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BYLU N 0. 1029 <br />A BY -Law of the Council of Essex to raise a loan to meet <br />the Current Expenditures for the year 1948. <br />Whereas it has been deemed expedient to raise a loan <br />o� � . 4 .. — . �oU� ,l.required to meet <br />the Current Expenditures of the County of Essex for the year 1948. <br />Be it therefore enacted by the Municipal Corporation of the County <br />of Essex as follows; <br />1. That it shall and may be the Corporation of the County of Esse�x /) <br />to borrow from any Chartered Bank 9,r Banks the sum of ($.- *P. <br />i <br />�. for the purpose aforesaid <br />to meet the current expenditures for the year 1948 by demand notes <br />at the rate of 4 percent per annum. <br />2. That the Warden and Treasurer of the County be and they are <br />hereby authorized to enter the necessary agreements to carry into <br />effect the said loan. <br />3. All revenues of the Corporation are hereby charged with the <br />repayment of all moneys borrowed under the authority of thit: -by- <br />law and the said Chartered Bank or banks are hereby declared to <br />have a lien upon all revenues until this said loans under the <br />authority of this by -law are fully satisfied. <br />4. The Treasurer is hereby authorized and directed to apply so <br />much of the Revenues of the Corporation as may be necessary in <br />payment of the obligations of the Corporations created as afore- <br />said. <br />Passed in open Council this.. Aay of..... ...1948. <br />C r <br />Warden <br />