BYLAW - Temporary Borrowing - 19720103 - 194472•NOTE: lns6ft am-
ount of estimated
revenues for the
current year if ad-
cpted, if not, those
of last year.
NOTE: Insert am-
ount of previous
By-law{s) passed
~~~ year.
[J
L.F.lO Rev. May 1960.
Ont.
Municipal By-law for Current
Expenditures.
67395 Printed in Canada,
Municipality of ................... !.~~---~-~---·~-~!.:.~!.:~ .................................. ; ..
. BY-LAW No •.................... l9.44.-:-:.7.2 ................................................... : ..... .
WHEREAS the Council of the Corporation deems it necessary to borrow the sum of
..... f..~.~ . .:. ... g~.I1.~~-~~-'···.'n?-.~.~-~-~~~ ... !?.~.!.!.~.::..~ ... ::-.::-.::-.::-::::::::::::::::::::-.::-::::::::::::::::::::::::::-... dollars
to meet, until the· taxes are collected, the current expenditures of the Corporation for the year;
AND WHEREAS the total amount of the estimated revenues of the Corporation as set ....
forth in the estimates adopted for the year 19 ..... 7..1-not including revenues derivable or derived
from the sal.e of assets, borrowings or issuance of debentures or from a surplus, including arrears
.l., h Oo, 9o5
of taxes, is* ....... Tw.o ... Mi.L.Lio.n, ... !J;hr.ee .. .H.u.ndr..ed ... and ... Thir.ty. ... Th.o:u.sand~ ..... .
........ f..?.-~~ .. -~-~_11.~!.: ~~ ... ~Il. ~-.. -~ -~ ~ ... ::: :::::-::::::.::::::::::::::::-.::-.::-::::::::::::::::::::::7.::-:::.::.:::::::::::::: .... dollars
AND WHEREAS the total amount heretofore authorized to be borrowed this year for
::13.;<.
the Pl!rposes mentioned in subsection (1) of Section 329 of The Municipal Act is ........................... .
. ..................... NIL ........................................................... dollars, of which the Corporation has already
borrowed a total of.. .................................... ; ... l\l;LL ............................................................ : ........... :dollars.·
1 <.
THEREFORE the Council of The Corporation of the .................. :f.QW.J:\ ................................ ..
of ...................... AY.r..Q~.Ii! ............................................. hereby enacts as follows:
1. The Head and the Treasurer are hereby authorized on behalf of the Corporation 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 ........ F.!;H\t' ... .H.trn.QX:~Il ... T.!l9.\l§.<lllfl ... ::-.-::-.-::-::-::::;::::::::::::::::-...
-:-:::-:::-:::-.-:-:.-,.-,,-,::-:::-:::-:::-:::-:::-:::-.::-::'!'.::-.... .,.,..,..,..,,,,.,.,,.,., ...... dollars to meet, until the taxes are collected, the
current expenditures of the Corporation for the year, including the amounts required for the
3-Jv
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 by
them for the moneys so borrowed with interest at a rate not exceeding ............ JL ...... per centum
per annum, which ma{be paid in advance or otherwise.
?3v
2. All sum{ borrowed from t~e 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
r/ borrowed pursuant to the authority of this By-law, as well as all other sums borrowed in this year
17 and any previous years, from the said Bank for any or all of the purposes mentioned in the said
1 ~'together with interest thereon, all of the moneys hereafter collected or received on
account or realized in respect of the taxes levied for the current year and receding years and all
of the moneys collected or received from any other source, which may I full be applied for such
purpose.
Passed this ...................... ?.r..~ ...................................... day of .......... ~ ...... f..Y. ................. 19 ... '.?.;?
CORPORATE SEAL ·························'·····················~······ ....................... :12.:··~ ... :' ········ ....... .
Clerk.
I hereby certifythat the foregoing is a true copy of By-law No./1.'1'/..":.'llof The Corpora-
tion of the .......... :::r~ .. ~-~ ..... , ... , ...... of... ............ l.!..'!. .. ~~!,f.f!. .............. 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 effect.
' Dated this .................... ~ .................................. day ~f ... ~ ................ 19.73.
As witness the Seal of
the Corporation.
CORPORATE SEAL
. ......... .A.Z.. .. · .......... .