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83-49 Prod,-2202407·Form. L.F,10-0nt, (9/60) litho. CANADA 33503 121 All sums borrowed from the said Bank, 332, shall, with interest thereon, be a charge upon year and for all preceding years, as and when such revenues are for any or all of the purposes mentioned in the said Section the whole of the revenues of the Corporation for the current received the moneys so borrowed with interest at paid in adv.ance or otherwise. THREE MILLION to meet, until the taxes are collected, the current expenditures of amounts required for the purposes mentioned in subsection (1) of th..... "'a'cf C'.........:......... the Corporation, to the Bank a promissory note or notes, a rate not dollars In year, including the ~ ~~ I~'I .....~~.,~.. 332, :0 give, on behalf of sealed with the corporate seal and signed by them for exceeding PRLME per centum per annum, which may be for the and (1 to time, FIVE HUNDRED THOUSAND --~-~--~~~~ or Deputy Treasurer The Head and the Treasure?are hereby authorized on behalf of the Corporation to borrow from time by way of from the Bank of Montreal, a sum or sums not exceeding in the aggregate promissory note, 'XX/lOO AND WHEREAS the amount to be borrowed under this by iaw and the amountsof borrowings that have not been repaid does not in the aggregate exceed 70% of the uncollected balance ofthe estimated revenues of the Corporation as set out above. -,;1· is AND .WHEREAS the ·amount of the· estimated revenues of the Corporation as set out in the estimates adopted for the current year and not yet collected (or, if the same have not yet been adopted, the amount ofthe estimated revenues of the Corporation as set forth in the estimates adopted in the next preceeding year) TEN MILLION, ONE HUNDRED AND EIGHTY-NINE THOUSAND FIVE HUNDRED AND FIFTY-SEVEN --~--- XX/lOO dollars dollars. have not been repaid is nil AND WHEREAS the total of amounts previously borrowed under Section 332 of the Municipal Act that to meet, until the taxes are collected, the current expenditures of the Corporation for the year THREE MILLION FIVE HUNDRED THOUSAND --~----~~~~ 'XX/lOOd II oars WHEREAS the Cou nci of the Corporation deems it necessary to borrow the sum of BY, LAW No, Municipality of 83-49 ELGIN r'" ,.,.. .. w. "._..___'..'....~ _ Bank of Montreal Municipal By-law for Current Expenditures l I I II jl " 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 9 in the Province of and that the said·By-law ¡sin Ontario, full force hereby certify that the foregoing is a true copy of By-law No of The Corporation Clerk. Warden ~¡rJf".'?"i~JW Passed this (3J The Treasurer is hereby authorized and directed to apply in payment of all to the authority of this By-law, as well as all other sums borrowed in this year and any previous Bank for any or all of the purposes mentioned in the said Section 332, together with ¡nteres I n, moneys hereafter collected or received on account or re,alized in respeet of the taxes levied ,~, ~II~ : and preceding years and all of the moneys collected or received from any other source, which may applied for such purpose. 15TH 983 J:~~ ...'--~ '":urrent year lawfully be sums borrowed pursuant om the said all of the I I