HomeMy WebLinkAboutKIN 80 4256 Borrow-Bnk/Montreal
L.F.1D Rev. May 1960.
om.
Municipal By-law for Current
Expenditures.
67395 PrInted ill Canada.
Municipality of..........:rºý.m...ºE...~J.N.ºA..~!?~.~!?....................... ............
BY-LAW No......................~.?~.~..................................................................
WHEREAS the Council of the Corporation deems it necessary to borrow the Su(t1 of
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------------- Five Hundred Thousand -------------- .' . .
..............................................................................................................................................................dol~~.
to meet, until the taxes are collected, the current expenditures of the Corporation for the yeat'; :: c::: ';
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'AND WHEREAS the total amount of the estimated revenues of the Corporation ass~i'¿::,' ¡
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forth in the estimates adopted for the year 19.7.9.... not including revenues derivabltl or d\Jflvè~---
from the sale of assets. borrowings or issuance of debentures or from a surplus, including arrears .
~T~ ''::''...-:; of taxes. is·....r.!:l9...m.nJ,,;1,gA.,....fg.1,!£...Þ.:~.è.':!'?~..§:...y.~D.~y.:::fg.1,!£...y.bg~.~9:!?:9:L....
revenues for the
;s'~::?- "t~ .........................f..9.)¥..'...h~.2-:r.~ª...?:nª...tJ.y.'?...........::-.::-:::::::::::.::.::::::::::.::.::.::.....................dollars
AND WHEREAS the total amount heretofore authorized to be botrowed this year for
~E'.f'n~",,'.:::; the purposes mentioned)n subsection (1) of Section 329 of The Municipal Act is............................
Øy-Iaw(I) pused '(-" _
...-. . Nil . '.
..........................................................................................dollars. of which the Corporation has alrèãðý;.-
borrowed a total of.............!:J:~.~.......................................................................................................dollars. 'c :::. '.
THEREFORE the Council of The Corporation of the...........1.'9.:(&..............;;........................... ." 7::: ¿
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of.,....................~t.~9AItJ?;ç.~..................................hereby enacts as follows: '" -;:.:~-
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1. The Head and the Treasurer are hereby authorized on behalf of the CorporatJòn to
borrow from time to time, by way of promissory note. from the Bank of Montreal. a sum or
sumS not exceeding in the aggregate..........E1y.!!....I;!!M!:9:!..I?.ª...:r.bg!:!-.~9:I1.:!-.....................................
....................................................................................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 329, and to give. on behalf of the Cor·
poration, to the Bank a promissory note or notes. sealed with the corporate seal and signed b)
them for the moneys so borrowed with interest at a rate not exceeding.......}:2............per centum
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per annum. which may be paid in advance or otherwløe.
2. All sUms borrowed from the said Bank, for any or all of the purposes mentioned in the
said Section 329, shall, with interest thereon, be a charge upon the whole of the revenues of the
Corporation for the current year and for 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 sums borrowed in this year
and any previous years, from the said Bank for any or all of the purposes mentioned in the said
Section 329, together with interest thereon, all of the moneys hereafter c.ollected 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
purpose.
'.:;- " è'-' passeq thiS................~!:\~.~.............................µ........day f ;);~;.ry........~~~~~.Q...
~'~ - CORPORATE ~ .... ......... .L:~.............................
- - SEAL (Thll Head Of the Corporation.)
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...........=~~~ëï;,;¡;:..
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-c..::-~::~--.I:her~by ~ertjfy that the foregoing is a true copy of By-Jaw No.......!t.?.~.~...of The Corpora-
ti~~ ~¡ tî,e..........T.~~...........................Of...........~~.~~.~~~.~.~...............in the Province of Ontario,
duly passed at a meeting of the Council of the said Corporation duly held, and that the said
By-law is in full force and .affect.
. fourth January 80
Dated this.......... ................. ...................... ......... ..........day of................. ....... .............. ....... ....19. ........
As witness the Seal of
the Corporation.
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SEAL
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