BYLAW - Temporary Borrowing - 19730109 - 198373•NOTE: Insert am·
ount of estimated
revenues for the
current year if ad-
c.pted, If not, those
of last year.
L.F.10 Rev. May 1960.
Ont.
Municipal By-law for Current
Expenditures.
67395 Printed in Canada,
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Municipality of .........•................ !~~~~ .. P.~.--.~~~?.~!.1: .......................... ; ..
BY-LAW. No •.................... !.~.~:?.:::?.~ .......................................................... .
WHEREAS the Council of the Corporation deems it necessary to borrow the sum of
.......... F.9.1U' .... U.».mtr..l'l.c,hT.!:\9.Y..!'!.~.~-g ...... !?.QJ.J~.~---::::::::-.::-.:::::::.::::::::::::::::-.::-.:-::::.:-::::::: ... 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
foHh in the estimates adopted for the year 19.7.~., not including revenues derivable or derived
from the sale of assets, borrowings or issuance of debentures or from a surplus, including arrears
. • Two Million, Six Hundred thousand, Nine Hundred of taxes, IS .•••••••.... • ...••••••.••..•••..••.....••••••••••.•••••••••.•••••••••••••....•••••..••••••••••.••....••.•....•...•..•..•...••....•.•••••.•..••...••••
and three dollars---------------------,.-----............................................................................................................................................................ dollars
AND WHEREAS the total amount heretofore authorized to be borrowed this-year for
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~u~TE',i"'~~~,~~; the purposes mentioned in subsection (1) of SectionJ8ll9cof The Municipal Act is .......................... .
By-law(s) passed
tliis year. . ........................... NI~ ..................................................... dollars, of which the Corporation has already
borrowed a total of ............................... ~.l~ ..................................................................................... dollars.
THEREFORE the Council of The Corporation of the ................ :t'P.~~-~-····································
of .................... ~.~QR:A.. .............................................. 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
t d. · th t F.nur. Jlnn•d .. "'" T.hnusand ------------sums no excee mg m e aggrega e ....... M ••• ....~ •··""'··· ····"··················································· ...
... :.:::::.:-:::::::::::::::.:.:.:.::::::::::::-.: ...... dollars to meet, until the taxes are collected, the
current expenditures of the Corporation for the year, including the amounts required for the
332
purposes mentioned in subsection (1) of the said Section ~nd 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 ......... ~ ............. per centum
per annum, which may be paid in advance or otherwise.
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2. AU4wns borrowed from the said Bank, for a~y or all of the purposes mentioned in the ,
said Sectio~ 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
borrowed pursuant to the authority of this By-law, as well as all other sums borrowed in this year
and an~IJ2Vious years, from the said Bank for any or all of the purposes mentioned in the said
Section~ 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 ye~nd preceding years and all
of the moneys collected o·r received from any other source, which 1Jil'11l0awfully be applied for such
purpose.
Passed this ...................... 8tb ..... ,.,.,,..,..,,,.,. ..... ,,,. ....... day
CORPORATE SEAL
Clwk.
I hereby certify that the foregoing is a true copy of By-law No../r.I..J:lJ.of /he Corpora-
tion of the ......... ,:-:::::fpf::!!..tY. ........ ,. ... ,.oL ..... ,. .. ,..!f.(/.!fp!J.f.t. ...... ,..,.,. ... 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 .. ;.,. ..... ;,.,,.,,,,,..,. .... , ... co/ft .. ,,. ... J •••••••• day of .... ,..,.h·····,.··,.,.19]![
As witness the Seal of
the Corporation.
CORPORATE SEAL
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