BYLAW - Authorize Borrowing of $40,000.00 - 19450108 - 91745L,F, .10 Rev. March, Hi38. :ont.r· 1 ·,,,,-
M~nicilla!By.,law'for cimen!'
Expenditures.
66116 Printed in Canada.
' ·-I
U! 'o';'i:··,-. '""'":~::.:."~: =~:;-~~~~ ::::;~~:.::: ::::::,: ~.t
---~---------.FortY. Thousand-~~"'..::-;;~-----•L:..---OO/lnr.t 11 ................. , ....................................................................................... , .................................................. ~ .. ars
-;>:>-::._--------_.·_:: .. ·._>--,_·.;_ --=-:c::('-__ -___ ·
to meet, until the taxes are collected, the current expenditures o~·the,Corporation for .the yel(r;"'
;. -,of,•;'-• .; "·, '"O· '_,' '· ,,.,,
AND WHEREAS the total amount of the estimated revenues of the Corporation as set
. · forth f~'iit~'~sfi~~t~ ~dopt~df~~ the year 1i(:f£~,not ~~hillding rev~nues derivabl~ ~/J~'ri~~d !!§
. ····.· ... . . . . .. . . ....• , ... ''' .,;, 'Ei.gi'ity F:Lve Thousand :~.?.T!i ':t'l~.~~.,fn>m· !lrr!la(!lpfJ'!-x~s,,. bl?fr9Y>'' ~gs .al!~ ,lssueg .. of .. de~~ntures '11·~·····:: ...... ,;., .. ,,, .. , .... ,, .. , ... , ......... , , ... " .... .
revenues _ for the t-·
· :_ ·: ·;Yai\tiCi~-'th:'; '~u :~. ~ ......... ·~~-~. :::-~ ~ .· :. :::::.7. .7. :~. :. :. ::.:: ~:-. ::. :. ::.::.:: .-:. .--:. ~-:. :. ::.::.::::: ::: :-: .. -:-. :. ::.::.::.:: .-:. ::.::.::.:: .:: ::-. :. ::.:: :;:.-:. : .. dollars •
.1\r\Jo WHEREAS the total amount heretofo~e authorized to be borrowed this year for ..
' .
B Law(s) passed-r_-·•c· --------.·· .. -.:--"' ·--•--... ,_, _.. ____ , •.. !".~lE~1 1 ":'~~~":;; ,th!l;purposes m.entioned in subsection (1) of Section 339 of The Municipal Act is .............. , .• ::.: ..... ~. •.·
......................................... : .... ; ............................................ dollars, of which tilE!' Corporation has, a! read. . .. . ... . ,.r,,..,, nc• .· Nil .· .. ·· ,.t ... , .. ,.
Nil '~ borrowed a total of.. .................................. ~ .................... , ........................ , ......................................... do Iars •
..... · . · · Town THEREFORE the Counml of the Corporation of the .............................................. : ............ .
of ..................... !:~?::~.~~ .............................................. hereby enacts as follows:
"":';~:~.::,;~~rT:::;:;~:,;::',: :::·: ~::~:·:: :}(
..... ~ .. ~In~ ',~pt ·e~!J~e~ii!Q:iil W~:~~~!"l~ll}..ii, ..•. ,;1.-,.1,,.: •• :~,~~·.~:;.~.:::::~:.F..gn~Y., . .r~,~·~·!?;~g_~.;;;":;0,; .. ~:2.::-("
.... ;.:.~.~.:-:.~:::.:::.~;.:-:.~ .. :::.:~~.7:.~:'7..~.~:-:.~.':.':Joll~; ;i~' ;neet, •· · u ntilthe.f~j{~ ·~;~ •. b~rl~l:~~~i;.the
__ '.<'<-; .--. --'-, - ->--, .-:--: __ --_---:-·'~<:, -.·_-, , ", -,e ,_,,_,,_, _.,_ .. _
current expenditurelf'of the Corporation for the' year, including the amounts required for the
:;(
''purpo5es mehtionea in subsection '(1}0f·the said·Sectilln 339i ahd' to'dive; on·behalfilfithe 'Cor-
----·'F=:''::;: i ~ c >·<, ~-'l'CH ;·--,
'tlleirl for th!i !honeys so borrowed with interest at a rate not exceeding ........ ~ ........... per centum
-:· ·_;" _,." < . •: ';:_;·.-,,-
. -~ '
2 .. All 1surns borrowed from the said Bank, for any or all of the purposes mentioned in the
said Sectipn 339, shall, with interest thereon, be a charge upon the whole pf the revenues of the
Corporation for the. current year and for all preceding years, as and when such revenues are
received. ·
!!\cJH f!j,Oi'i"t\elfr~M&er 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 339, together with interesnhereon;·a:n of tHe moneys hereafter collected or received on
accotlnfO'rreaiizec:l'Tn'resilecioftHe~iaxes tevi~d f~r the current year and preceding years and an
of the ITJilr;l~}'!h"l!llected or received fromini/llther source, which may lawfully be applied for such
purll~?·;;n:::n:o;'!.h;.J;( . . .
. 8th. January 4 P11888d thiS., ...... , ....... , .................. , ....... , ........................ day of .................................................... 19 .. ..
. ···coRPORATE
SEAL
I. hereby ,W.r,tify1t!Ja,t th,!l, foregoing is a true ~P~ of By-law No .... ~~.! ......... of the Corpora-
... ,_.,._.-,_«'",,,,,,.."'·'--'-_,\_y_' ;<.•.,;):~-.-}._·.':'-' .' (• ·,· :-o.-· '-i'' ·.-/ -, · :
tion of .............. ., ........... , ......... , .... , ............ , ............... , .... in the Province of Ontario, diJIY pa,ssed at a
i!l( lTrneetir1gFof1the";cou'r\ciliofHne\said Corporation duly held, •and that the said By-law is in full
··:force and effect .
Sact.-339 of
Chapter 266, R.S.O.
1937~
Currant
borrowings
. ;Dated thJs,, .. ,;.J?.!!Jh ........................................ day of.. ...... :!.~D.J:l.?:.r.Y. ........................ 19:±§. .. .
As Witness the Seal of
the Corporation.
EXTRACTS FROM THE MUNICIPAL li'tiT fl,s.oil937.
(1) . A co"cnci) rnaY by by-lal" ~iWer ~afore or after. the pass.ing oUhe by-lal"· for imp.~ing the rates for the
cU'rr80t y8ar authOriZe the:head ·an·d,tr88sUre'r to·borrow·from·time··to time·· by wliy-of·proMisSory··-note Such sums-as
the council. mS.y deem nec8ssary._._to meet, untn th_e,Jax~ are col_l8cted, the cur_nmt e_xpendltures of the corporation
for the-year, including the. amounts required for sinkin{rfi.md~ prinCipaltar:~d:intetestifallitlg;c:tu_e withinAhe_:.~r_;upon·-,
any deht of the corporation, school purposes, special rates purpOses,_ and. for_ any board, commission or body and
othe_r_-purpos~_Jor-,which:,,the cc;>rpor~_~ior:a-,-,i~--ref:llJired .. _by-:~aw. to -~_i'pv~d-~-~-;.,-----Y:,.-__
n (2) Th~_,_am~u~t::.w~ic~,_ ~ay be b~rr~~ed in ~~Y year fot·the' ~~~P~_mentiorled -i~ s~bseCii~n 1 shall-not,
. ·.c~~· ·. · · except.)lli~i\ the appro.~al of the)ll.u~icipai(Board, e~Ciltl~ seyent~ 1'8' .(l8ntu(l'l of ~h~.t~jal· ~(I'IQU~t of ,the. estirnate~
. (:~ ' ......... •revenues of•the··corpoiatloncasast.forttidn;the eStimates adopted for tlie year. . . . . . . . . . . . .... • .
J:;s~~:~f~~ -, _ ._-,_· (3)-.__ u n ~il 1SiJ'Ch_:_~,tii)l'i ~te~til:eJ'd<>,_P'~d-~_,-,w~ .. _I irJ1itatl~~~:u pprt-b()f~W-il1g ~~-~i~--~-~-----~X -~-!J ~~:tia,r:a ,_ ~· _s:(J~I.t . ~111-. __
Of estimates porarify_ be calculated' tipo'n fhe 'e5tirriB.fed revenues 'of the OOrpofatii:m-as set faith-in the 6Stirrl3.tes a.CJC)pted for the-
~a~dlng neXt_ p_re_ceding_ year.
Wllus!On (4) __ ._--Fri~:th~ '~-~r:p~-Of ~~-b~CHQri~ 2-~rid'-s=-~t~~a.ted reverlti~-shalf nOf i~-ciU'd~ --revellUBs, derivabl~: Or d~~i~-d·-·
from estimated revenues. from arrears of taxes, borrowings and_ issues of debentures.
• ·:---_-: ·---';'\ ,--" < .-. ----,. "' ----·--:-----... --.-• '·
ji-·-
-;:.--
si w!l~JII~Qf !VIO['jTREAL
"' ;-,·;~~ '.)2N~ >.:;;; .. ,(.., :-·-·-?:::-::::,1\BY~t~W,~ flr\:l" :~c;
,-;,~"\;< -,; h"(
Authorizing"fli"e' ""'
Borrowing of $ .. ~9.~,~g?,s;:,?ce. ...................... .
i'L>
For Current Expenditures for 19 ... ~.'?.
OF
· ... AuJ?tJra;;ont.
W>1'"· ,,_,,.,_.,.-:-:if n: LH?> <;;-:;(; t·· ,;rl;:1 L:-C:-;{;' n-~ ;:n·H~ L:. ;;,_;c!i·;, >''"·'' ~ ;:;nbif'l:Jl<j'l ;-;:Yc'i't c.--~ :-::::'PJUr;·: __ ., ··t;i '"' -.·:i. HOS\'. {'ri.i
l"ii:r; , "<'"i i>' ·::-_'5,i;l!'( •>·· \:;'f,S:Jd ·~,~ .,,.,., iHi.'::i ,:~~-;;-:;, 'J'H-~C'i ?~ :-!'-> i>3i;;~;:rq:.1 ,~·;_;y;•.;!::(-.1U;i ;···:i;!.'>;--: .. -, ;·;·:-;·;;•:· ·:i: ·:,~ _j::l_~~'.;; • "
I