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A BY L~W OF THE COU~YfY OF ESSEX TO RAISE <br />A LOAN TO MEET THE CU~2ENT EXPENDITL~ES OF <br />THE COUNTY OF ESSF~Y FOR THE YEAR. 1960 <br /> <br /> ~REAS, it has been deemed expedient and necessary to <br />raise a loan of Five Hundred Thousand ($~OO, 000.00) Dollars requir- <br />ed to meet the current Expenditures for the County of Essex for the <br />year 1960. <br /> <br /> BE IT THEREFORE ENACTED by the M~micipal Council of the <br />Corporation of the County of Essex to borrow from the Chartered Bank <br />or Banks, the sum of Five Hundred Thousand (~00,000.00) Dollars for <br />the purpose aforenentioned to meet the Current Expenditures for the <br />year 1960 by demand notes at the rate of Five ~~i <br /> <br />~ snd Three-quarter (5 3/~%) percentum per aunmm, <br /> <br /> 2. That the Wardeu and Treasurer of the County of Essex <br /> <br />be and they are hereby authorized to enter into necessary agreements <br />to carry into effect the said loan. <br /> <br /> 3. That all revenues of the Corporation are hereby charged <br />,~lth the repayment of sll monies borrowed ~nder the authority of this <br />by-law and the said charter Banks are hereby declared to have a lien <br />upon all the revenues until this said loan under the authority of this <br />by-law be fully satisfied~~ <br /> <br /> h. That Treasurer is hereby authorized and ~irected to apply <br />so much of the revenues of the Corporation as may be necessary in pay- <br />ment of the obligations of Corporation created as aforesaid. <br /> <br /> This By-law shall come into force and take effect as of the <br />1st day of January, 1960. <br /> <br /> All other By-laws inconsistent to this By-law are hereby re- <br /> <br />pealed. <br /> Passed in open Council this.~ ..~jday of January, 1960. <br /> <br /> I, C. A. Keeley~ Clerk of the Corporation of the County of <br /> <br />Essex~ do hereby certify that the foregoing is a true and correct copy <br />of the By-law l~umber/.~...~.passed in open Council by the Essex County <br />Council at its January Session, 1960. ~~ <br /> <br /> <br />