2257
G. C. Leverton
Deputy Clerk
READ
a
third
time and
finally passed
this 16th day of
May,
1973
READ a
READ a
2.
1973
.
second time this 16th day of
first time this 16th day
of
May
May,
1973
1973
That this
(3) The Treasurer or Deputy Treasurer 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 men-
tioned in the said Section 329, 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 öther source,
¡,¡-hich may lawfully be applied for such purpose.
by-law be made effective retroactive
to
April 15th,
(1) The Head and the Treasurer or Deputy Treasurer are hereby autho-
rized 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 ex-
ceeding in the aggregate Two Million, Three Hundred Thousand dollars
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 329, and tö
give, on behalf of the Corporation, 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 8 per centum per
annum, which may be paid in advance or otherwise
1.
the
That clauses (1 and (3)
following substituted therefore
of By-Law No
NOW 1HEREFORE the Council of the Corporation of the County of Elgin
enacts as follows
2241
be deleted and
AND v1JHE]ì:EAS
be available
t has been determined that the Treasurer may not always
to sign such promissory notes
i
VJHEli'KI\.S By-Law No. 2241, authorizes the Head (Warden) and Treasurer on
beha.lf of the Corporation to borrow moneys, from time to time, by way
of promissory note, from the Bank of Montreal, to meet, until the taxes
are collected, the current expenditures of the Corporation for the year.
WAY OF PROMISSORY NOTES
WIŒDEN AND TREAE3URER TO BORROW MONEYS BY
-,._."-~_...~-~~-_."----.__.,.._------
No~41.t-!:LBY-LAW !\-UTHORIZING TH~
"
"BEING A BY-LAW TO ~1END BY-LAW
..M'..__,..__,__'_.,__._____
By-Law No
COUNTY
OF ELGIN
2257