HomeMy WebLinkAboutKIN1929-989 To Borrow $20,000 from Bank of Montreal_s
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f LF. 10 -Itev, 15 January 1923 54591. o
ONT,
I . ONTARIO MUNICIPAL BY•LAw•
FOR CURRENT EXI'ENDITURR. w
CONSOLIDATED MUNICIPAL Act, 1922.
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This form nl,lY Ir DY•LAW No. • ��•
adopted to provide WHEREAS the taxes levied or to be levied for the current ordinary expenditure of the Corporation of the
lot barrilio Io 1
meet alai curronr 1 °f Klnaerdine for thoyear 19 i9 have not been collected, and there is or
j o me - I :wY e mu i!i: will be payable in respect of such taxes a Bunt sufficient to authorize the Iorrow•ing hereinafter provided for.
Path In Om ulo. ANn WHICREAS the Council of the said Corporation deems it necessary to borrow the suns of
I � }1 - dollars to meet the now current ordinary expo )
Q�1 ° ,o6e
1 I COIpiDI%[rrlll, it is expedient to authorize the borrowing of the said nom upon the credit of the Corporation fl t )fi ummim rY oNlnaq• of
rt
I + >ra AN EAS the ordinar y ex
D WHERh enditure of the Municipality for the year 19 was the sum of (I)
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1 exltnJhurc. n
71 p " o' �QirnhS�r.� I>�l:r�rom • ER dollars.
Ik n �� EAS .ls now outstanding in respect or any borrowing to meta the
current ordinary expenditure of the Corporation for the present year, except (2)
L`I Ile If Diner Dil IT 711EREFONR ENACTEII by the Munici I Council of the Corporation of the
ornnuntr, If sm; pa
•IrruJy borowr.l, l-l.!)�1ft. ^ Q� 1(1 an follows: of
of
wnd from whom.
i 1. The I lea, urActing head for the lime being, with the Treasurerof the said Corporation, is herebyauthor.
bell to borrow- in one or ature bunt as the slain may be required, from the Yank of Montreal, hereinafter culled the
,.I Bank, an amount not exceeding in the agggregate the said sum of
dollars, acing the amount which ill lull to mttt the now
current ordinary expenditure of the said Cor ration until each time t e to uXls levf t!'A Yqr�,
x IV collected. Corporation � [ 1 t a therefor can
2. The Head or the :acting Heart of the said Corporation, milli the Treasurer aforesaid, shall have authority
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to pay or allow too said bank interest on the said sums so borromed at such rote or rates as may be from time to
tinge agreed upon, which interest may IV pay ;-1610 in advance, and may le deducted front the amounts so to be
lorromed, and Islay :11.40 If they see lit grant such promissory toles, rownants, agreements or other vouchers of the
Corpromtien ;is may he required by the Bank to be given as security therefor.
scaled % the Curlxtnte Seal anal signed n co v enant s,
Itehalff it a ICurpw orot
by the vouc mi
or Acting ] land and Treasurer
thercof, and Jody exn•nled and delivered to the Bank, and said note or notes, covenants, agreements, or other
vouchers, shall Obligate the Carpnratiun to repay all or any of the said
lher stuns so to Ile lorrow•cd, together with interinterest 1 , rnn as ahrresud, at Hoch Ines as may Is- agreed upon.
I
4. If the amounts l paid b
shall nut of have liven foll virtue of any such note or notes, covenants, agreements or other vouchers
Le executed as aruresai y pai d t matunty, any further note or notes, coccn rots, aggreements or other vouchers, may
` d on behalf of the Corporation and delivered to the Ilank by may of renewal of t)e mid { ` obligations in "])ulcer in pearl, and shall obligate the Corporation to repay the same with interest, if any, in accordance
with their reepeulve terms.
3. The Treasurer is hereby authorize(] and directed to ap(dy so much of the mid taxes So to be collected as
may he necessary in payment of the obligations of the Corporation creatcvl ns aforesaid.
II
day OR
Ifead at first, second and third time, and passed in open Council this
{ Jann;lr, 19„
_. Ill \lalvr. Eeeec.
of WhIll i the cor orate Seal of the Corporation and the signatures o 9 :invent h
f the (3)
' I 'co'n'er t lcml r and Clerk t[term[. l
of
"nrx11.
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a
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i� 7 ttrhfp that the foregoing
of the is a true copy of a Ifs• -law pas.ral by the Council of the Municipal Corporation
1111 n on the day of
�f this y n a
P '1 ,7a dt{11e saIJ ' rporation at Seventh
,dy er
�aard3ati) 1
c anttn2T I
- i
i
8GL
...............
Clerk.
' Note: So Nondoaly Stele m olho .."Im tin to
t Y t" Riven Imo thne to canna h may Iw for a ko rum tlun iSd.
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