BYLAW - Obtaining Temporary Advances - 19530908 - 116853_._,. _________ ~----·--···-····~--------·~·-··---.. ~--------·-·--·-·-----· ----~----~\
'"''-'","(ki<">'i: >
i ..
(;:\
\::_)
L.F. U Dec. 1931
0NT.
Municipal By~Law fa·r Temporary Advances
under Local Improvement Act.
40084 Printed In Canada
BY-LAW No ...... ../f...?.J ....... .
A BY-LAW authorizing the obtaining of temporary advances to meet the cost of certain
works ooxbn<tOO*ll\!XllO!XOCI~IIIIlt pending the completion thereof.
WHEREAS the Municipal Council of the Corporation of the Town of
Aurora has passed ~ By-law Number 1166 ,
copy of which is annexed hereto, authorizing the construction of the works described in it::ax::ax
P!i~::l:il'l~~lCRoo:tm::itlxlKflllOWXI!itl'.SlCo:!'xll:llll:Jtmll'lltJttllliOOlCOOl!OO.t:~, the estimated cost of
which works is$ 7000 • 00
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 temporary advances at a rate or rates not exceeding ~ per cent per
annum represented by a promissory note or promissory notes or by way of overdraft or otherwise
not exceeding seven :tlltbdt thousand - - - - - - - - - - - - - - -
- - - - -dollars to meet the cost of the said works pending the completion thereof.
2. A promissory note or 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 Treasurer of the Corporation 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 and to defray the cost Of the said works and all moneys
from other sources properly applicable-to the cost of the said works.
Passed by the said Council this
-(Mayor or Reeve as the case
may be.)
21st dayof Septembm'.5 .
:::::::::::::::~~:.::.:·::.:
Clark.
I certify that the foregoing is a true copy of a By-law passed by the Council of the Municipal
Corporation of the Town of Aurora on the 21st day
of Sept 19.53 and that the paper-writing hereto annexed is a true copy of~
1166 passed by the said Council
on the 8th day of Sept 19 .5 J.
································································ci~~k·····