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1227-56 RaiseALoanForRoads
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1227-56 RaiseALoanForRoads
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12/24/2012 10:29:02 AM
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7/8/2004 2:39:00 PM
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
1/20/1956
C - Council, Boards and By-laws - Department
Finance
C - Council, Boards and By-laws - Description
A bylaw to raise a loan for the road system.
C - Council, Boards and By-laws - Bylaw No
1227-56
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By-law
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*YIA UM 1227. 09 <br />A BYLAW OF THE COUNTY OF ESSEX TO RAISE A LOAN TO MEET THE CURRENT EXPENDITURES <br />R <br />OF THE COUNTY OF ESSEX ROAD SYSTEM FOR THE YEAR 1956. <br />Woereas it has been expedient and necessary to raise by way of a loan the sum <br />of Seven Hundred and FiftylDollars($750,000.00) required to meet the Current <br />Expenditures of the County of Essex Road System during the year 1956. <br />Be it therefore enacted by the Municipal Council of the Corporation of the County <br />of Essex as follows; <br />1. That it shall and may be lawful for the Corporation of the County of Essex to <br />borrow from any Chartered Bank or Ranks the sum of Seven Hundred and Fifty Thousand <br />Dollars($750,000.00) for the purpose aforementicned to meet the Current Expehditures <br />of the County Road System for the year 1956 by demand notes at the rate of Four and <br />one- quarter(4 ) percentum per annum. <br />2. The Warden and Treasurer of the County of Essex be and they are hereby authorized Jal <br />to enter into agreements to carry into effect the said loan. <br />3. That all and any revenues of the Corporation are hereby charged with repayment <br />of all monies borrowed under the authority of this Bylaw and the said Chartered Bank <br />or Banks are hereby declared to have a lien upon all the said revenues until the het <br />loans created under the authority of the said Bylaw are fully satisfied. <br />4. That the Treasurer is hereby authorized and directed to apply as much of the <br />revenues of the Corporation as may be necessary in payment of the obligations of the <br />Corporation created aforesaid. <br />All other Bylaws inccnaistent to this b$law are hereby repealed. <br />This Bylaw shall come into force and take effect as of the 1st day of January, <br />1956. <br />Passed this 20th day of January, 1956, in open Council. <br />• •...• ..Warden <br />� Certificate. <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 Bylaw Number 1227 read <br />in the open Council of the County of Essex the necessary times and finally passed a <br />at its January Session, 1956. <br />�lerk" the Ca <br />
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