BYLAW - Authorize Loan to Build Tannery to manufacture Leather - 19120104 - 34312z-
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BY- LAW NO„ .. ".-610..4. .
BEING A BY.LAyu TO AUTHORIZE THE LOAN OF(y0I01000) TEN'
THOUSAND DOLLARS TO uBALTER COLLIS, FORMERLY OF THE TO'.M
OF 10VMARKET BUT NOW OF THE CITY OF ROOHESTER21K THE
STATE OF NEW YORKJIFOR THE PURPOSE OF PURCHASING A SITE
AND ERECTING THEREON A BUILDING FOR A TANNERY I17THE
TOWN OF AURORA TO MANUFACTURE,LEATHER.#
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AREAS the said Walter Collis bas applied to the
Municipal Corporation of the Town of Aurora,, amongst other things®
for a loan of MO'000) Ten thousand dollars upon the security,
of a mortgage on the landmachinery and plant to be hereafter
purchased and erected in the said Town of Aurora, for the purpose
of dialing the said Walter Collis or a Company which the said
party proposes to have incorporatat'�Q/`�' under theLawsof 0 tario''
,,��,,,�,/
as set out in d Agreement,to purchase a site, eat thereon a
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building and instal therein machinery and plant for the manufact—
ure and sale of leathern
AND 7HEREAS the said Agreement contains a clause that
the same is to be superseded imned.iately after the incorporation
of the proposed company by an agreement between the Municipal
Corporation of the Town of Aurora and the proposed Company'�when
incorporated'to the effect of the said agreement
AND WHEREAS the said Municipal Council of the Town of
Aurora has deemed it expedient and in the interests of the rate—
payers of the said Town to loan the said sum of ($10,a000) Ten
thousand dollars to the said Walter Collis for the purposes
aforesaid#
AND 77HEREAS the said Walterm Collis has agreed to repay
the said loan when it matures and alsotopay the interest there"
on each year when the same falls due*
AND 17HEREAS it will be necessary for the purpose of
raising the said loan to issue Debentures of the Said Municipal
Corporation for the said sum of ($I01000) Ten thousand dollars
,i
payable in five years from the date hereinafter mentioned for
this Bylaw to come into foree,with interest payable at the rate
of five percent per annum as hereinafter set outs
AND 101HEREAS the amount of the whole rateable property of
the Municipal. Corporation of the Town of Aurora,according to
the last assessment roll is (0535230*00) Five hundred and thirty
five thousand,Two hundred and thirty dollars.
AND IMREAS the amount of the existing Debenture debt
of the said Municipal Corporation of the Town of Aurora is
(035,436*64) Thirty five thousand four hundred and thirty-
six* ...... 64 dollars* of which no part either of principal or
interest is in arrear,
TIEREFORE the Municipal Council of the Corporation of
c the Town of Aurora enacts as follows;"
I. That a Than of Ten thousand dollars ($10,000) is hereby
granted to Falter Collis,formerly of the Town of New-
market but now of the City of Rochester in the State of New York
for the purposes aforesaid, and that it shall be lawful for
the Corporation of the Town of Aurora to issue Debentures of the
1� said Municipality for the said amount the same to be issued in
py, sums not less than One hundred dollars ($100*00) each" payable
on the expiration of the five years from the date of this Bylaw
taking effects
2, That the Mayor of the said Municipal Corporation be and
he is hereby authorized and instructed t6 sign and
issue the said Debentures (which shall be marked and known as
the " Tannery Debentures") and the interest coupons (if any)
attached-theretoand:- ttu cause the same also to be signed by
the Treasurer of the said. Municipality*
3, That the said Debentures shall be in sums of not
less than One hundred dollars (0100,00) each and the
Clerk .of the said Municipality tls hereby authorized and instruct-
I Wit ed to attz.ch the Corporate seal of the said Municipality to the
.3.
said Deb6nture which shall be payable within five years from the
date hereinafter mentioned for the Bylaw to come into effect,
That the said Debentures shall bear interest at the rate of five
percent,per annum , the first payment of interest to be made on
the first day. of August A,D.I9II and annually thereafter on the
first day of August in each and every year except the last year
when the interest is to be paid on the first day of March
Nineteen hundred and sixteeno
4* During the currency of the said Debentures ,there shall
be raised annually by s]reoial rate do all.the rateable
property in the said Town of Aurora, the sum of Five hundred
dollars ($500,00) for.peyment of interest on the said Debentures
50 During the year Nineteen hundred and sixteen, there
shall be raised by special rate on all the rateable
property in the said Town of Aurora the sum of 'Ten thousand
doll*rs (,0I0,000) for payment of the said Debentures, in the
% event of the said Walter Collis or the Company to be hereinafter
incorporated, faili or_ nexle of ins" +n
the same day, to take the votes of the qualified voters of the
said Municipality on the said By-law* The places for taking
the said votes and the Deputy Returnnng Officers of the several
Wards of the said Town shall respectively be as follows;
North Ward, Polling place ----Nelsons Blacksmith Shop,
Deputy Returning Officer -• ----- Yonge - Streetq
---------
Centre Ward,polling place-- -Council Chamber*,
Deputy. Returning officers =•cln--------------
South Turd polling place -----
/Tiillon�sShop,Yonge street
Deputy .Returning of£icerM=' ==� ----
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On day of Decem er 1910 t the hour of eight
o'clock in the evening at the y er of the said Town/
the Mayor shall appoint in writing the persons to attend at
the Polling places and at the final summing up of the votes on
(/ behalf of the persons intere-sted in and promoting or opposing
respedtively, the passing of this By0lawo
That the Clerk of the said Municipality shall attend at
Ilk. the Council Chamber in the said Town at Twelve o'clock noon
on wednesday,tbe Fourth day of January I91I to sum up the votes
given for and against the By-law*
A,