BYLAW - Borrowing By law - 19750113 - 203875L.F. 10 Rev. May 1960•
Ont.,
·Municipal By~law for Current·
Expenditures.
67395 Printed in Canada.
Municipality of ................ ~9.~~ ....... 9.!.., ........ ~V.!:'2~ ... : ............................... .
·BY-LAW No .... , ....................... 2G3&-Y':Y···············~·······················•···············
WHEREAS the Council of the Corporation deems it necessary to borrow the sum of
' FOUR HUNDRED THOUSAND ... . • .............................................................................................................................................................. 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.'75':., not including revenues derivable or derived
from the sale of assets,borrowings or issuance of debentures or from a surplus, including arrears
~~n9 1 ~~ 1 '!~f~:t~d of t~x~s,.,is* .. ~l:U~~~ .. ~~J.Q~, ... Q.~.Ji~P.~ ... ~P. .. §~~-~ ... ~R9V.§b.NP..,, .. ~~ .. fW:~P.gED
revenues for the ·· ''··, . . .. . ,
current rear If ad·•· - . 1 _____ ,_ • _.--, EVEN 'I<*'J::, ', : -' -.
o1ot1erl1• ' not, those · : ........ !l-.11P.: :lfJ:f.TI. ;!? ............... '::::".':::-:::"::::-:::-:::::-::::-:::-::::-:::-::::-:::-::::-: :~:::::::.:-:::-::-.:-:::::::-::::::::::::::: :::::::::.::19f: d 0 11 a rs . o as year, . _ ._ .
AND WHEREAS the total amount heretofore authorized to be borrowed this Yellr for
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_y, ··~;~,~~; the purposes me~tibned ill subsection (1) of SectionJ8!19 of The Municipal Act is ........................... .
r~ p!iss_ed .
••· .,,/ ........................... ,NIL ....................................................... dollars, of which the Corporation has already
borrowed a· total of .... §l':!:[!i ...•. !!Jm.P..~ ... j;'j-j.Ql:f§.J)J'IP. ••• ::-::::-:::-::-.:-:::-.:-::-:::-.:-:::-::.:-:::::-.:-:::::.:-::::::::::-.::7::: .... dollars.
THEREFORE the Council of The Corporation of the ............... TOWN ...................................... ..
of .......... :!:~~()!l.-!': ........................................................... 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 .............. ~!!'.~ .. !!.~!?.~ ... ~.O.!!'.~~:r?. ......................................... .
------------------------------d II t t t'l th tax II t d th .................................................................................... o ars o mee , un 1 e es are co ec e ·' e
current expenditures of the Corporation for the year, including the amounts required for the
332
purposes mentioned in subsection (1) of the said Section :ai!!Ji 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
. Prevailing
them for the moneys so borrowed with interest at a rate not exceeding .... Riilt~ ........... per centum
per annum, which may be paid in advance or otherwise.
2. All sums borrowed from the, said Bank, for any or all of the purposes mentioned in the
said Section.M, shall, with interest thereon, be a charge Upon the whole of the revenues of the
Corporation 16r 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 any previous 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 year and preceding years and all
of the mor\eys collected or received from any other source, which may lawfully be applied for such
purpose •.
Clark.
I hereby certify that the for,egping is a,true copy, of By~law llfod.CI8.~;.~ofThe Corpora-
tion of the, .... , .•.. ~a.w.:!:h ........ , ...... of .... , .. ~ ........... ,., ...... .in the Province of Ontario,
duly passed at 'a me'eting of the. Council of the said. Corporation duly held, and that the said
By-law is in full Jorce and effect. . . . . · .
Dated this ................. , .. /.3,,-:tt;,.,., ......... , .. , ... ,.,day oL~ .. "'' ................ ,.... . .... ' ...... 19.Zf
As witness the Seal of
the Corporation.
CORPORATE
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