HomeMy WebLinkAboutKIN1937-1183 Borrowing sums to meet interest on Ont West Shore Electricity
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BY-f4aw No. U83.
BJ'fLaw NWIlber ElenD. Hundred aD.4 E1ghty lfhree of the ,own of
Klnoard1D.e,1D. the county of Bruoe and prarlnoe of ontario.
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lor the purpole of borrow1D.g the SUlIl of Two Thouaan4
rlTe Hundred Dol:arw($2500.00),to meet the tnterelt oa
aertaln Debenturel of the Ont.Weat Shore Eleotrla Ral1way,
guaranteed by the aald Yunlolpallty of the Town of Xlnoar41De.
......................
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WlllsWB I The Corporation of the laid !own of Itlnoar41De,
~der the authorlt7 of the br-Law dul7 palled, guaranteed
oertaln of the debenturea of the ant. Welt Shore Electric
Ranway,and la now oalle4 to pay the tntereat thereon for
whloh no proT1alon or 1e17 haa "'een made.
AND W1lEREAB1 It 11 neoeala1'1 to borrow the mon.)'therefore;
until luoh time aa the taxel for the year 1938 can be ooUeoted.
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Be lt therefor enaoted aD.4 1t 18 hereby enaoted bf the
Ibmlolpal Counoil of the Town of Kinoardine, tn oounoll
alsemb1ed;That lt shall be lawful for the KaJor and
Treaaurer of the add corporation of the 'rawn of K1noar4lne
toborrow from any Bank or perlon willing to loan the aem.,
suoh a lIUJIl or aWllI of money al Ihall. be requlred to meet the
lntereat on aaid debenture a 10 guaranteed, aD.4 whlch 1nhreat
Jaature. on the J'1rat dllJ' of JanUUJ' .l.D.1938 an4 the 11rat da1
of JulJ A..D.1938; suoh emcl1mt not to exoeed the IUIIl of Two
Thousand rlTe HuJl4red ])Ol1ua.
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The JaaJOr and 'rreallurer,on behalf of the corporation,
are herebr authorlzed to exoute BUOh prolll1aso1'1 note or notea
as maJ' be requlred for aah purpoa.,aD.4 to haTe the leal of the
corporation &1;taohed thereto; auoh note or notea to bear 1II.tereet
at the rate of per aent.
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A epeola1 rate to lIleet suoh amount and raiee the sum
1a herebt l.,.led on all the rateable propertJ' in the Idd
corporation Uable for the PllJ'lllen1othereof, whloh rate shall
be inserted in the COl1eotor'l Roll of the aald !own of
Kincardine for the fear 1938, and shall be oolleoted in the
eame ll\anD.er u other taxea, and wben eo oollected shall lie
applied in pa1lllent of the amount 10 borrowed al aforeaald.
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Palaed,I1gned an4 lealed thil ~ day of
Deoember,A..D.193'.
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U Kayar.
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. Town Clef~
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t the !CIIrJl of
of ontario.
BJtLaw HwIlber neTea JI1m4re4 IUI4 ]!:1ghty '1'bree of the fOIm ot
lt1noa1'lt1ll8,lIl the COWlt, of Dnae IUI4 Pl'OTinoe of ontario.
...................
!bouaan4
reat oa
'10 RaUway,
, of ]tlnoarAlIle.
Jor the purpo.e of lIol'l"OW~ the S1IlIl of 'lWo !houan4
'I'. BlaD4re4 Do11&n(.2500.00) ,to meet the lIltere.t oa
oertaln Debenture. of the OIlt.'e.' Shore neotrlo Railwar,
guaranteed by the .a14 UWDlolpallty of the Towa of llDIardllle.
......................
,f ltlnoar4111e,
ruaranteed
. Eleotrlo
lhereon for
WHK&ABI Tbe Corporation of the 11&14 'fOWl!. of JUnoll1"4111e,
U48l' the authority of the b,..:r.aw 4uly puae4.8Wlrantee4
oenaln of the lebelltu.. of the Ont.W.at Shore Elutria
RailftJ',1U14 II DOW aalled to pay the lIltere.t thenClll for
niah no p1'O't'111on or 1tTJ hal bell1l III&de.
AR]) wmmEABl It 1. neoe.sa17 to borrow the moneJthereforel
UIlt1l .uoh time as the taxe. for the rear 1938 oan be aolllote4.
, mone)'therefore;
Gan be 001l10t14.
UGtl4 bJ' thl
II. Gomoll
r and
of K1noar4l1l1
an the lam.,
ed to lDeet the
I nloh 1IIterelt
114 the rirat da1
,he 8WIl of '.rIfO
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De it thenfor enaote4 an4 It II hereby enaote4 b1 the
JDlnlo1P11 COUJlOll of the TOWII. of KlIloa1'lt1ne, 1Jl oOUlloll
..llCIbledIThat 1t ahall be 1&wful for the IfAJOr an4
Tnaaurer of the sald cOrpG1'8UClQ of the TOWII. of K1Ilaa1'ltllle
tobol'l"OW f1'OIIl IlD1 DenIc or pereon wl1l1llg to loa the lame,
doh 0. nm or nu ot 1IICII1C1J' ae gnU be wqulred to mee' tbe
lJIten.t on 8814 4ebeaturea eo guarantee4, eII4 niGh lIltereat
Mature. on the 'Int 4ar of JIUlUU'J' A.D,193B I1D4 the ,lnt 4a,
of .71117 A,D.193BI noh IUIlO1U1t not to noe.4 the 8WIl ot 'lWo
ftOaan4 ,ITe H1m4_ D01.1arI.
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the corporation, i
~ note or note. '
re the .e81 of the I
lei to bear 1I1tere.t I
'rho !IaJOr aM 'l'reulU'el',on behaU' of the OOl'pOftUClIl,
are henb)' authorized to oxcmte .uah prolll.ao17 note or not..
all IlIaJ' be require4 for sUlh p\U'Poa..an4 to have the .eal of the
corporaUoa atta0he4 thentol lI11cth note 01' no1le. to bear lIlterel'
at the 1'8te ot ~r oent.
114 ral.e the IWII
III the .d4
lab rate shall
ld !own of
11eated 111 the
ote4 shall be
all aforelald.
A .peobl rate to ...e' IUoh 8IIOUD.t and ralle the l111li
11 herebt lnle4 on all ll~e rateable propert:r 111 the 1Ul14
COl'pOra1l10n liable for the paJllfrnUhenot, wtaloh rate shell
'be lIl.erie4 in the Colleator' 8 Roll of the .al4 fOIm of
lt1Jloa1'4l1le for the JlU' 193B, and shall 'be ooUeoted in the
aarae III8DJltr u other 'exea, an4 when 80 ooUeClted shaU be
applle4 in >>&1lI8nt of the alIOWltl 110 bouvwed III aforela14,
day of
Pa8.o4,algD14 aDd .Ialld thl.
DeoOllber,A.D.1VZ7.
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