BYLAW - Borrowing By law - 19790102 - 223779L.l'.10 Rev. May. 1960,,
.Ont.
Municipal By-law. for-Cunent ;
Expenditures.
67395 Printed in Canada.
1; . '.; · ;,. '·.· ' ' TOWR OF AURORA. ' ' J\llllnl~lpalily of ............................................. ,, ............................................... .
.. ' '-,-,•
BY~LAW No, ...................... 2a37::-.7.9 ........................................................... .
WHEREAS the Council of the Corporation deems it necessary to borrow the sum of
to meet, until the taxes are. collected, the current expenditures of the Corporation fodhe year;
·AND WHEREAS the total amount of the estimated revenues of the Corporation as set
forth in the estimat~sadopte'd for the year 19 .. 7.?.., n'ot including revenues derivabie or:deriveii
from the sale of assets, borrowings or issuande of debentures or from a surplus, including arrears
:~,7r~i ~~~1[~;,~.; of taxes, is* ............. !?J~ .. !:PJ~;l;9.~., ... ~~ ... illmP.~.~ .... ~~P ................................. : ............................ ..
revenues for the gf~i~~~~~~t. ~~h~~; ... : .............................. N~~-~ .. 't~Q¥.9.~.l?.i .. !.W~Y~ .. ~.~::~:::::::::::::.::::::-.:::::.::·::::-.::::::::: .. · ... dollars
AND WHEREAS the total amount heretofore authorized to be borrowed th.is year fgr
332
~u~[E',.'"'~~.~~; the purposes mentioned in subsection (1) of Section 329cof The Municipal Act is ........... ..l'l'.lL ....... .
By-law(s) passed
this year.
.. ........................................................................................ dollars, of which the Corporation has already
borrowed a total of ..................... ~Ik ............................................................................................... dollars.
THEREFORE the Council of The Corporation of the ......................... ~~~ ........................... ..
of ................... ~.U.R.~~ ................................................... 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 ............... g~.~ .. !:1:~~~9~ .............................................................. ..
.................................................................................... 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 Sectionllti, 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 .. ..:l~a:tc. ........... per centum
per annum, which may be paid in advance or otherwise.
2. All sums borrowed from th~ 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
borrowed pursuant to the authority of this By-law, as well as all other sums borrowed in this year
and any previous years, frop1;t~~·saiq Bij.nk,for any or ,al,l9fth~ P\\r~oses mentioned in the said
Section 329, 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 moneys collected or received from any other source, which may lawfully be applied for such
purpose.
Lhereby certify tllat the foregoi~g is a true copy of By-law No.??.3.7.::7.9.,,of The Corpor;t-
tion of the .......... , .... ,--'l'OWN ...... , .. ,,, ........ Of,,.,, .. ,,,.AURQRA .. ,,, .. , ........... in the Province .of .Ontario,
duly passed at a meeting or'th'e Council of the· said Corporation duly held, and that the said
By-law is in full force and effect •
. Dated thi.s ............................................. ,, ................................ day of.. ... ,.,!/.A!'illA~I--................... 19 ... 7..9.. ) . _. _,. -~ ' . -. '' .
As witness the Seal of
the Corporation.
CORPORATE
SEAL
,,.
. .............................................................................. .
Clerk.
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