HomeMy WebLinkAboutKIN1932-1079 Borrowing to Meet Expenditures
.~..'.~"""-,,,,--,,,"........-.
..
I
~--
-
, . - /1/).4 {)-t/ . i!
.M~~~~f---Iflli~
i-
i, t
I
:.:.----}~=.-'--'-
t-.-- --.- J ,.
.~
-- 'I
~
I
,1
1
:1
'1
I.:
f'
L.P.1O Rev. 26th April, 1932
Ont.
Munlolpal By-law ror Current
E'PBndlturu.
f"Itnltd In Oonodo.
'.
"
I
1
.
.,
iJ
.,j
'.
I'
, ,
if
{v
, ....
BY-LAW No,...It!]..7--..:::::-
.
A BY-LAW to a~rlze the Head and Treasurer of the CoJPoratl~~f
the -c./~- Of--~~-
to, borrow certain sums to meet the current expenditures 01 the Corpora-
tion for the year.
i
,I
;1
11
I
,~
......,k~~..~:oratlon deems It necesaary to b~~,~~~..~,~,~..~~o~a~
to meet, until the taxes are c~llected, the current expenditures of the Corporation for the year;
AND WHEREAS the amount heretorore borrowed by the Corporation (If any) for the pur-
poses aforesaid together with the amount hereby authorized to be borrowed does not exceed
the amount which may be lawfully borrowed under Section 334 of the MuniciparAcl,Chapter 233
Revised Statutes of Ontario, 1927, and Amending Acta;
t-,
BE IT THEREFORE ENACTED by the said Council as follows:
j
.
1. The Head and Treasurer of the Corporation are hereby authorized to borrow In one
or more sums, by promissory note, by way of overdraft or otherwise and at such rate or rates of
~~~~,~~~,,~:U:;;,~,a,~,~.~~,~~~,~r~~~~_.~~~~i,~~~~~.~,,~~~,~.~,,~,~~,,~~~~~..~~:o~~~
to meet, until the taxes are collected, the current expenditures of the Corporation lor the year.
Including the amounta for sinking fund, principal and Interest ~alling due within the year upon
any debt of the Corporation, school purposes, special rates purposes and for meeting the require-
menta of any board, commission or body and other purposes for which the Corporation Is required
by law to provide.
2. A promisaory note or notea or other forma or agreement or tho CorporAtion .Igned
by the Head and Treasurer and sealed with the seal of the Corporation, for the amounta from time
to time borrowed under the authority hereof and interest thereon may be given to the Bank
from time to time as security for such loans.
3. The Treasurer Is hereby authorized and directed to apply In payment of the money
borrowed as aforesaid, together with interest thereon, all of the moneys now or hereafter collected
or received on account or realized in respect of the taxes levied for the current year and previOUS
years and all of the moneys collected or received from other sources, which may lawfully be
applied for such purpose.
4. All of the taxes levied or to be levied for the current year and previous years and all
other revenues of the Corporation, which may 'awfully be charged for such purpose, are hereby
charged with repayment of the sums so borrowed.
"
I
:-1
-I
,
,j
I
~ :
-1
i
, .
-I
-I
.1
I
!
'..-:t.,,--_':
I r 1
-; i ! I
1 !
-i'
" · i ~I
,.,..t,._~_o__.~
-'~'_. 'm::.'.""
......
j
i
_I
i
I !-r
. i i
, , ,
I I ,
--I
.J!--
I
!
t.'
"
;---
~---.,...---- -~---
~
~
1='
,
,
i
1----
!
:t,.
.----- ~~
.' ,
_. _j!f).~.()P .
- - - --! _H. ...1;....-'--
--M-~d4~~--
I
j, /,
Ii
nl"
If
~~-~I~.~--!t= -. - ~
il
-- -- "J ----~ - .
I.
'I
. - - ---~-
! '
;
',-
i
I
--1-
-r---:l-
H
-,,--
..
,,-
,
,.
'1 ,-
r
l .
5. The Head and Treasurer of the Corporation are hereby authorized to execute on
behalf of the Corporation under the Corporate Seal and deliver to the Bank an agreemeni charging
the taxes and revenues above charged with repayment of the sums so borrowed.
Passed by the said Council thi;"' 1.~,. '}(;jr d~y of -;:rfpf~ J'1;..1
f.::\
V
-
. .-. ,
, , ,
~.I~
...........................,.. , . ,'U..............
, ',. ." Clerk.
(M.,." Rom
orWardln
a thI e..
....bo.)
., '., 1 '. . - . _ . _ ,
I certify that the foregoing Is' a true copy of a By-law passed by the Council of the Muril-
" -..J~ 0'- '-, . -
" 7ff,Jt:L~ay of
- '
r, t_
o
'.....'.'n".......~....,,:,.....
", .' Clerk.
"
. .
N.B.- The attached egreemel\t must be executed.
"
EXTRACTS FROM THE ONTARIO MUNICIPAL ACT R,S.O. 1927'
SEC. 334 (1) A coun<:1I may by by-law either before or after the paulng oflhe by~law lor Impoeingthe ral.s lor lho currentyoar
euthorlze the head and treasurer to borrow such .ums as the council may deem nocosaary to meet until the laxllI are
collected the curr.nt expenditures or tho Corporation lor the year. inclUding the amount. for sinking lund, principal and
Int.rest railing due within the year upon any debt 01 the Corporation, echoot purpo...., .pecla' ratlll purpo_ and lor
meeting the requlremenle 01 any board, commillion or body and olher,purpo... lor which the Corporation Ie required
by law to prcwldo.
(2) The amount ao borrowed .hall not excood sevonty por c.ntum 01 the tolal amount 01 the rev.nu.. 01 the Corporation
ollh. precoding year, exclusive 01 moneys borrow.d and 01 procoed. dorlvod rrom the sal. 01 deb.ntures In that year.
i
I
-"
-
.-.... ..
-... ,,-, .-
r "
I .1-_...
.--1 i .!
': ~-f----f-- ---;- -1
_ ~~ _'::__-Z"-T
_..,.____u.___.
,
.._~ -------.-.".
_ --.---.------
-~- ..~_.
., . .--.
---....-._- ~~
n. :__ _':'._u _ :_~:C:=--~-":,lf:='-:--":::"!'"
:~~:L'L;,-m.' -'_"i:..'~~' .
~:-~-=.
,
i'P.,...
"
-
"
If
~~-~I~.~--!t= -. - ~
II
- - "J ----~ - .
I.
'I
-. - ---~-
! '
;
,~- -
Ii'
~;
I'
,
i, I
i
j:
i"
I" -i-~'.':-
, ' ,
I :1
i d
'.1- . -ii--
"
, .,
,
,.
, .
" ,
, --
Jthorlzed to execute on
k an agreemeni charging
borrowed.
AGREEMENT CHARGING REVENUES
o;p'or~tio~ or~e ;- J~-
,or- , ~ - for valuable consideration agrees with the
- Bank of Montreal that all of the taxes leviod or to be levied for the current year and previous
yearsand'all other revenues of the Corporation, which may lawfully be charged forsuch purpose,
shall be and: tho samo are hereby charged with repayment of the sums borrowed by the Corpor-
ation from the Bank of Montreal undor tho By-law copy of which Is attached hereto.
.; patodthe,lJ""'~flJ~daYOr ~~- 1932
~~J--p
, ,
~
~.I~
.. , . ,'U..............
',. ." Clerk.
(M.,." _
orWardln
a thI e..
........)
(~
. ',. - I .
. )i ~!ll;;l
(M_._
01 Warde"
ulho_
................. maybe.)
he Councilor the Muril-
~
. -
, ~19J2
~~.,
(jj......:......
. ' Clerk.
.\
, .
"
~,s.o. 1927 '
lor Imposing the ,.t.. lor tho cu,rent y.ar
em nocosaary to meet until the laxea are
,. amount. for .Inklng fund, principal and
purpose., .peclal ,atea purpo_ and for
... for which the Corporation ~ required
.mount 01 lhe rev.nu.. 01 the Corporation
'rom the sal. of debenture. In that year.
r
i i
- ~----~-- ---:- -j i ___n'". _.:.. .-.:...--.;:
I: I:
, "
-Z"-'-l: ~_~=. .--r._.,,"-"_'"'___......
_1-_-0
I
-T---"---~
- '~~-:-F=
=....~.__~_-'L_"'.q:
,;",,-
.q;.~~::2.?~~~o'"'~"..': #.,---Io~""___
I
.
~
[
.___J
- -- -- ---------.---.--...-.---.-----
" !
l!/I~~~ ~~T ~-"~"<-""II'Tc ~~
!~]Ii'iHtd'4~: = .t
..J. /;;_,
~
. ;...
k"cd
~_..._._---~_._.
.
~__l
L
!i
l'
'r-
,
" , t. ... ."
,
\ r
-'-j
.'
,
",
. .'
r
J---'
I'
l; "i
BANK OF MONTREAL
,
f
.......Branch
r
...............,... ..
'.
,
I
. ,
--~_.~
BY.LAW /(}7 r
Authorizing the '
Borrowing of $..J.:J)P..f!.:..~.~................................,.
For Current Expenditures for 19"1.~
. ,
'- ;~
, .1
, II!
'n' j
._--,
I
r.
n ~.
--'BY-LAW No..l.q~,
MUNICIPAL CORPO~ATION
OF
I
,
I
"
,
"---1
i
1.__-.
~.__.-.
i
-I
-_..~
,
,"
-1
,
;-\
\
'.-_4
~-4
I
:i.n__
!
'/
,
-I
!
,
......:-~
Daled~tM'IA....,'2:,?.........,9.~2
J
-1
,
.. I
i
L __l;
L F. U Rev,"", Aorl~ 1832
--. ~ ._---_.~.~ -.--
'______1 ~ ill'..::
.. "-t-; >- l- ~-
-- ,. -._. _'~l---.r-.:' l- _ .
. --',,-,..,-,.---....i
_.;- 0-
.. ... ~__U'_'
--.--.--..
=~-"'~"'"---.- --.--~--.....-----
0."_::;;:--,--1-:::
_ J,.. ~, __ ______
- -----_ ~-_.'_.,_'__c., ~-,.,-_.