HomeMy WebLinkAboutBy-law 3681/69 Amended By-law amending By-loaw No 3046 Fo.. ,oo-~s
~h~..~~...~L.~.~....T~.~...~L ~ ..........................................
BM-LAW No.
p:la to autho iz the borrowing of $
Whereas the Council of the ~o~s~p of
(hereinafter called the "Municipality") deems it uecessary to borrow the sum
of $2,0~,~.~ to meet, until the taxes are collected, the current
expenditures of the Municipality for the year;
~' ...... ~¢r~ And Whereas the total amount of the estimated revenues of the
to the estimates
~,,r ~h~ ~.~.~ Municipality as set forth in the estimates adopted for the year 1969 is
year if adopted; '
$ 5,212~770.
(Deletethis And Whereas the total of amounts heretofore borrowed for the purposes
~,,,a~u~.) mentioned in subsection (1) of Section 329 of The Municipal Act which have
not been repaid is $7~0~,
Therefore the Council of the T~ship of ~ckeri~
hereby enacts as follows:
1. The Head and the Treasurer are herebyauthorized on behalf of the Municipality to
borrow from time to time by way of promissory note from CANAmAS IMPERIAL B~
OF COMMERCE a sum or sums not exc~ding in the aggregate $2,000,~.~
to meet until the t~ are collected the current ex~nditures of the Municipality
for the year, including the amoun~ required for the pur~ mention~ in sub~ction
(1) of S~tion 329 of the Municipal Act, and to give on behalf of the Municipality
to the Bank a promi~ note or notes sealed with the Cor~rate ~al and signed by
the Head and Treasurer for the moneys so borrowS, with interest, which may be
paid in advance or othe~ise, at a rate not exceeding 8 - 1/2~r centum per annum.
2. All sums borrowed pursuant to the authority of this by-law, as well as all other sums
borrowed in this year and in previous years from the said Bank for any or all of the
purposes mentlon~ in the mid ~ctlon 329, shall, with inter~t thereon, be a charge
upon the whole of the revenues of the Municipality for the current year and for all
preceding yearn as and when such revenues are received.
3. The Treasurer is hereby authorized and directed to apply in payment of all sums
borrowed ~ aforesaid, together with interest thereon, all of the moneys hereafter
collated or received either on account or realized in r~pect of tax~ levied for the
current year and prec~ing years or from any other source which may lawfully be
applied for such put.se.
'/ Pa~ed this 7th dayof July
CLERK
I ~ereby certify that the foregoing is a true copy of By-law
h ari s~ at a me ng of ~ff~cil of the said
Municipality duly held, and that the said By-law is in full force and effect.
~ Dated This ~day of ~ 19~
As Witness the Seal of
the To~s~p of ~ek~r~