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
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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
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
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