BYLAW - Authorize Obtaining Temporary Advances - 19490207 - 101749(::\ v
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L.F. 11 16th Dec. 1931.
0NT.
Municipal By-law for Temporary Advances
under Local Improvement Act.
22923 Printed in Canada
BY-LAW No./.4/.Z ...
r~ :A av:...i..Aw a~thorizing the obtaining of temporary advances to meet the cost of certain
'l works Ul)dertaken as a local improvement pending the completion thereof.
WHEREAS the Municipal Council of the Corporation of the Town of
Aurora:· has passed Construction By-law number 1006, copy of which
is annexed h!lreto,-aUthoriZi-ng the cOnsti-uction of the works described in it as a local improvement under the .. ; --;
~roV-~~!-'?nS of/.h~}.:o~a.l f~p-roVem.e:ni Ad, the estimated cost of which works is $14; 900. 00
ANP WHEREAS it is desirable to agree with a bank for temporary advances to meet the cost of th~ said
works pendjng the completion thereof.
BE IT THEREFORE ENACTED by the said Council as follows:
··1.·" The Head and Treasurer of the Corporation are hereby authorized to obtain from the Bank of Montreal . . .
t8rrij:)Oiiiiy"advariceS at a rife or rates not exceeding 4 per cent per annum represented by a promissory
note or promissory notes or by way of overdraft or otherwise not exceeding Fourteen thousand
nine hundred dollars to meet the cost of the said works pending the completion thereof.
• • •• --_-.:;;:-• '<•_ •
' -2.: · A promiSSory note a·r-.notes or other vouchers, sealed with the Corporate Seal and signed on behalf of the
Corporation by the Head and Treasurer thereof, for the advances from time to time obtained under the authority
hereof and interest thereon, may be given to the said Bank providing for the repayment of or representing the said
advances with interest thereon as aforesaid.
3. The Tre_asurer -Of the··corp·oration is hereby authorized and directed to apply first in payment of such
adVances with interest thereon as aforesaid all moneys borrowed on the credit of the Corporation to repay such
advances a,nd to.-defray the cost of the said works and all moneys from other sources prop_erly applicable to the cost ' .
of' the said works.
_Passed by the said Council this
(Mayor or Reeve as the case
may be.)
7th
-.
day of 19 49.
1 certify ihat ~he'fo-Yeg~ing is.a.true:capy of a By-law passed by the Council of the Municipal Corporation of Feb. LJ-9
the Town of . Aurora .. . on the 7tl!XJa: day of libgdt. 19 iti
and that the paper-writing hereto annexed is a true copy of Construction By-law·.Number 1006
passed by the said Council on the 7th day of Sept.