HomeMy WebLinkAboutKIN1934-1126 Borrowing to Meet Expenditures
~1I1'~{
----_.'._" .' . ..,-
._-----~_.
.,
tn,.- ~..-
.~4t~ (~I
, ,
-- ---+~-.'__1.--' - .-- --,
! ' ,
n.~.n lolt. -
.
i
;
, ,
1---1
I "
I
I----: .
, ....
I I'
1----; .
I I, .-~
,----I '
f.
! ;
. -.,
LF.lO Rev. 30th Juno, 1933,
Onto ..'
MunicIpal By-law for Currenl
Expendltul1llo
ao.o+ Printed In CanIda.
'- ...
-~
.~
,
,
~~-,::'~:::!f/ff~~~
A BY.L~W to authorize the borrowing of $,../2(..I2.!?/?.:!!J!.............................
~..]~..cz:.;~::~~,;~.~~..:;;~:.~.~~.~.~:..~~~~~:;..~;:a:
to meet, until the taxes are collected, the current expenditures of the Corporation for the year;
------.,j
-~ ,
"1
1;'
I H
r-.....4
!
AND WHEREAS the total amount of the estimated revenues of the Corporatior. as set
forth In the estimates adopted for the year 19.1.f1. not including revenues derlvable~rlved
:~~PS: '=~:d f~om rears of taxes, borrowings and ISSz:.:es f debentures Is .~.~.t'C-.~,
::~:~.,.~",r ~ , -"./ t: ~ LA. /" - / - ~ .,
:r~,'~~ lh... . ,. 4<<.I.?!.T./d.(.F.r...'. .... alL~..............,........,......~IfC..dollars.
AND WHEREAS the totalllmount heretofore authorized to be borrowe;;thl ,)'Qll1or
~rE:.,'~~: ~he ulposes~tlOned In subsectl n (1) of Section 334 of The Municipal Act Is.~.. .l1t.
Bl;uw(o) ,-
lh -,. ~I/i.---K ,." Co
.. . ........ ....... .l'..';j!....... ...;r.;;~:;......,;.~lIars, of which ~ Jr~lIon has already
, borrowed a total of..J:~. .1.J-..41t/t.a..:...WI:14.(,lI!..4.-I1d..IJJ1:~dars,
THEREFORE the Council 9f the Corporation of the....-:::...J~..........
of ,........=..~tti~.................hereby enacts as followe:
1. The Head and the Treasurer are hereby authorized on behalf of the Corporation to
L-...
!i .-.
V-1
t_..;
L...J_ :
, ~ '
~" .,
. .
;,' '---", '
I 0.--:
i ---:-J
\ ,
, .,
, '.
\
~
.. r-'
,1"-1.
" ' ;
',L\!
\ ..
-,.~, ,;
. - 1
: ,J 1 I
"j"
, ,
'.\ I'
j i
!~':
; 1
a, '7~;
'rfl
,
,
I
.
poratlon, to the Bank a promissory note or notes, sealed with the corporate seal and signed by
// /
them for the moneys so borrowed with Interest at a rate net exceeding..J::..(l:....per centum
borrow from time to time, by way of prOmlSS~rY ta, ~~of Mon~re I, a sum or
-JII'
sums not exceeding In the aggregate....k .. ., ....... . ...... ,.......'...........,....
.............................................................,..............dollar8 to meet, until the taxos are collected, the
current expenditures of the Corporation for the year, including the amounts requir3d for the
purposes mentioned In subsection (1) of the said Section 334, and to give, on behalf of the Cor-
per annum, which may be paid in advance or otherwise.
-r__--:;;;:;;:.rl:;.~7--::;'.:;';O:,,::....:::;..-=---
--~
"
~
-",
j
t ·
~l._.
I' i ~ lL
.~~. :-.--
i" ~. '~=H
, t
,
'r-------i
; ~..
, I
r....., .
L_t
; 'I
I, '
,-
~I ~:
h
r;
1!-_.
I .---.
, t
.---! '1
. ,
~.
0,
".
f--.
, I
, I'
I 2--.'-.-~ i
, r:
iJ-j i
j !, ,r-,
r\/,~\',l
'I. .. 1
:;"\- -'
. .:.,
. ~ I I
~ . '\-~ .1
'~-:-~ ,i1
;--/...1
n.-IJ....J · !
,~ ',"-,i
,--: ., t
'-d
-1 i
j:' II
iii' ..
.i';'T
~ '1:1"1-'_-:
'1l!i'" it' ..
:~i:li~ t t ,j
:'11 ;;, ~. -I
: -i: i';~i---
...~ 1I1f7,-{
..J
I
I.
,...____."...,_ I
,
,.~I1t~ (~l
,
i
,'1-:, --:,:-I~I~- J
_ _..1
2, All sums borrowed from the said Bank, for any or all of the purposes mentioned In the
said Section 334, shall, with Intllr/lSt thereon, be a charge upon the whole of the revenues of the
Corporation for the current year and (or all preceding years, as and when such revenues are
received.
3. The Treasurer is hereby authorized and directed to apply In payment of all sums
borrowed pursuant to the authority of this By-law, as well as all other eums borrowed In this year
and any previous years, from the said Bank for any or all of the purposes mentioned In the said
Section 334, together with interest thereon, all of the moneys hereafter collected or received on
account or realized in respect of the taxes levied for the current year and preceding years and all
of the moneys collected or received from any other source, which may lawfully be applied for such
purpe:assed thiS..=.:hfIt.~....................daYor...:; 4t.kt.tJL~...19l V
OORPOAATE
SEAt. "- --J."" n) 1
- ~ ./.
............................... .. ,(.-... .I..~..1.l............,
CIortr.
I ~bY ceitif that the foregoing is a true copy of By-law No....LtYiof the Corpora-
tion7.JtIflIIL... ....~~if?..ln the Province of Onterlo, duly passed at a
,,*,ung or the I df the iaid Corporation duly held, and that the said By-law is in full
force a:a:;Ct~iS...........=.J,Id=.,.,...daY of.=.....t2ti~.2~
As wi tnose the Seal of
the Corporation.
...............~~lif.4.._
CIortr.
OORPORATE
BEAl.
Boa. 334
,..nactld
,813.
f~~!
'-'.:~~
F~i~;
Cumnt
bor'owl~
EXTRACTS FROM THE ONTARIO MUNICIPAL ACT R's.O. 1927,
(1) A council may by by-law olther befo.. or after the paaalng of the by-law for Impoolng the ratea for the
cur..nt year authorize the head and t....u..r to borrow from timo to tlmo by way of promlasory note ouch suma U
the council may deem -.ry to """'t, until the taxo& a.. collected. the current eapendltu... of the corporalion
for the year, Including the amounts ..qulred for linking fund, principal and Inte...t failing due within the year upon
any debt of the corporation, achaol pur~. lpoclal rales pur~, and for any board. commlalon or body and
other purposes for which the corporation Ia ..qul..d by law to provide.
(2) The amount which may be borrowed In any year for the purP<*8 mentioned In subaoctlon 1 shall not,
except with the approval of the Ontario Municipal Board, Bacood ..WIlly per oontum of the total amount of the
aetimated .."",,_ of the corporation .. aet lorth In the IlItimales adopted for the year.
(3) Until such IlIti/ll8l&& ..... adopted. the limitation upon borrowing plOlCrlbod by subaoction 2 &haIltem-
porarily be calculalBd upon thellltimalBd ..venUlll of the corporation u..t forth In thellltlmatea adopted lor the
next preceding year.
(4) For the purpOBM of lubaoctions2 and 3ll1tlmated ..venuoaahall not Include ..venuoa, derivable or derived
from ar..... of taxes. borrowlnll8 and laeuoa 01 d.benlu....
;,-.
..........----- '.
:-:o-fi-F-".:""-;-
--'0~~,""-:~
Limit upon
borrow-lngI
--.
.,-,.~'..
. ')u-,'_h
-'1?~~
-'-:~
.::{,:::~
Tampo,.,)'
arpl.ltlUO"
o _Urn._
of p,..dittg
,.a'
Eldualon
'rom _tlmaIM
,......nuet.
it:
II .
I
. l___
I~"'ff.,
"; , j-
.~~. (~)I'l
,:_,_~ I
,
j'
l
I . I
. II .\1:
,.1. -I,
.'
'I
FI'-'
; ..If
,.,
tl
~'f
, ~
,
" -
\..
BANKOF MONTREAL
,,~idt...{.,..~6raneh
BY. LAW
Authorizing the
t-.
.-,"~ i
:;'\
l: ~ j
)..
Borrowing of $./"I2..t1.i.d!...~................"...
For Current Expenditures for 1a.2..st-
:~ "
}I J
BY.LAW No. J..I...~"""""
, .
j.
MUNICIPAL CORPORATION
. OF /
-1~M~
D.~,.llilll4....~==.....19P..~
L. F. JlI Rev. 30th June, 1933,
i' _,.___, -
-, ....----=~
.