HomeMy WebLinkAboutKIN1936-1166 Borrowing of Sums
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BY-Law Nnmber EIOYCR Ilundrect and Slxt, ot the Town ot
K1naar41ne, ln tho Oount1 of Bruoe ~ F "inoe ot Ontario.
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Jor the plU'p08e of borrow~ the aum ot Two ThOl1l10n4
Pive RUD4re4 Dollar. (02800,00), to meot the Intereat on
oertaln Debenture. ot tbe West Shore Xleotr1o Jla1lwaf,
gunrontee4 by aa14 Kunlo1pellt, of the fown of Kinoardlne.
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Pasted, 8igned and sealed
Dooember, A.D. 19~a.
mmllKASI the Oorporation ot the 8814 Town at K1Mord1ne,
Miler the authOr1tf ot the by-law dul:y pa8se4, gueranteect
oe~a1D of debenture. ot !he Ontono West Shore Xlootr10
RB11wo" and Is now ~o11e4 to pay the lntereot thereon tor
whloh no proTlslon or lov:y has be~n Jlade. , .
MID \',1IEWa I It 18 neoeaaa17 to borrow the IDOnol'
theNtore. ,untll suoh t1.nle. 88 the taxe8 tOl' the year
lDa7 Od b,. ooUeated. ,_
Be It thereto1"t onaoted lU14 It 18 he!'$b, enaate4
by the llUn1a1pal Counoil ot the Town of Kinoardlne, in
0011/1011 8SlJeslIlomblodl !ha' 1't 8beU be lawful tor the
Jlnyor and !rI'OUUI'8l' ot tho '1l1d Corporation ot t,he :!rawn
ot{1noa~1Dll! to borrow f1'Olll aJl1 Bank or pe1'8on"l~lJl1
. to t" loan ..tlle some, ol1ob 11 oum 01' OWD8 of IlIOne,. ~o-sball
be reqlllred to meet the interest c1l1e on 0814 4ebenture.
10 !nlaronteod ( and Whloh lntere.t mature. on the P11'11i
4BJ' ot JonuaJ:7 A.D. 193' an4 the Firat 401 ot .Tul:r :A.D.
1937)I~oua~ amount not to exoead the arum ot ~O Tho~'un4
Phs Hl1J1dred Dollan. . __
!'hI Ma;vol' ~ frealllrer, on bClhtll1' of TbeCor-
POf3tlon, are hereby al1thorlzed to nooute ouoh P1oo1ll1l-
801'1 noto or note. U /!laY' be required for 8110h purposo.
aDd to hUTe the Beal at the Oorporatlon attaoh04 thereto;
snoh note or notos to bear Interest at the rot. O!LlJ/~
per (lent. 7 I r
.!8paola1 rate to me~t 8uoh bmount and rol.e the sum
10 hereb1 le"led on all the rateabl~ P~~ortf In the n~ld
Oorporat1oll liable for the pallDent thoreof, whloh rote
shell bo Inserted 111 the COlleotor" Roll of the lIa14 ,
Town ot ]Clnoardine for the year 1937, 8114 shall be 001";
lMte4 in the some canner as other taxOll, aM when 80 . .
oollooted 8hall be applied In payment ot the amount 10
borrowed tUI 8to1'Os01d. :.'"
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