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HomeMy WebLinkAboutKIN1926-918 Tax Levy— -- - -- J. — A j LF. 1R -Rev. 151n JAMMY 1973 ' I� F Rresad0l/��'. ONTARIO ONTARIO MUNICIPAL BY -LAB - - - t FOR CURRENT EXPENDITURE. r CONSOLIDATED MUNICIPAL ACT, 1922. d C04931ADATnn MUNICIPAL. ACT 1922 BY -LAW No..,,/ " form prm de VUSEPAS the taxer{ of or to beJeviejf fortF�E current or dins • e enditure of the Corporation of the ' Thim adop t" 1f0N'� rnni �} ( // for bD"s rum J 0�IO[ om year 19 ve not been collecte1, And there is or // meet l n mm nnt ordinary p monlal' will be payable in respec of such taxes a Bum sufficient to authorize the borrowing hereinafter provided for. - I adny is Untano• 1 4 AND IEEE s the nc f the said Corporation deems it necessary to borrow the sum of t N��•�•L+l "as to meet the now current ordinary expenditure of the . eats rporotion, and it is expedient to authorize the burrowing of the said sum upon the credit of the Corporation; l Olnwrt amo„m of AND WILE 9 the ordi a expenditure of th tp [/�y tt � y J ffo rr/,yt`,•}' year 1 bw / sum of (1) a alit year's ordlnurl' .�/ �� ^.^�- �� gN upendlture. y I Ld I _b!eJV Ilan. Y AN NIIEREA9 no sum has been borrowed or 18 now Oa[tltaading in real c of ray rrowing to meet the currentordinary expenditure of the Corporation for the present year, except (2) (a) Hen sure other BE IT THEREFORE ENACTED by the Municip I Connell of the Corporation of the — a>•' of amaants, It any, r �� rJ n drcedr whom . r,h sad Irom whom ✓ �i as follows: - r C U B // 1. The Ilwd or Ac ing fleud LJ for the time being, with the Treasurer of the said Corporation is hereby author. bed to borrow in one or more sums, as the same may be required, I t Qjr�Bank hta t a , tteinafter called e Ilank, an amount not exceeding in the aggregate the said sum of Ar/�n(t�� L3 of / dollars, being the amount which t tt r d unn ems necessary to mnt Ile now - current ordinary expenditure of the maid Corporation until such time an the taxes levied or to be levied therefor can be collected. 2. The Head or the Acting I lead of the aid Corporation, with the Treasurer aforesaid, &hall have authority to pay or allow the said bank interest on the said sums so Imrrowed at such rate or rata as may be from time to time agreed upon, which interest may be payable in advance, oral may be deducted from the amounts &o to he borrowed, and may also if they ace fn grant such pra nissory notes, covenants, agreements or other vouchers of the - _ Corporation as may he required by the Bank to be given as security therefor. 3. Any Promissory Note or Notes, convenants, agreements, or othervouchen which may be so given, may be `I sealed with the Corporate Seal, and signed on behalf of the Corporation by the Ilad or Acting Head and Treasurer i thereof, and duly executed and delivered to the Bank, and said note or notes, covenants, agreements, or other ry .. vouchers, shall obligate the Corporation to repay all or any of the said sums a to be borrowed, together with interest thereon as aforesaid, at such times as may be agreed upon. 4. If the amounts to be paid by virtue of any such note or notes, covenants, agreements or other vouchers shall not have been fully paid at maturity, any n further note or notes, covenants, agreements or othervouche, may I i be exeeuteil as aforesaid on behalf of the Corporation and deiveted to the Bank by way of renewal of the said obligations in whole or in part, and shall obligate the Corporation to repay the ante with interest, if any, in accordance 1 with their respective terms. • S. The Treasurer is hereby authorized and directed to apply so much of the,�aid xa so to lected as may be necessary in payment of the obligations of the Corporation created ¢a ¢foreaI . • - Read a fint, seco and third time, and passed in open 1 19 this/ /!� !�p1J8Xd113Es day of ��/ 19 �� O) Mayor Reeve, 90 Mining t corporate Seal o orporation and the signatures of the (3) ' or n ) a al nr and Clerk thereof. o f CuuscSL L i e !teals be ' for the he l4aniainfal (/ Clerk. a a fof the 7 Crttdp that the foregoing ilytfue so ly f•J.aw pa d y� th[ f e Municipal rpor of th fl��{((( G E y t1Cr A.D. �JQ,�� �(rn , cr m • h dnnd h cal of th d Corporation at g... ys [r tkia n/'�aa'T�L� Jay of Clerk. Non. —No Promtewry tame or other underukinu to Ic liven 1 um time to time Ircteunder DW he 1"r a kw sum than 330 i