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1181-54 RaiseALoan
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1181-54 RaiseALoan
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12/24/2012 10:29:01 AM
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7/13/2004 1:24:20 PM
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
1/22/1954
C - Council, Boards and By-laws - Department
Finance
C - Council, Boards and By-laws - Description
A bylaw to raise a loan to meet the expenditures of 1954.
C - Council, Boards and By-laws - Bylaw No
1181-54
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By-law
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A B~IAW OF THE COUNT~ OF ESSEX TO RAISE A LOAN TO MEET THE CURRENT <br />EXPENDITURES OF THE COUNTI OF ESSEX FOR THE tEAR <br /> <br /> WHEREAS, it has been deemed expedient and necessary to raise a loan of Three <br />Hundred Thousand Dollars~$3OO, OOOe00) required to meet the Current Expenditures <br />of the County of Essex for the year 1954e <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 ma~ be lawful for the Corporation of the County of Essex <br /> <br />to borrow from and chartered Banks or Bank, the sum of Three Hundred Thousand, <br />Dollars ($300,000eO0) for the purpose aforementioned to meet the current Expend- <br />itures for the year 1954 by demand note~ at the rate of (4~) Four and one-quarter <br />percent per annnme <br /> <br />2. That the Warden and Treasurer of the County of Essex be and the$ are hereby <br />authorized to enter into the necessary agreements to carry into effect the said loane <br /> <br /> 3e That all revenues of the Corporation are hereby charged with the repayment of all <br />monies borrowed under the authority of this bylaw and the said chartered Banks or Bank <br />are hereby declared to have a lien upon all revenues until this said loan under the <br />authority of this bylaw be full~ satisf~e~e <br /> <br /> 4e That Treasurer is hereby authorized and directed to apply so nmc~h of the <br />Revenues of the Corporation as may be necessary in payment of the obligations of the <br />corporation zmmdmm[ created as aforesaid~ <br /> <br /> Ail other bylaws inconsistent to this bylaw are hereby repealede <br /> <br /> in open ouno of A.D. <br /> <br /> Warden <br /> <br /> e Corporation of the County of Essex, do hereby <br />certify that the foregoing bylaw is a t~.,e and correct copy of Byla~ Number 1181 <br />passed in open Council by the Essex County Council at its january session, 1954e <br /> <br /> <br />
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