1984
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COUNTY OF ELGIN
By-Law No. 1984
"Bein By-Law To Authorize the Obtaining of Temporary Advances To Meet
the Cost of Constructing An Addition to the E1f.!:in County Home for the
Aged. Pending the Completion Thereof."
WHEREAS, subject to the approval of the Ontario Department of
Sooia1 and Family Services and the Ontario Municipal Board. it is the
intention of the Corporation of the County of Elgin to construct an
addition to the Elgin County Home for the Aged, the estimated cost of
whioh is $600.000.00 including furnishings.
AND WHEREAS it is desirable to agree with a bank for temporary
advances to meet the cost of the said works pending the completion
thereof;
NOW THEREFORE the Council of the Corporation of the County of
Elgin enacts as follows:
1. The Head and Treasurer of the Corporation of the County of Elgin
are hereby authorized to obtain from the Bank of Montreal temporary
advances at a rate or rates not exceeding 5% per cent per annum,
represented by a promissory note or promissory notes or by way of overdraft
or otherwise not exceeding Six Hundred Thousand Dollars to meet the cost
of the said works pending the completion thereof.
2. A promissory note or notes or other vouchers. sealed with the
Corporate Seal and signed on behalf of the Corporation by the Head and
Treasurer thereof, for the advances from time to time obtained under the
authority hereof and interest thereon. may be given to the said Bank
providing for the repayment of or representing the said advances with
interest thereon as aforesaid.
3. The Treasurer of the Corporation is hereby authorized and
directed to apply first in payment of such ,advances with interest thereon
"',
as aforesaid, all moneys borrowed on the credit of the Corporation to
repay such advances and to defr~y the cost of the said works and all
moneys from other sources properly applicable to the cost of the said works.
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READ a first time this 19th day of September, 1967.
READ a second time this 19th day of September, 1967.
READ a third time, and finally passed this 19th däy
of September, 1967.
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amount.
authorize this
truly,
our
the Elgin County
Head Office was
very pleased to
to
$600,000. to
Home for ,.'the
Aged
,
we advise that
temporary credit of
construct an addition
Dear Sir
,
With
reference
to your application for a
Mr, H. L. Johnson,
County of Elgin,
Court House,
St. Thomas, Onto
Treasurer,
October 6,
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$l~~.tf!:::f
MAIN OFFICE-408
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1967.
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