1684
"
;;
~
Ii
1:
It;)
By-Law No. 1681,.
liTo Authoriae the Warden and Treasurer to Borrow the Sum
of One Hundred Thousand Dollars."
The Elgin County Council enacts:
THAT the Warden, and Treasurer, be, and are
hereby authorized to borrow the sum of One Hundred
Thousand Dollars from the Bank of Montreal, as it may
be required to meet the expenditures of the Corporation
of the County of Elgin during the year, 1956, and to
give as security therefore notes of One Thousand Dollars
or multiples thereof.
READ a first time this 21st day of November, 1956.
READ a second time this 21st day of November, 1956.
READ a third time and finally passed this 2lstday of
November, 1956.
.ð~ ~ðU~
"
Clerk Warden
~
'~~F';.10'Rov~ JUly 1952;
Out.
Municipal BYRlaw for Current
Expenditures.
63026 Printed in Canada.
M u n i ci pal ity Of...,..qg!.P.!? !.',~.~.t<?!?-.J... ..c..<?~,!?-.t:.Y.....<?f....~Jg i.!1..,~,
BY -LAW No" ,.."..~.~$.!I:...,..."....,.,.............,',..,.......,"',.....,..,"",.. ",..",
WHEREAS the Council of the Corporation deems it necessary to borrow the sum of
9J;).,~,., R~!1:~tr.,? g", T.h9.l\, ~,ª9: 9.;:,,:-:,:-::::::: :-:,:-:,:-::::::::;-, :;-,:-:::: :::::::;-, :;-,:-::::::::;-.:;-.::.:-: :::::: ;:',:-:. ;:,,::::: :;-,:;-. :-:.:-:dollars
to meet, until the taxes are collected, the current expenditures of the Corporation for the year;
AND WHEREAS the total amount of the estimated revenues of the Corporation as set
forth in the estimates adopted for the year 19...5.9, not including revenues derivable or derived
from the sale of assets, borrowings or issuance of debentures or from a surplus, including arrears
.' 'N~TE} '"'~rt ',m.; of taxes, is~~?,~.I}ß.7,~.9-º,I.....t\'lJg~...ff\!-,I}.çl:r:~.cJ.....ªp:g..,r,hJ,r.,~y':::r.Y:l9...,~hÇ?~,?,~9:g"......,
oun 0 us mae . > . _ . . .. ,
ravenues for the
'1 '""'"' ye" If ad· 0 H dr d dE' ht', JÌt
I ~vt~~t ~8a~~t. those . .~.?. .... .~.~... ...~..... .~~. ....... ,,¿,g..... .)~.7..~.~Y.~....7. :::::-. :-::::.7: :::~. :7.::'."::.7.:':': ::'.:7.:::::::::-. ~.7: .::.7.:7.:7.::::..d 011 ars.
I'!
AND WHEREAS the total amount heretofore authorized to be borrowed this year for
N°iE' ..""~' rm; the purposes mentioned in subsection (1) of Section 341 of The Municipal Act is..$.?,9.º,I..q9.9.,~OO
GUll 0 P evou
BY~law(B) passed
'hI' Y'''. F ' H d d 'fh d
...~y'~......,:-!!1,..E~,..........,(),l\,s.~!1:..,::-:::::::::::-.;:',:-:,:':',::::::;-.dollars, of which the Corporation has already
borrowed a total of..., ,F,',()1l,J::" J!.\!-P: 9.r.~,cJ.", !i\D.9., ß,?y.~nt y.'" r. h (),l\,?' !i\D.g, :-:,:: ,:: ::::;-,;:" :-::::, , dollars.
THEREFORE the Co~ncil of The Corporation of the,......,g,()1l,!.l):>Y.:......................,........,..:,....
Of......,]!;;I,g~,~........"......,......,...........,........,........,........,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!l,~,ß~.~.d.x.:~,~....':l',~.9.11,:!.él!l,d.,-:-:::-,::,:::::::::::.::.::.::,
-:-.::.::,::::::::-.::-.:::::::::::::-,::::-::::::::::::-,:':',:':'::::::::-,::-,:':',:::::doliars 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 341, and to give, on behalf of the Cor-
poration, to the Bank a promissory note or notes, sealed with the corporate seal and signed by
them for the moneys so borrowed with interest at a rate not exceeding........?l,....,..per centum
per annum, which may be paid in advance or otherwise.
JI.. p(y~ ¡:'~~iä' t7 cuo...-:
~
(I C erk /' arden
" Clerk of the Corporation of the
I, J. D. Thomson.
----,
County of Elgin, -- - , 'do hereby certify that the foregoing
is a true copy of By-law No. 1686. passed by the Council of the said
Corporation on the~st day of November 19 56.
,.-
/
.'....,'<...i;.. ,
, ,
i,
,
Exclusion
fromostimatod
revenues
from
from
(4) For the purposes of subsections 2 and 3, estimated revenues shall not include revenues derivable or derived
the sale of assets, borrowings or issues of debentures or from asurplus including arrears of taxes and proceeds
the sale of assets.
Temporary
applloation
ofostimates
ofprecedlnu
year
:3) Until such estimates are adopted, the limitation upon borrowing prescribed by subsection 2, shall tem-
porarilY be calculated upon the estimated revenues of the corporation as set forth in the estimates adopted for the
next preceding year.
Umltupon
borrowings
(2) The amount which may be borrowed in any year for the purposes mentioned in subsection 1 shall not,
except with the approval of the Municipal Board, exceed seventy per centum of the total amount of the estimated
revenues of the corporation as set forth in the estimates adopted for the year.
Ourrant
borrowings
8eot.341 of
Chapter 243,
1950.
R.S.O.
EXTRACTS FROM THE MUNICIPAL ACT R.S,O. 1950.
(1) A council may by by~law either before or after the passing of the by~law for imposing the rates for the
current year authorize the head and treasurer to borrow from time to time by way of. promissory note such sumS as
the council may deem necessary to meet, until the taxes are cOllected,the,currentexpenditures of.the corporation
for the year, including the amounts required for sinking fund, principal and interest falling due within the year upon
any debt of the corporation, school purposes, special rates purposes, and for any board,commission or body and
other purposes for which the corporation is required by law toprövide.
CORPORATE
SEAL
As witness the Seal of
the Corporation,
.;:....,4~,~
tion of the gg?~!?Y....,......., ,of... :E.:L.gJ.n.".. n the Province of Ontario,
duly passed at a meeting of the Council of the said Corporation duly held. and that the said
By-law is in full force and effect.
Dated this....., ,..,. ,.", .,?,1.!?,!;-.",..""""""..""", ,."".. ,.." day of ...... ...N.9y. ~.mÞ,? r. ",
,19..,5,9..
,4'/ ¿ ¿,o "7~'- /1
//,// ., " ...' ..Yo. y " /:
,¿ ~"'"t/-.#"?-I..77:?i--"wß ~"''"',;'' ....-z.-~/L.-..,,(..~~ L~
"?~'''''''' "¿'¡'¡';~' H~~d' ~f;th~ ë~~po;~t¡¿~:)" "\¡vä"fërëiï 0
....¡........ð2..
hereby certify that the foregoing is a true copy of
By-law No 1684
...............
of The Corpora-
Clerk.
CORPORATE
SEAL
Passed this...,r.~~,~.1;Y.:::f.:\..r.,~:t
day of
3. The Treasurer is hereby authorized and directed to apply in payment of all sums
borrQwed 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 341, together with interest thereon, all of , the moneys hereafter 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.
,N9.'-!",?mpe.¡;:.
,19..56..
2~ All sums borrowed from the said Bank,
said Section 341, shall, with interest thereon, be a charge upon
Corporation for the current year and for all preceding years, as
received.
."~--.'.~'"---............, -~.~-:....-
are
~'!.'
(1
M
i;
n
,
!
l,-··
"
..,'¡ ;j', ~ }'HE: ¡lIE ~'~
, 'I' 'oJ!"";" ~, J. i 0 ,I,l\: \
.--, Jr" ", CCiUNTY RgìiENUf~¿)
, ',"J:,. ','
1 on"."'" 'r;ti9~f),.. "J
._, ':."" ,.1\, <""'" .'",\,) ^,,\, II
., y. '"i)"i)'(>f,';,?
b W¡j'd:, J tu e. I'; :i 'C'o I" ,)-t
ì9.\~Jl~rf!)),~~r\e:~, "e "r ¡ i:~5Ql,181.00 i·~.'1,'f t:! {
~3H)J,i ;yt'; '('''110 r;·c;:~'\
prWiÌl'( e\b±i:!Ôht;!ar~S j, " ,)t5"dòo~oo
City of St.Tho¡¡¡t\s 50,000.00
Other t'lwdoi~iÜit:l.es :3'0,000.00
Other sou:ti'¢es 26,000.00
9:3'2,18'1.00
70ur f ';;'9)2. 1M 00 ' 6l~5,5)0.OO
,,"/0" 0 ~¡t" $.." 't-. \,.....
gX.p¿NDI~rUHBS
Ten Montïl$ ~ctu~l 749 .~l¡.5.:31
November 130,000.00
Deoomber· 110,000.00
,
989,245.:31
Supplementary Road By-laws
Passed sinoe Budget sot 120,000.00
"
,-
,
BlH u~ p\::JUUr\UBW ~B~UUAnu ~4t j.U HU .10 ^U~ .IVj. ->\ut:'H µp::::õ \;f4! WU~J. fJi::fMU.UUY :swmi 11'11 G