1182-54 RaiseALoan - Laserfiche WebLink

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t~LAW ,N,N,N,N~ER ~82o A B~LAW OF THE COUNTY OF ESSEX TO RAISE A LOAN TO MEET THE CURRE~£ EXPENDITURES OF THE COUNTY OF ESSEX ROAD SxSTEM FOR TEE YEAR 1954. WP~P~EAS, it has been expedient and necessary to raise by wa~ of a loan the sum of Four Hundred Thousand Dollars($4OO, OOOeO0) required to meet the Current Expenditures of the County Roads System during the year 1954, BE IT THEREFORE enacted by the Municipal Council of the Corporation of the C~nty of Essex as follows; 1. That it shall and mm~ be lawful for ~he corporation of the County of ESSEX to borrow from any chartered Banks or Bank the sum of Four Hundred Thousand DoLlars, ($400,000e00) for the purpose aforesaid to meet the current Expenditures of the County Road ~ystem for the year 195~ by demand notes at the rate of(4~!%)Four and one-quarter percent per Annume 2. The Warden and Treasurer of the County of Essex be and they are hereby authorized to enter into agreements to carry into effect the said loan, 3, That all and any revenues of the corporation are hereby charged with repayment of all monies borrowed under the authority of this bylaw and the said Chartered Banks or Bank are hereby declared to have a lien upon all the said revenues until the loans created under the authority of the said Bylaw are fully satisfied. 4. That the Treasurer is hereby authorized and directed to apply as much of the Revenues of the Corporation as may be necessary in payment of the obligations of the Corporation created as aforesaid, Ail other bylaws inconsistent to this Byalw are hereby repealede I, C~. Keeley~ Clerk of the Corporation of the County of Essex, do hereby certify that the foregoing is a true and correct copy of Bylaw Number 1182 read in open Council of the Essex County Council the necessary times and finally passed at its january Session, .... cler~~e ~ty of~sEXe /