2317
L. Johnson,
Clerk
this 18th day of
and fin<f;t:typassed
September,
,
R
this
1974.
L. Lake,
Warden
IililID
a third time
18th day of
READ a
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 a.nd to defray the cost of the
said works and all moneys ·from other sources properly applicable
to the cost of the said works.
second time
READ a first time this
18th day of
September,
September,
1974.
1974
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.
1. The Head and Treasurer of tþe Corporation of the
County of Elgin are hereby authorized to obtain from the Bank
Montreal temporary advances at a ra,te or rates not exceeding
12 per cent per annum, represented by a promissory note or
promissory notes or by way of overdraft or .otherwise not ex-
ceeding one million four hundred thousand dollars to meet the
cost of the said works pending- the completion thereof.
\
of
NOW 1BEREFORE the Council of the Corporation of the
County of Elgin enacts as follows
AND 1tJI-IEREAS it is desirable. to agree with a bank for
temporary advances to'~eet the cost of the said works pending
the completion thereof;
WHEREAS, subject to the approval of the Ontario Ministry
of COr(lITlunity and soèialServices and the Ontario Municipal .Board,
it is the intention of the Corporation of the County of Elgin to
construct an Elgin County Home for the Aged, the estima,ted cost
of which is $1,400,000.00 including furnishings.
AGED
PENDING
THE
COIYJPLETION
'I'HEREOF
.
"
TO lVlEE'I'
"BE.ING jJ. BY-LAW
THE
COST OF CONSTRUCTING
'I'O
Aü'I'HORI¿;E
11llli
AN ELGIN
OBTAINING OF
COUN'I~ HONÆ FOR THE
'l'EIl'jFORfù~Y j-Ù)VjÜ~CE3
,-
¡¡'.
.
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By-Law No.
COUNTY
OF ELGIN
2317