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Home My WebLink AboutKIN 41-1338 Borrowing By-law . "Fl,,;,.,'I!( .' ."' 11 _ 1 . ~ ---', " ... I L" :i 280/331 .. L!iz")j!);lrn--:!w/ ------- - ._-~--- . -------.. -----.~.-----_._-.--.~--_.- .--- .<11: po #.?J;t7# "-<. . ,""",."'t- __n__1~ ,..~ . ~ ~..~. .~-, " d" _ ~ ~- L I I . - Ii P '.\ ! I I : L.ol " ::l- " " ---.;... - ,I ii I .' _. _____n" l' \ t ,'7 LF.llI Rev. March, 1938, Onto Municipal By-law lor Current Expendllurea. &4301 ""nlodlne_a. vii ~'1 , -- 1 \~ :.~ /; 1 -, -:-1 ; :..l:- }~_.. ~. . ~ Municipality of........IOWll",Ql,.lUl,(CAl1IllJiE.............""" BY-LAW No.............,....lZ3e........................",......................,... A BY-LAW to authorize the borrowing of $..a5,..aaOA.O.a......."..................................., WHEREAS the Council of the Corporation deems It necessary to borrow the sum of !',!H1'.::.f.t!,!:....!.h.C?,M~,~.n!:l:::',::'.::,::.:::::::',::'.::'.:::~.:::::'.::,::::::::::',::".::.::'.~,':::::::'.::',::'.":.::'.::".::',":.;gjlOllbllara to meet, until the taxes are collected, the current expenditures of the Corporation for the year; AND WHEREAS the total amount of the estimated revenues of the Corporation as eet forth In the estimates adopted for the year 19iQ..., not Including revenues derivable or derived :?T~: I::.\:.:d from arrears of taxes, borrowings and Issues of debentures is ....!1gh~.".th1:ee....TI:1Qu.sand I ..~ 'or thI :;SIIW::'~ WIlI~ !!.C?...~~.~!.~~....~~..,~~;,~.~.~y.::.!-:J~!.7.:7.::'.:::::,:::::.::::::::::::,:,:::::::::::,,:::::,::::::::1.;:.b..Q.P..dollara. AND WHEREAS the total smount heretofnre authorized to be borrowed this year for ~lE;"I~~ the purposes mentioned in subsection (1) of Section 339 of The Municipal Act Is............................ :.tLlW~) .- _. ............~'.~H~.::.H~.!:... !.h.C?~~,~,~!:I:::'.::.::.::::::::::,::.....dollara, of which the Corporation has already borrowed a total of...............::~::':.~~:.~.':':.~~.~.~.~...Mu......':':~~~.~.~.~.~:':".~.~.~~~......................dollaraf THEREFORE the Council of the Corporation of the....".........to.lIn................................. of .............~!.~.~.~~.~~.~.~...........................................hereby enacta as follows: 1. The Head and the Treasurer are hereby authorized on behalf of the Corporation to ; borrow from time to time, by way of promissory note, from the Bank of Montreal, a sum or sums not exceeding in the agaregate...~.":.:::::'.::.::,::::'.::'.::'.::.::.'~~:::::'.::,:::::.~"..".."..,........"'............................ ~~,f.~.Y..:::f.;.!.~....Th!?1,!.~~.~..!..!.~.~.~..!..!...dollars to meet, until the taxes are collected, the '\ current expenditures of the Corporation for the year, including the amounts required for the purposes mentioned in subsection (1) of the said Section 339, and to give, on behalf of the Co... 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 not exceeding.....<li...........per centum per annum, which may be paid In sdvance or otherwise. , - . . r~ r f ~ -.:0 , ,,-- , . ""~ --..:.i:~ . I, ' -ri: - i r \\ '" . ...... " \ - . ~" 1 -- _..~ . . \ \ , "-. . -1~ ----~~ .. . ,&",//;/c,,---:1wl $5;~ !:. .....,.....- _.__...__....... .__.._____..u. _ _ _,,_", ~._--_._.~._------_...- , ~.~:: j ~ , iI :1 .. I' II . _c~-::.'" 1'\"1'7'1""1"-\=~~ _. h --....- --.---. - j ~.,- I I / , - .-.,-~ ',r , 1 I~ , \ I, ,/ ., \ , . I -- j- '-, , I ! 1 t" . i:-~,.. I I I , -! , , ~ ~ ~ ----_._..~_. f i ~.., ~ ! i: ( ;-." ;f5;~ !:. .....,.....- : II :1 . _c~-:I.'" 1'\"1'7'1""1"-\=~r: .._____. h --... -- --.'--. " - ---.------- . I / 2. AITIlums borrowed from the said Bank, for any or all of tho purposes mentioned In the said Section 339, shall, with Interest thereon, be a charge upon the whole of tho revenuaa of the Corporation for the current year end for all preceding years, as and when such revenues are received. 3. Tho Treasurer Ie 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 sums borrowed In this year and any previous years, from the said Bank for any or all of the purpoeel mentioned In the said Section 339, together with Intereet thereon, all of the moneys hereafter collected or received on account or realized In raapect of the taxaalevled for the current year and preceding years and all of the moneys collected or received from any othersource, which may lawfully be applied for such purpose. Paesed thlS.,.""""~"......"..".."...,......,,,daYOf....,, ~.~........19.." , t{'''''''''J; . 4J. .. Hfld/u;(~""'" "......"....\..:..,."..~~...".."C,;;;k:.. I hereby certify that the foregoing Is a true copy of By-law Nol~~J..." of the Corpora- tion or..~,d..,L.~""....In the province of Ontario, duly paesed at a meeting of the C;;g~~1 of the said Corporation duly held, and that the said By-law Ie In full force and effect. ~ Dated thle,,,.,,....,,,,....,,..,.,,..,,,,,,,......,,,,,,,..,,,,,,,,..day Of'1~....."..""..19.!:f..!. CORPORATE lEAL AA wi tnB88 the Seal of the Corporation. """""."." .q@!&~."..". ~..f..I...: "r CIIfk. CORPORATE SEAL 1.,U3hl ChaoI..llI6, R-s.o. lute Cumn' bonowlngt. EXTRACTS FROM THE MUNICIPAL ACT R's,O. 1937. (1) A council may by by.law either before or altar \he palIIlno of \he by-law for Impoelng the ratoe lor \he curnmt year authorlzothe head and treaturer to bOrrow from lime to lime by way 01 promlatOry nota euch aume u the council may deem neceasary to meet. unll1 \he taxee are collectlld. \he cunant e.pendlturee 01 \he corporation lor the year. Including the amounts required foralnklng fund, prlnelpal and Intereetlalllno due withIn \he year upon any debt 01 the corporation, f(:hoOl purpoell8. .peclal ratoe pu~. and lor any bOard. commlaalon or body and other purpo86llor which the corporallon II required by law to provide. (2) The amount which may be bOrrowed In any year lor the pUlP'*" mentioned In au,-tlon 1 .hallnol, e.cept with the approval 01 the Municipal Board, exceed 16",nty per centum 01 the toW amount of the eatlmatlld re",nuea of the corporation u oetlorlh In the salimatoe adopted lor \he year. (3) Unlll.uch eatlmatas aJll adoptsd, \he limitation upon bOrrowing preacrlbed by au,-tlon 2. .hallts.... porarllY be calculated upon the satlmatad re",nusa 01 the corporation as aetlorth In the eaUmatas adopted lor the nOlt precedlno year, (4) For the pur~ ohu,-tlons 2 and 3saUmatsd revenuee .hall not include reven""", derivable or derl",d lrom arrea.. oltUllB. bOrrowinQI and I..""" of debsntu.... Limit upon bOl'ro'lllllngl temporary "rpllutlon a _tim_tel 01 prtlc.dlng ".. E.tlualon fl'tlm _tlm.lId flv.nlllllo , I ! t , I : I I i , -! i '-. .:-~,.. \ r . '--'; , '.. .r -", r!f: H' 280: / , .'.~"'/' )1 1339 ~ I ., . ! .. . , '-1;-- ----.-....-- - '&"'I/J/~l ----...-- -.,.--.----.-. ...-....- #.1J;~~ ~___ __n__~__"" II \ \,J . ;1 ,- ~!;.\ ' II- I I I , -1' ~1-l...~.....~.~1 1.' _ ~_, .__. _ _.... Mo-- i I Ii I I I: Hl' t. .' ! ._~._-- , ~.-4 , . ;'1 " I " , \ ., '~ , ~.... -, , I BANKOF MONTREAL ...,.._..,....".........JCINO"1i.1tDINE".....""""."."....,...".BnulOh BY. LAW Authorizing the Borrowing of $"...........1itl.;OO{t.{')Il'........................ For Current Expenditures for 19.....111;1 BY.LAW No.........I33S.................... MUNICIPAL CORPORATION OF .1 TOWN or KINCARDnm , ! Dated ..................;1.eJI11!l'1"1"."..€l'ii........".-....."......19."".41 a.. ..10 Rev. Man:h, 1938. i , , 'I b '" " ~=--,--...->-'- ",' , ,: ;._~ , -1:.',1- .- l: -!l \\ ., , i '1 , ~1 i I 'j J '1 I I ., , i I ! i I ; '! Ii ~, I I ~i .i , ,