BYLAW - Authorize the Obtaining of Temporary Advances - 19490502 - 103049""--·
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L.F. 11 16th Dec. 1931.
ONT.
Municipal By-Law for Temporary Advances
under Local Improvement Act.
22923 Printed in Canada
BY-LAW No ..... ./.c?..~.Q.
~A BY-LAW authorizing the obtaining of temporary advances to meet the cost of certain
works undertaken 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 1024 , copy of which
is-a~nexed hereto, authorizing the construction of the works described h1 it as a local improvement under the
provisions of the Local Improvement Act, the estimated cost of which works is$ 2,160 0 20
AND WHEREAS it is desirable to agree with a bank for temporary advances to meet the cost of the said
works: pending 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
teinporary advances af a-rate or rates not exceeding 4 per cent per annum represented by_~ promissory~
note or promissory notes or by way of overdraft or otherwise not exceeding Twenty-one hundred 1\.J
& sixty 20/100 dollars to meet the cost of the said works pending the completion thereof.
:-:;;" 2. A promissory note or not6s or other vouchers, se~led 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 sai<!_
advances with interest thereon as aforesaid.
3. The-Treasurer of the Corporation is hereby authorized and directed to apply first in paym~;~nt of such
--advances with interest thereon as aforesaid all moneys borrowed on the credit of the Corporation to repay such
':dvan~es and to defray the cost of the said works and all moneys from other sources properly applicabl ttrt,cost
of the said works. ,/,,
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Passed by the said Council this 12th day of Sept • )9 49.-
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(Mayor or Reeve as the case
may be.)
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I certify that the foregoing is a true copy of a By-Jaw passed by the Council of the Municipal Corporation of
Town of Aurora
the 12th of Sept. on the day of 1949
and that the paper-writing hereto annexed is a true copy of Construction By-Jaw Number 1024
19 49 passed by the said Council on the 2nd day of May
...... <. .......... 0.£S%8 .. , .. .,r
Clerk.
The estimated oost of this work is $2160.20 instead of $1256.00
as set put in By-Law 1029. This By-law is made to raise the
.adittional amount and replace By-law # 1029