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BYLAW OF THE COUNTY OF ESSEX TO RAISE A LOAN TO MEET THE CURRF~r EXP~IDI~ OF <br /> <br />THE COUNTY OF ESSEX ROAD SYSTEM FOR THE YEAR 1953. <br /> <br /> WHEREAS, it has been deemed expedient and necessary to ~aise by way of a loan <br /> <br />the sum of Four Hundred Thousand Dollars($4OO,OOOeO0) required to meet the Current <br />Expenditures of the County Roads System during the year 1953e <br /> <br /> BE IT THEREFORE enacted by the Municipal Council of the Corporation of the <br /> <br />County of Essex as follows; <br /> <br /> 1. That it shall and may be lawful for the Corporation of the Co~uuty of Essex <br /> <br />to borrow from any Chartered Banks or Bank the sum of Four Hundred Thousand Dollars <br />($400,000.00) for the purpose aforesaid to meet the Current Expenditures of the <br />County Road System for the year 1953 by demand notes at the rate of ~'/,~ ~ ~ y~ <br />per cent per Annumt <br /> <br />2~ The warden and Treasurer of the County of Essex be and they are hereby <br />authorized to enter into necessary agreements to carry into effect the said loaue <br /> <br /> 3. That all and any Revenues of the Corporation are hereby charged with repayment <br /> <br />of all monies borrowed under the authority of this bylaw and the said chartered Banks <br />or Bank are hereby declared to have a lien upon all the said revenues until the loans <br />created under the authority of the said bylaw are fully satisfiede <br /> <br /> 4e That the Treasurer is hereby authorized and directed to apply as much of the <br />Revenues of the Corporation as may be necessary in payment of the obligations of the <br />corporation created as aforesaide <br /> <br /> passed in open Council this........ ~ of january, 1953, A~D. ~ <br /> <br /> · .............. ~......, .~.. ~ .... ,.~.,~T~' ......... <br /> warden <br /> <br /> I, C. A. Keeley, Clerk of the Corporation of the County of Essex, do hereby <br />certify that the foregoing is a true and correct copy of Byla~ Number 115~ read in <br />open Council of the Essex County Council the necessary times and fina!~: passed at <br />its january sessione <br /> <br /> Clerk o~he County of E ~.? <br /> <br /> <br />