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HomeMy WebLinkAboutKIN1927-958 Borrowing $2,500 to meet interest on Ontario West Shore Debentures., l �I 1 t u r �_ rZ.9'� By -law Number in the County BY -LAW 110.�hb. + BY -LAW NO. 47 s Y Nine Hundred and Fifty fli f the Town of Kincardine, of Bruce and Province and of Ontrio. kor the purpose - 1 borrov.ing t•e sum of Two Thousand Five Hundred Dollars ($2600.00), to meet the interest on certain Vs- bentares of She Ontario West Shoro Electric Railway guaranteed by said Municipality of the Town of Kincaraine. tf! Whereas the Corporation of the Raid Town of Kincardine, under the authority of its by -law duly passed, guaranteed certain of debentures of The Ontario West Shore Electric Railway, and is now called upon to pay the interest thereon for which no pro- vision or levy has been made. Add whereas it is necessary to borrow the money therefor, until such times as the taxes for the year 1928 can be collected. Be it therefore enacted and it is hereby enacted by the Municipal Council of the Town of Kincardine., in council Assembled. That it shall be lawful for the Mayor and Treanurer of the said Corporation of the Town of Kincardine to borrow from any Bank or person willing to lend the same ouch a sum or sump of money as shall be regaired to meet the interest due on said debentures so guaranteed (and which interest matures on the Fitat day of January, 1928, and the First day of July, I928) such amount to be borrowed not to exceed the of Two Thousand five Hundred Dollars. The Mayor and Tseasurer on behalf of the Corporation are hereby authorized to execute such promissory note or notes as may be required for each purpose, and to have the Beal of tae Cor. poration att b d thereto. such note or notes to beer interest at the rate of per pent. A np cial rate to meet such amount and raise the same is hereby levied on all the rateable property in the said corporation liable for the payment thereof, which rate shall be inserted in the Collector's Roll of the said Town of Kincardine for the year I928 and shall be collected in the same manner as other taxes, and when so collected shall be applied in payment of the amount so borrowed as aforesaid. Signed, sealed December, A.D. 1927, Town Clerk and finally passed this Fifteenth day •'?"' Mayor ( i I . I _I rZ.9'� By -law Number in the County BY -LAW 110.�hb. + BY -LAW NO. 47 s Y Nine Hundred and Fifty fli f the Town of Kincardine, of Bruce and Province and of Ontrio. kor the purpose - 1 borrov.ing t•e sum of Two Thousand Five Hundred Dollars ($2600.00), to meet the interest on certain Vs- bentares of She Ontario West Shoro Electric Railway guaranteed by said Municipality of the Town of Kincaraine. tf! Whereas the Corporation of the Raid Town of Kincardine, under the authority of its by -law duly passed, guaranteed certain of debentures of The Ontario West Shore Electric Railway, and is now called upon to pay the interest thereon for which no pro- vision or levy has been made. Add whereas it is necessary to borrow the money therefor, until such times as the taxes for the year 1928 can be collected. Be it therefore enacted and it is hereby enacted by the Municipal Council of the Town of Kincardine., in council Assembled. That it shall be lawful for the Mayor and Treanurer of the said Corporation of the Town of Kincardine to borrow from any Bank or person willing to lend the same ouch a sum or sump of money as shall be regaired to meet the interest due on said debentures so guaranteed (and which interest matures on the Fitat day of January, 1928, and the First day of July, I928) such amount to be borrowed not to exceed the of Two Thousand five Hundred Dollars. The Mayor and Tseasurer on behalf of the Corporation are hereby authorized to execute such promissory note or notes as may be required for each purpose, and to have the Beal of tae Cor. poration att b d thereto. such note or notes to beer interest at the rate of per pent. A np cial rate to meet such amount and raise the same is hereby levied on all the rateable property in the said corporation liable for the payment thereof, which rate shall be inserted in the Collector's Roll of the said Town of Kincardine for the year I928 and shall be collected in the same manner as other taxes, and when so collected shall be applied in payment of the amount so borrowed as aforesaid. Signed, sealed December, A.D. 1927, Town Clerk and finally passed this Fifteenth day •'?"' Mayor ( i I . I I h � r � � ' 1`