as aforesaid.
9 1nn ed . coaled and finally passed this �� 'day of .Ing
Deaembor, 1926. of
W MV Z' /'V ling
Tov■ Clerk. Mayor. the
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