2378
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Dnt.
Municipal By-raw for Current
Expenditures.
i 27691 PrInted In Canada.
Municipality of............ E.Li?I
BY-LAW No.............. 2378
...............
WHEREAS the Council of the Corporation deems it necessary to borrow the sum of
1XiR¡:;~...M.:¡;.f;,L':¡;QH...::...::":...:::..::...::..::..::-..::,....::....,:,....::....::...,.,....,.,......':'....::....Q.Q1.10.0..;...........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 coip~¡'~tion as set
forth in the estimates adopted for the year 19.7..$..., not inoluding revenues derivable or derived
from the sale of assets, borrowings orissuanoe of debentures or from a surplus, including arrears
:~~T~¡ I':~~:t~ of taxes, is·....f..9.\.ffi...Mx.j'".L.:¡;QJ'J:"....UJJ'J::g:....ill.¡;t!JÆ.:¡.;;.P...N.~.¥...f..:¡;v.r;...:rHQJl.ê..i\..N!?......';J;'WQ...
revenues for the
m~~~v.o'í. I\h~~; ..HY.J'J:JÆ)@..l\..Jï!P....f..9.\JR:r:g:.t.N...:::...:::...::-....-::...:":"....::....::...::-....::....-::...~...::...:::...º.ºL),.Q.Q.....dollars.
AND WHEREAS the total amount heretofore authorized to be borrowed this year for
~u~rE:or'n'~~,~~; the purposes mentioned in subsection (1) of Section 329 of The Municipal Act is..TW.Q.................
By..law(s) passed '
this year. .
..MILLION...,......................."'.............O.O./.lOOJ...........dollars, of which the Corporation has already
borrowed a total .ofQ,N,E...MILLIO.N.,.F.I:œ...HUNDEED..N;¡:l'JJ.':y...F.I1fE...3:HO.U.sA.!iUì.~~¿a~~ OJ
THEREFORE the Counoil of The Corporation of the..........QQJ,U:I.'L'Y.....................................
of...........~.~~.pl............................................................hereby enacts as follows:
or De~utd1 Tregsute~ .
1. The Head and the Treasurer/are here ya thonze on e alf of the Corporation to
borrow from time to time, by way of promissory note, from the Bank of Montreal, a sum or
sums not exoeeding in the aggregate....TEREE..J1ilLLIQ.N....':'....::....::....::...,.,...."...."...."....",...:::..."'...
...::..:::....~...:::..:::...::'......~...::'..:::.....-::...º.º.llQ.º........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 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. ..J.k.... per oentum
per annum, which may be paid in advance or otherwise.
Þ
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OORPORATE
SEAL
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As witness the Seal of
the Corporation.
Clerk.
Dated th is......~...."....::..."....:"....,,,...~....~....::...,,....,,...<!ay._of............................... ....... ......... .19.
tion of the.................,..............................of......................................................in 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.
this....... .;¡"~:I; .......dayJ< ...MQY.¡¡:.M6ER...................19..'l.Q.
".-,/'''' -. ,- ,.. >- . - -
CO'f8!tATE'~ ...(Th~·H;~ø·~ii¡;;·~;;r~Íi.~:)....Wä·rëien
......~7i~
hereby certify that the foregoing is a true copy of By-law Np... .of
The Corpora-
Clark.
Passed
3. The 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 b¡:¡rrowed in this year
and any previous years, from the said Bank for any or all of the purposes mentioned in the said
Section 329, together with interest thereon, all of the mo'neys 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.
~ '-'0-
/:""'-'1
:2. A/rsums-borrowed from the said Bank~ for any or a.1I öfthe purposeS rriéntiOn6din the
said Section329.1 shall¡ with interest thereon, be a charge upon the whole of the revenues of the
Corporation for the current year and for all preceding years, as and when such revenues are
received.