HomeMy WebLinkAboutKIN 40-1221 borrowing by-law
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2. All sums borrowed from tho aald Bank, for any or all of tho purposes mentlonod In the
said Soctlon 339, ahall, with Interest thareon, be a chargo upon the wholo of tho revonusa of the
Corporation for tho current year and for all preceding years, as and whon such revenuos are
recelvod.
3. Tho Treasurer Is horeby authorlzod and directed to opply In payment of all sums
borrowed pUl1luant to tho authority of this By-law, as woll as all othor sums borrowod In this year
and any previous years, from tho said Bank for any or all of the purposes montlonod In the said
Section 339, togothor with Interest thoreon, all of tho mono)'ll hereafter collocted or recelvod on
account or reallzod In respect of tho taxos lovlod for tho current year and preceding years and all
of tho monoys collocted or received from any othor source, which may lawfully be appllod for such
purpose.
Passed thls..,.,....5tla.0D4...... ....,...............................day of.........J.rJII.J7.......................19..~O
~~--1.~.4'/-4~
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........................ 't.'... C\orll.
CORPORATE
SEAL
I hereby certify that tho foregoing I, a truo copy of By-law No....1221..... of tho Corpora-
# v4 ~~1I I tho Province of Ontario, duly passed at a
tlon of......'1',Qi!RQ...O,^'.._~O,Q, 'Id Co...........tI..~....d~ly held and that tho said By-law Is In full
meetlna of tho Council of tho aa rpora n ,
force and offect.
S Q1Ld day of ~1l\!l.!l,a,....,..................19:ff9....
d hi - ,........., .
Dato t a................. ..........,..,................
AawitnoaatheSealof t1/./~
the Corporation. ./2.t I {IV ...... ......................,
. L
CORPORATE
SEAL
8ocI.33llol
0hapI0r 2M. llS.o.
1837,
Cum_I
borrowl"",
M THE MUNICIPAL ACT R.S.O. 1937.
EXTRACTS FRO I 01 the by-ll" for Impollng tho rallil for the
(1) A oouncll mlY by by-IIW .Ither befo~~~~:- Io~me by WIY of promissOry noli auch lumallon..
Ize the hold Ind \rIaIUllr \0 ....'v_ ted the nont ..plndllu... of the corpora
cur..nt year author 10 meet. until the _ III collie, CUll trilling due within tho year upon
tho council may delm =nll required for.lnklng fund, prloclpalandand ~n "'y board commlallOll or body Ind
for tho year, Including U~ 1"'- lpeelal rallil purpc.-. or In .
debl of lho corporaUon. schoO purr-' red b II" 10 provide.
:~~r purpoool for which lho corporallon II requl Y ror lhe purpoool menlionod In IUbaOCUon 1 aha1lnot,
(2) Tho amount which m.y bllbo:~rd~no::::Wf\IY plr cenlum of the Iotal lmounl of tho ..Umaled
.,ce t with tho approval 01 the Munlc pi ..\lmalll adopted for lho year.
relll~uII or the eorporaUOII os ..I forth In the . n borrowing preaerlbod by lublaCUOn 2. Ihall 111m-
(3) Untlllueh ..Um.1eI are a~:to~~~~~~;::..~~rIUOII as lit rorlh In the ..\lmallil.doptod for the
orlrlly be calculalld upon the ..Um
~..t precodlng yelr, d 3 limited re..nuoall18l1nollocludo ....nuoa. dorlvable or derived
f tJIICllol1l2.n ..
(4) For tho purP'*' ~ 'u nd Iso'" 01 doblntu....
from Irrel" of I..... borrow nga I
Limit upon
borrowlngl
T.mpor.ry
'fPllclUOR
o ..Um..
of ,,_din;
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EJ.olu1lon
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