027
COUN'rY OF ELGIN
27
By-Law No
:J:' 0 AU'rH OliI Z~-'t~JY!VliIÇ IP lhJ:,._.Ç.9.1l.NC IL --9X..THE _Ç..9.1l.l:J.!LQf ELGIN
THOUSAND POUNDS
SUM OF SEVEN
.~O RAISE J2.Y ~1fALOF .j,OAN THE
T~
I:.1l.liPOSE OF. PAYING
THE
FOR
TWEN!Y YEARS
PAYABLE WI'!'HIN
DEBT .ßUE_ AUEPARß-
SUM ..9.LEIVE_THOUêAND POUNDª-J3EING THE
COUNTY OF.~IDDLESE~AND
COUN~L-º-F ELGItL~-º--~rHE
nON BY THE
sU!~ OF__TWO THOUSAND POUliQJLTO CO~'!R.LETE THE
COUNTY BUILDIl:JGS.1N THE
TO RAISE THE
"
Passed 30th January 1856
ELGIN
SAID COUNTY. OF
1tHEREAS a By-Law number Eleven heretofore passed
by the Council of the County of Elgin to raise the sum of
Seven thousand pounds for the above mentioned purposes
having in consequence of the rate of Eight per cent interest
having been inserted therein been declared void, it is de-
sirable that the said sum of Seven thousand pounds should
be raised to pay said debt of F.ive thousand pounds to the
County of Middlesex and Two thousand pounds to complete
said County Buildings
of Seven hun-
as a special
interest there~
to this By-Law
AND WHEREAS it will require the sum
dred and seventy pounds to be raised annually
rate for the payment of the said Loan and the
of as the same shall become payable according
during the period of Twenty years.
AND vrnEREAS the amount of the whole rateable pro-
perty in the County of Elgin according to the assessment re-
turns for the same for the year One thousand Eight hundred
and fifty-five was One Million five hundred and seventy-nine
thousand nine hundred and eighty·-seven pounds and it will re·-
quire the annual rate of one eighth of one penny in the pound
upon such rateable property as a special rate for the payment
of said interest and for the creation of a siw{ing fund for the
payment of the principal of said Loan according to the require-
ments of the One hundred and seventy-seventh section of the
Upper Canada Municipal Corporation Act of 18L.9 and 1851
BE IT 'rrillREFORE enacted by the Municipal Council
of the County of Elgin under the authority aforesaid that it
shall and may be lawful for the Warden of the County of Elgin
to raise by way of Loan from any person or persons body cor-
porate or politic who may be willing to advance the same upon
(Cont'd)
2
Page
27
No
By-Law
the credit of the Debentures hereinafter mentioned a sum
of money not exceeding in the whole the sum of Seven
thousand pounds and to cause the same to be paid into the
hands of the Treasurer of said County.
2nd - That it shall and may be lawful for the
Warden to cause any number of Debentures to be made out
in sums not less than Twenty-five pounds each and not ex--
ceeding in the whole the sum of Seven thousand pounds and
that the same shall be under the Common Seal of the said
County of Elgin signed by the Warden and countersigned by
the Treasurer and made payable within Twenty years from
the time this By-Law shall take effect and come into opera-
tion at the County Treasurers Office or such other place
as the Warden shall appoint.
3rd That the said Debentures shall bear interest
at the rate of six per cent per annum from the date thereof
which shall be paid on the 30th of June and 31st day of
December in each year at the office of the County Treasurer
or such other place as the Warden shall appoint.
4th - That a special rate of one eighth of a penny
in the pound shall be raised, levied and collected in the
years 1856, 1857, 1858, 1859, 1860, 1861, 1862, 1863, 1864,
1865, 1866, 1867, 1868, 1869, 1870, 1871, 1872, 1873, 1874,
and 1875, over and above all other rates whatsoever upon all
rateable property in said County for the purpose of paying
the sum of Seven thousand pounds with the interest thereon
and the proceeds of such special rate to be so levied and
collected shall be applied solely to the payment of such
Debentures and the interest thereof until the same shall be
fully paid and discharged
5th - That the sum of seven thousand pounds when
the hands of the County Treasurer shall be applied
set forth in the preamble of this By-Law and
purposes
other
paid into
for the
for no
That this By-Law shall take effect and come
on the 29th day of January A.D. 1856
6th
in- ;0 operation
R. Johnson
Warden
Passed 30 January 1856
Certifed
W. McKay
1855.
McKay
Clerk
Read a first time 26th September
Certified - W.
Clerk
1856
McKay
Read a second time 30th January
Certified - W.
Clerk
passed 30th January 1856
W. McKay Clerlc
Read a third time and finally
Certified --