2309
L. Johnson,
Clerk
R
L.Lakß,
Warden .
READ
a third time,
and
finally passed this 15th
day of
May,
1974.
READ a
READ a first time this 15th day of
1. The Hea,d and the Treasurer or Deputy Treasurer are hereby
authorized on behalf of the Corporation to borrow from time to time,
by way òf promissory note, from the Bank of Montreal, a sum or sums not
exceeding in the aggregate Two Million dollars to meet, until the taxes
are collected, the current expenditures of the Corporation for the year,
including' the a.mounts required for the purposes mentioned in subsection
(1) of the said Section 329, and to 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 exoeeding 12 per centum per annum, which may be paid in advance or
otherwise.
seoond time this 15th day of
May,
May,
1974.
1974.
substi tuting
THAT
therefore
By-Law No
the
2293 be
following
amended by deleting
Cla,use
1)
and
NOW l1íEREFORE the Council of the Corporation of the County
of Elgin enacts as follows
AND
of By-Law No
1¡vHEREAS
2293.
interest rates have increased
WI-IEREAS Clause 1)
rate not exceeding 10 per cent
Bank of Montreal.
per annum
on moneys
authorizes
borrowed
since the passing
an interest
from the
of
By-Law
No
2293
"BEING
RATE P4ID ON
A BY -LAW TO
l\1VŒND BY -LAy!
MONEYS BORI~OWED FROM TI'IE BANK OF
No.
2293 THEREBY INCREASING
MON'l'REAL
'TIΠINTEREST
"
By-Law No.
COUNTY OF ELGIN
2309