BYLAW - Temporary Borrowing - 19800121 - 233580'•v
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L.F.10 Rev. October 1972
_On~. .. , ..
Municipal BY"'Ia:w for :Current'
:ExpJmQitu_res.
67395 Printed in Canada,
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· ··•· M~·nicip~l!t~''i>f...~.: ...• : ... : .• ~ ... ~9.~.·.:Sir::.N~~~--······~.: ... : ..•..................
.. ·. SY~LA '1/. No •... .?~}.?..:.::-.... ~-~ ..... : ...... ,;, ........ ,., .... :., .... : .. :.: .............. : ....... , ..
WI-H::REAS the Council of the Corporation cfeemsit llecessary to borro\\' the .sum of
, ... :: .. ;;:: ....... _.,,"' ::-: ,.,;:;':,., ,-.:,_:,,; ;::;:::::ON.!'i ... tllLLlQI1-:::::::: :::::-.::-::::::::::::::-:::.:::::::-.::-. ::-::;:::::-.::-.::-:::,-::::':.dollars
.to. meet, .until the .taxes . .are collected, the.current expenditures of the Corporation for the year;
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· AND WHEREA$the total amount of the estimated revenues of the Corporation as set
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f~rth in the estimates adopted for the year 19 . .7.9.., not including revenues derivable or derived
' ·:· '' • ~ • • • -• ' ' ' • .• -, \ 1 -. ' • '' • -• '" -• : ., ' \-~ • ; '' ••
from the sale of assets, borrowings or issuanc_e of debentures or from a.surplus, including arrears . .. . ' . : .. ·•· ';_:' -------' _",_ .. ,; ' -· ---~ ' -,. " :; ' .
:~.~r~f '":.:.~~;,';'.; oftaJtes, is* ..... : ........ e;PI; .. ~JJ;f!J.Qf.h ... :~9.¥:\L~.P.~!?..~.~P._ .. ~f.'!.~::-.~.~g __ ::.: ................. .
revenues for the · '"._
mi~~:J.~,.'\";~; , ........ ,., .................. "·'·"~~~QV~Nl1?..1,,.,Q@ .. JJ::\.lli!2~.P. ... A~----~~'f'!.:::~~9 ... ::::::::-:::-::: ... dollars
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AND WHEREAS the total amount heretofore authorized to be botrowed this year for
~u~TE•.,'··~~.v~'::; the purposes mentioned in subsection (1) of Section 332 of The Municipal Act is.:., ..... :J:rJ.JI ..... : ....
By-law(s) pllS$ed .. _ · . . :-.. · -. . . . ..
this year. · ··· ·_ . · ........... : ....... : ...... ::.:.:": ...................... : .... :::: ........................ dollars, of which the Corporation has already
borrowed a total of... ........................ )!J~ ..................................................................... c: .. :: .... "···''"dollars.
THEREFORE the Council of The Corporation of the ............. ~9.~ ...................................... ..
of ............................. AVRQRA ..................................... 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 .................. ::-.::-.:::::::-.::-.::.:::::::-.Q~ ... f.!;Q;..:r:_:);Q!:i!::-.::-:::::::::::::.::.:: ... .
.. ::-.::-.::-.::::::::::-.::-.::-:::::::::.:::::::-.::-.::-.::-::::::::-.::-:::::::::::-.::-::: ... dollars to meet, until the taxes are collected, the
current expenditures of the Corporation for the year, including the amounts required for the
purposes mentioned in subsection (1) of the said Section 332, and to give, on behalf of the Cor-
poration, to the Bank a promissory note or notes, sealed with the corporate seal and signed b)
d . h. t . Prevailing them for the moneys so borrowe wtt mterest a a rate not exceedmg·:Rat-e··--........ per centum
per annum, which may be paid in advance or otherwise.
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2. All sums borrowed from the said Bank, for any or all of the purposes mentionea in the.
said Section 332, 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 th¢·authority ofthis.By-law, as well as all other sums borrowed in this year
and any previous years,' from thii said' Bank for any or all ofthe purposes mentioned in the said
Section 332, together with interest.thereon, all of. the moneys her~~fter 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.' ... · · '. · · :· .. · ·• · ·~ J · · ·· · · · · · · · ·. ·""
' " ...... , ......... .. ·7>:.~ .. '' .... ' ···d ~·· ', '" Ti)'A ':{Y= 8Q " . Passed thts .................. E:;>/.7.'::: .............. , ..................... ay.of ......... ..,. · "'"'0.?'·''"""".19 ... .
· CORPORATE ; . • · . ' . ·. . ;,;,;;,;,,;,, ........... :·.:;,,;;;;: ... ·~;;;;;L: .. •,,;,
SEAL . ..·· ' (~ H~~r~1
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I hereby certify that the foregoing is a t0r~e copy ~f By-l~w N~.$.c1.:?.:~:M.oiThe dorp~ra-
.· · ·· · · . · TOWN' · ·· '·· ' AURORA · ,..., '·····:· ... ·: ' ·;,.,.. •· "'' .··•• ·· ·.f tlon of the ................................................ of.. .................................................... m the Provmce of Ontano,
duly passed aLa meeting of the CounciJ:of:Jhe said Cqrporati<Jn duly• held, and that the sai.d
By-law is infull force and effect. . . . ..
............. . ; ·.. ... '· •. , •. ;;o:.,...<C'S\i::i,'' . '; .......... ,..
Dated this ..... : ....... ::.: ....... : .. c:;;;!.-2 .. ~:~ ... :.~ ..... day ot.::::: .. : .. J.ANUARY ................ 19::80.
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As witness the Seal of
the Coiporation. ~~· ... '·.:,·•:,·:,':·.,··· .... ··
. . . ............. -........ ·········c·,·,·;k:·· -·········.-··.·. . ........... .
CORPORATE
'SEAL
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