1224-55 RaiseALoanforRoads - Laserfiche WebLink

Home Browse Search

BYLAW r ER 22 LA 1 4 A BYLAW OF THE COUNTY OF ESSEX TO RAISE A SUPPLEMENTARY LOAN TO MEET THE CURRENT EXPENDITURES OF THE COUNTY OF ESSEX ROAD SYSTEM FOR THE YEAR 1955. WHEREAS,, it has been xpe the nt and necessary to raise a supplementary loan in 4 ,. &". tix the sum of Three HundrediThuusand($300.,000.00) Dollars required to meet the Current Expenditures of the County Road System during the year 1955e BE IT THEREFORE enacted by the Municipal Council of the Corporation of the County of Essex as follows; 1. That it shall and may be lawful for the Corporation of the County of Essex J ". to borrow from any Chartered Banks or Bank the sum of Three Hundre housand ($3 *Vp00,00) Dollars for the aforesaid purpose itf3 meet the Current Expenditures of the Essex County Road System for the year 1955 by demand notes at the rate of Four and one- quarter(4 percentum per annum, 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 or 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 1 11 the authority of this Bylaw are fully satisfied, !t. That the Treasurer is hereby authorized and directed to apply as Mauch of the revenues of the Corporation as may be necessary in payment of the obligations of the Corporation created aforesaid, Passed this I .. J . ..d.ay of December, 1955, in open Council, ` Warden CERTIFICATE I, C. A. 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 1224 read in the open Council of the County of Essex the necessary times and finally passed at its December Session, 19559 �1 of the County , of -Esse ,