029
COUN'ry OF ELGIN
29
By-Law No
OF ELGIN
COUNTY
MUNICIPAL COUNCIL OF THE
"TO AUTHORIZE 'r}ill
STOCl5 TO THE. AMOUNT OF ,EIFTL TH9'ySAND POUNDS
1'.0 SUBSCI~.!BE .FOR
nLø-_.LIIiLQE_ßAI~WA X.X1l OM T}~LT-9W!'L OF --ê.T-!__m 0!1ߪ-.1'O _T-HE __ TOÞIN-
A
ESTØ-BLISHED PASSIJ:lG IN
IS
ª-l:íl_LQ,E_~~1l'r.IU:Lª-ºQ!'LA~_JLIŒ!i~
9IMÇOE_.AND TO RAISE_1'1m._SA1VI~
OF
PII~IÎ_çT_1.m~_ THR9J!GH. THL'rQWN
OIi...J:.U.~..sR~pIT OF _rH[Ll'!!.![NIQJ1'ALI'Ç.Y LOA!i..):\!:!i!?_ PAYA:ê.LE WI_TJiJN
.rml\.'r.X.- YEARê..!..
"
November 1855
WHEREAS by an act of the Parliament of the Pro-
vince of Canada passed in the Sixteenth year of the Reign
of Her Majesty Queen Victoria entitled "An act to establish
a Consolidated Municipal Loan Fund for Upper Canada" it is
amongst other things enacted that it shall be lawful for the
Corporation of any County by By-Law to authorize any sum of
money to be raised on the credit of the said Consolidated
Municipal Loan Fund and to appropriate such sum or so much
thereof as may be necessary in making, constructing or como.
pleting any Railroad within or without the Municipality the
construction whereof will benefit the inhabitants of such
Municipali ty.
Passed 13th
a
AND WHEREAS the construction and completion of
line of Railway from St. Thomas to the Township of Bertie
will benefit the inhabitants of the said County of Elgin
and whereas the Municipal Council of the County of Elgin
are desirous to take stock under the said Municipal Loan
Fund in a line of Railway from St. Thomas to the Township
of Bertie as soon as a line is established passing in a
direct line through the Town of Simcoe to the amount of
Fifty thousand pounds payable in thirty years.
AND ÞŒEREAS this By~.Law has been approved by a
majority of the duly qualified Municipal Electors of the
County of Elgin at general meetings called for that purpose
by public notice put up in more than four different places
in each Municipality respectively and held on Monday the
29th day of October A D. 1855
BE IT ENACTED by the Municipal Council of the
County of Elgin constituted and assembled under and by
virtue of the Upper Canada Municipal Corporations Acts
and by virtue of the Upper Canada Consolidated Municipal
Loan Fund Act.
(Cont'd)
Page 2
29
No
By-Law
AND IT IS HEREBY enacted by the authority of
the same by and with the approval of a majority of the
qualified Municipal Electors of the said CountYof Elgin
at general meetings called by public notice put up in
more than four different places in each Municipality
within said County of Elgin and published in conformity
with the requirements of said Loan Fund Act and held on
Monday the 29th day of October A. D. 1855. That the sum
of Fifty thousand pounds shall be raised by way of Loan
for a period of thirty years under the provisions of the
said Loan Fund Act for the purpose of taking stock in a
line of Railway passing in a direct line from St. Thomas
to the Town of Simcoe and the Township of Bertie.
BE IT FURTHER enacted that the principal and
interest of the Loan shall be payable by all the Town-
ships, Towns and Villages in the said County of Elgin
and the County Treasurer shall in each year apportion
the amount to be paid by each according to the amount
of property returned upon the assessment rolls of such
Townships, Towns and Villages respectively for the Finan-
cial year next preceding that for which the apportion-
ment is to be made and in conformity with the said Loan
Fund Act
BE IT FURTHER enacted that the sum of Four
thousand pounds per annum shall be paid by the Treasurer
of the County to the Receiver General half yearly being
Eight per cent on the amount of the Loan of Fifty thou-
sand pounds and also such further sum as may be required
on account of the principal of said Loan not exceeding
the surn of One thousand six hundred and sixty-seven pounds
in each and every year until the Loan shall be fully paid
up.
AND BE IT enacted that all sums of money en-
suing or acruing to the said County as profits, interest,
bonds, dividends or principal from the said Loan of Fifty
thousand pounds shall be applied in payment of the principal
money and the interest on the said Loan to be paid to the
Receiver General by the Treasurer of the said County of
Elgin in conformity with this By-Law and the said Loan Fund
Act.
AND BE IT ENACTED that this By-Law shall be in
force and take effect from and after the thirteenth day
of November A. D. 1855 or such time as it shall have been
approved by the Governor in Council
Thos Locker
Warden
Passed 13th November 1855
W. McKay Clerk
(Cont'd)
By-Law No 29 Page 3
Read a first time 26th September 1855
W. McKay Clerk
Read a second time 13th November 1855.
W. McKay Clerk
Read a third time and finally passed 13th November 1855
W. McKay Clerk