85-50
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COUNTY OF ELGIN
BY-LAW NO. 85-50
"BEING A BY-LAW TO AUTHORIZE THE BORROWING OF ADDITIONAL MONIES
FROM THE BANK OF MONTREAL TO RENOVATE THE NEW COUNTY
ADMINISTRATION BUILDING."
WHEREAS by By-Law No. 85-29, approved by the Ontario
Municipal Board under Order No. E 850607, dated June 4th, 1985,
authority was given to borrow $1,200,000.00 to)'ffi;cD);¡, the said
cost of renovations; and '
WHEREAS additional costs'have been incurred to date
and more 'may become necessary because of unforseen conditions,
and items neglected to be considered in the original ~stimates;
and
WHEREAS it will become necessary to borrow a further
amount to complete the work.
NOW THEREFORE the Municipal Council of the Corporation
of the County of Elgin enacts as follows:
1. The Head and Treasurer of the Corporation of the
County of Elgin are hereby authorized to obtain from the Bank of
Montreal, amounts as required and not exceeding Two Hundred
Thousand Dollars in total, by way of promissory note or notes,
at a rate of interest to be determined at the time of borrowing
to meet the cost of renovating the new Administration Building.
2. That this by-law not become effective until approved
by the Ontario Municipal Board.
READ a first time this 16th day of October, 1985.
READ a second time this 16th day of October, 1985.
READ a third time and finally passed this 16th day of October 1985
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G. C. Leverton eau
Clerk.