BYLAW - Levy Taxes - 19250112 - 58325-BDY-I�i): NO
U- -Tes levied or to be lev'ed -�'or 'Ile currant ord*- nd " ture
Miereas "n e t aa Ina'.ry expe I
of the Corporat i0on of t'be Twv,�rn of Aurora for the year 1925 have no-IG been collected,
,and t-here is or will. be payable in Tespect of such taxes a sum �suflfic ient to
aU'hor*z9 the borro-inrr hereinafter Drovided for,
recessary to borrow the
I&I.nd 1 ereas the Council of `Gha a*a Corporation acems I U -3�
sum of Thirty thousand# dollars to meet the novri current orainrary
xpeirid ture o the said florporation, anO, it i's e-nx3eaient Ili-o author ze the borrowing
of the said sum upon the credit of t-he Clorporation,
"I'le IdanicipalIty for the year 1924
lana ereas the ordinary expe-itiMture o.L
eopvnlas '"tile sum Of (1) Thirty ei,, t thousand. one hundred and- ei.��hty nine
doll Aft #
100
or now outstanding in -I*espect of any
A7,q& Whereas no sum has been borrov
'or-tooration -4:7'
oinri to meet the current ord-ins"ary experaizure 0j- tl,:�e Lor the
/?Iborr
presexr'4- year, except (2) Bank: Overdraft Five thousand six Ihl..undred and sixty
I U
four dollars and forty�,-e"Ilht cents.
I b1-
th a rloroorati on of the
Ble It Therefore, F acted b7 the idunoc*pal Council oi-
Town of Aurora
4�
as f olli- ows
--he time b e i th the Lreasurar of t"ke sad
lo The Head or Act"'ng,Head -,,or U V, I
Corporation is hereby authorized to borrow gin one or more suns as the same ma7,-r be
rerruired from any Bank or Baliks, Personn- or 2ersons an amount not e..Trcceedllw� in the,
aggregate of the saia sum of Thirty
beinn, the amount 11i'ch the sa*d Council deems necessa
r7
to meet- the now -cur-11,ent ordinary expenditure of the said Corporation until such
time as -the taxes levied or to 'be levied therefor can 'be collected.
2* The Head or the Acting Head of the said Corporati on, VITIth the Treasurer
c-4a * d B�ank or Banks' 2ers on or
aforesaid shall have authority to pay or allow the 3.
ed at such rate or rates as may be
2ersons interest'on the sa*d suns so borrow
fron time to uime ao*reed upon be
M -*WL—JW
vcrll�l;:��,:�-l'ul:,13"1!:-bQz=4=d,, ana-mayalso 1*--L'-"*they see fit grant
such Promissory notes, coven(ants, agreenents or other vouchers of the (3,orpora,tI on
niven as security
as may Ire d by any, Ban"Iz or Baiik- s 'Oerson or Persons to be
be requL
therefor.
IT t
IL �MIo e nan
Any Prom x or Iltotes cov ts a-n-rcemznts or other vouchers wh'ch
-lq. 7 7 rnqr pn ril n A 11 -tn nn"T)n-ratn Rnal q--n A n-4 no -n n A n r 'h nl %, P I - F n f th n
'n A q A 0q, w* i.7h tI
Corporation by the Head or Actinrr Head a.,,,,id- Treasurer thereof, ana au,ly*, executed
and delivered to the Bank. or Banks,, Verson or 2"'ersons, anc'L said note- or notes,,
Povenants, agreements, or other votchers, shall obligate -the Corporation to repay
--!b 17, -rether w`h interest thereon as
all or any of the said sums to be bor'YoT. ed, to! lu
aforesaid, at such timos as =1ZY'r be a,'rrrre.d apon,
the amounts to be paid by virtuv of any suclzi note or notes, covenants,
.agreeme
nts or other vouchers shall not have been fully pa'd at ma4-urit.y,' anly
furthinr note or notes, covenants,, agrecoments or othervouchars, may be executed
as aforesaid on behalf of the Cor-®roration an& delivered. to any Bank or -Banks,,
2erson or 2ersons by vn7ay of renev�ral of the said obligatJons 'in whole or in part
if any, 1' 11
and shall obl cr-ate the Co..". oraton to repay the same with interest,
accordance with their respective terms.
and 1.4rected to koply so much of the
The Treasurer is hereby authorizqd
aid tax s so to be collected as may be necessary i of the obligati, f
e in payment I ions 'o
Vr. e Corporation created as aforesaid,
rst
Read at I secona and till-ird tir-el and passed in open Council this 12 t"h
-_day of January J 9 PL 19 25
�,�yor
A -4-e Seal of the Corporation an(I t*he -s14,--na4-ures o I *"-he
s Titness of the corporau
(3) �and. CLEIMT thereof.