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• BY rAW pro. 1273 9 0 <br />A BY -LAW OF THE COUNTY OF ESSEX TO RAISE A LOAN TO MEET THE <br />CURRENT EXPENDITURES OF THE COUNTY OF ESSEX ROAD SYSTEM FOR <br />THE YEAR 1958. <br />Whereas it has been expedient and necessary to raise by way of a loan the <br />sum of Seven Hundred and Fifty Thousand Dollars ($750,000.00) required to meet the <br />current Expenditures of the County of Essex Road System during the year 1958. <br />Be it therefore enacted by the Municipal Council of the Corporation of the <br />County of Essex as follows; <br />1. That it shall and may be lawful for the Corporation of the County of Esser <br />to borrow from any chartered Bank or Banks the sum of Seven Hundred and Fifty Thousand <br />Dollars ($750,000.00) for the prupose aforementioned to meet the Current Expenditures <br />of the County Road System for the year 1958 by demand notes at the rate of Five and <br />one quarter (5j %) percentum per annum. <br />2. The Warden and Treasurer of the City of Essex be and they are hereby <br />authorized to enter into agreements to carry into effect the said loan. <br />3. That all and apy revenues of the Corporation are hereby charged with re- <br />payment of all monies borrowed under the authority of this By -law and the said Chartered <br />Bank or Banks are hereby declared to have a lien upon all the said revenues until the <br />loans created under the authority of the said By -laws are fully satisfied. <br />4. That the Treasurer is hereby authorised and directed to apply as much of <br />the revenues of the Corporation as may be necessary in payment of the obligations of <br />the Corporation created aforesaid. <br />All other By - laws Inconsistent to this bylaw are herby repealed. <br />This By -law shall cane into farce and take effect as of the lst day of <br />January, 1958. <br />Passed this day of anuary, 1958 in open council, <br />I, C. A. Keeley, Clerk of the 6el"poration of the 0 ounty of Essex, do hereby <br />certify that the foregoing is a true and correct copy of By -law Number 1273 read in the <br />open Council of the County of Essex the necessary times and finally passed at its <br />January Session, 1958. <br />�f0. ss . <br />