88-69
Prod. 2202407-Form. l.F.
(2) All sums borrowed from the said Bank, for any or all of the purposes mentioned in the said Section
89, 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.
10
Onto
12/84) litho. CANADA.224522
MILLION------________ xxi 100 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 189, 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 irne per centum per annum, which may be
paid in advance or otherwise
the aggregate -------------- FIVE
borrow
IT THEREFORE ENACTED by the said Council as follows:
or DeDutv ,Treasurer .
The Head and the TreasurerVot the Lorpatatlon are hereby authorized on behalf of the Corporation to
from time to time, by way of promissory note, from Bank of Montreal, a sum or sums not exceeding in
BE
AND WHEREAS the amount to be borrowed under this by law and the amounts of borrowings that have
not been repaid does not in the aggregate exceed 70% of the uncollected balance of the estimated revenues of
the Corporation as set out above.
dollars
s
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 amountofthe
estimated revenues of the Corporation as set forth in the estimates adopted for the next preceding year) -1.9..8.ß
SIXTY THOUSAND,
SIXTEEN MILLION, EIGHT HUNDRED AND
EIGHT HUNDRED AND EIGHTY-SIX----_______________
dollars.
have not been repaid is
NIL
AND WHEREAS
the total of amounts previously borrowed under Section
189
of the Municipai Act that
to meet, until the taxes are collected, the current expenditures of the Corporation for the year
------------------FIVE MILLION---------_________xx
necessary to bor~ow the sum of
WHEREAS the Council of the Corporation deems
it
101)
dollars
BY-LAW No
88~69
Municipality of
ELGIN
P I
¡r 1J'/¿Jt.~A·iI.^.d.!
11
/-}
¡;;rð:.t.f./"'
I!:ier
¿f7"
"'r
Clerk.
the C'orporation
As witness the Seal of
19
Dated this
~~ ~
duly passed afa meeting of the Council of the said Corporation duly held,
and effect.
day of
in
and that the said By-law
the Province of
is in full
Ontario,
force
of The Corporation
hereby certify that the foregoing is a true copy of By-law No
~
~
(The Head of the Corporation)
Clerk.
Warden
Passed this
1St
". .. ¡bUsy
.nyor aí, 'e p,npO.e. mantionedln the .ald Section 189, together with Interest thereon,
money. 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. I
day of
19
8R