HomeMy WebLinkAboutKIN1932-1077 Temporary Advances for Local Improvements
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&.P. U 18th Deo. 1931.
ONT.
Municipal By-Law for Temporary Advancel
under Locallmprovemont Act.
22lI2.'I f"It_ In CInada
BY.LAW No.....,J.Qrl......,"
A BY-LAW authorizing the obtaining or temporary advances to meet the ooet or certain
worka undertaken ae a local Improvement pending the completion thereof.
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WHEREAS the Municipal ,Council or the Corporetlon or the !olin or
Qnoa1'd1De haa paleed Conltructlon By-law number '.r'JI.~ which
la annuod hereto, authorizing the conatructlon of the works d..JRJa'(",W~T'~_ve';;f6~H"der the
provisions of the Local Improvement Aot, the estlmatod COlt of which worka Ie $ 1000.00
AND WHEREAS It la doalrable to egree with a bank for temporary advances to meet the coat of the said
worka pending the completion thereor.
,
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BE IT THEREFORE ENACTED by the said Council Ie follows:
1. The Hoad and Troaauror of the Corporation are horeby authorized to obtain from the Bank or Montreal
temporary advances at a rate or ratoa not oxceedlng Six per cent per annum represented by a promluory
note or promlaaory notos or by way or overdraft or otherwise not exceeding lliDe !l.'houa8D4
dollars to meet the coat of the Slid worka pending the completion thereof.
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2. A promlasory note or notes or other vouchers, sealed with the Corporate Seal and elgned on behalf or the
Corporation by the Head and Trealurer thoreor, ror the advancee lrom time to time obtained under the authority
hereof and Inleroat thereon, may be given to the said Bank providing for the repayment or or repreeentlng the said
advances with Interest thereon ee aforesaid.
"
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3. The Treasurer of the Corporation I. hereby authorized and directed to apply first In payment or euch
advances with Interest thereon Ie aforesaid III moneys borrowr on the credit of the Corporation to repay euch
advancea and to dofray the cost of the said worka and all mone). rrom other sourcea properly applicable to the coat
01 the said worka.
Paaaod by tho Slid Councillhls
J'oarieenth
day of
1932'
o
(Mayor or Roovo al the calO
may be.)
)
t
I certify that the foregoing la a true copy 01 a By-law passed by the Council or the Municipal Corporation or
the!own or X1nafd1ne on the J'gurteenth day of November 19:12
and that the paper-writing hereto annexed Is a truo copy of Construction By-la"Numbe,s 106'1-1058-
106~10'10
passed by the aaid Council on the Sixth day of September 19 32 . and
By_Lan 1067-106' P....~:::~ 6~':~::O~'~~~~-
~J-Laws 106~10'10 passed Oot. 12, 1932
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