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BY -LAW NO. - 1252 00 <br />A BY -LAW OF THE COUNTY OF ESSEX TO RAISE A LOAN TO MEET THE CURRENT <br />EXPENDITURES OF THE COUNTY OF ESSEX FOR THE YEAR 19570 <br />Whereas, it has been deemed expedient and necessary to raise a loan <br />of Five Hundred Thousand ($500,000,00) Dollars required to meet the current <br />Expenditures for the County of Essex for the year 1957. <br />Be it therefore enacted by the Municipal Council of the Corporation of <br />the County of Essex to Borrow from the Chartered Bank or Banks, the sum of <br />Five Hundred Thousand ($500,000.00) Dollars for the purpose aforementioned <br />to meet the Current Expenditures for theyyear 1957 by demand notes at the rate <br />of Five and one- quarter (5- 1 4 %) percentum per annum. <br />7. That the Warden and Treasurer of the County of Essex be and they are <br />hereby authorized to enter into necessary agreements to carry into effect the <br />said loan. <br />3. That all revenues of the Corporation are hereby charged with the <br />repayment of all monies borrowed under the authority of this bylaw and the <br />saic charter Banks or Bank are hereby declared to have a lien upon all the <br />revenues until this said loan under the authority of this bylaw be fully satisfied. <br />4. That Treasurer is hereby authorized and directed to apply to much <br />of the revenues of the Corporation as may be necessary in payment of the obligations <br />of the Corporation created as aforesaid, <br />This Bylaw shall come into force and take effect as of the 1st day of <br />Janaury, 1957. <br />All other Bblaws inconsistent to this Bylaw are hereby repealed. <br />Passed in open Council this 18th day of January, 1957. <br />Warden. <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 1252 passed <br />in open Council by the Essex County Council at its January Session, 1957. <br />srk, Dt of Ewex, <br />