81-61
Prod, 2202407-Form.
(2) All sums borrowed
332, shall, with interest thereon
year and for all preceding years,
L,F.
o Ont. (g/aO) Litho. CANADA
from the said Bank, for any or all of the purposes mentioned in the said Section
, be a charge upon the whole of the revenues of the Corporation for the current
as and when such revenues are received.
33503
THREE MILLION FIVE 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 332, 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 exceeding Pr:i .mí?: per centum per annum, which may be
paid in advance or otherwise.
---~------- 00/100
~r Deputy Treasurer
The Head and the Treasurer are hereby authorized 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 exceeding in the aggregate
AND WHEREAS
not been repaid does not In
the Corporation as set out
the amount to be borrowed under this by law and the amounts of borrowings that have
the aggregate exceed 70% of the uncollected balance of the estimated revenues of
above.
AND WHEREAS the amount of the]f ¡~1!MmUeJKÑX~IiðroI!KJr!!(~
~XMXIX~~õlM~;¡(fJ{~NM~~;a~HIX_
estimated revenues of the Corporation as set forth in the estimates adopted in the next preceeding year)
EIGHT MILLION, THREE HUNDRED AND TWENTY THOUSAND,
IS ---- dollars
dollars.
have not been
repa id is
NIL
AND W.HEREAS the total of amounts previously borrowed under Section 332 of the Municipal Act that
to meet,
unti
the taxes are collected, the current expenditures of the Corporation for the year
1982
THREE MILLION
FIVE HUNDRED THOUSAND -~--------- 00/100 dollars
WHEREAS the Council of the Corporation deems
it
necessary to borrow the sum of
BY-LAW No.
Municipality of
81-61
ELGIN
M
-
The First Canadian Banl<
Bankof Montrea
Municipal By-Iawfol-
Expenditures
,
-
Currènt
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As witness the Seal of
the Corporation.
Clerk.
Dated this
of the of
duly passed at a meeting of the Council of the said Corporation duly held,
and effect.
day of
in
and that the said By-law
9
the Province of
is in
Ontario,
full force
hereby certify that the foregoing is a true copy of By-law No
of The Corporation
Clerk.
.
Passed this
(31
to the authority of this By~law, as well
Bank for any or all of the purposes mentioned in
moneys hereafter collected or received on account or realized
and preceding years and all of the moneys collected or received
applied for such purpose.
\1
The Treasurer
10th
is hereby authorized and directed to apply in payment of all sums borrowed pursuant
as all other sums borrowed in this year and any previous years, from the said
the said Section 332, together with interest thereon, all of the
in respect of the taxes levied
from any other source,
¡
,
,
for the current year
which may lawfully be