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1365-60 RaiseALoan
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1365-60 RaiseALoan
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12/24/2012 10:29:03 AM
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
8/17/1960
C - Council, Boards and By-laws - Department
Finance
C - Council, Boards and By-laws - Description
A supplementary bylaw of essex to raise a loan to meet the current expenditures of the county of essex road system for the year 1960.
C - Council, Boards and By-laws - Bylaw No
1365-60
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By-law
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A SUPPLEMENTARY BY-LAW OF THE COUNTY OF ESSEX <br />TO RAISE A LOAN TO MEET THE CURRENT EXPENDITURES <br />OF THE COUNTY OF ESSEX ROAD SYSTEM~ F(R THE YEAR <br /> 1960. <br /> <br /> WHEREAS it has been expedient and necessary to raise by way of a <br />loan the sum of Five Hundred Thousand Dollars ($500,000.00) required to <br />meet the current expednitures of the County of Essex Road System during the <br />year 1960. <br /> <br /> BE IT THEREFORE enacted by the Municipal Council of the Corporatic~ <br />of the County of Essex as follows: <br /> <br /> 1. That it shall and may be lawful for the Corporation of the County <br />of Essex to borrow fr~ any chartered Bank or Banks the sum of Five Hundred <br />Thousand Dollars ($500,000.00) for the purpose aforementioned to meet the <br />Current Expenditures of the County Road System for the year 1960 by demand <br />notes at the rate of Five and Three-quarter(5 3/4%) per centum per annu~. <br /> <br />2. The Warden and Treasurer of the County of Essex be and they are <br />hereby authorized to enter into agreements to csrry into effect the said loan. <br /> <br /> 3. That all and an~ revenues of the Corporation are hereby charged <br />with repayment of all monies borg, owed under the authority of this By-law and the <br />lien upon all the said revenues until the loans created under the authority of <br />the said By-laws are fully satisfied. <br /> <br /> 4. That the Treasurer is hereby anthc~ized and directed to apply as <br />much of the revenues of the Corporation as ma~ be necessary in payment of the <br />obligations of the Corporation created aforesaid. <br /> <br /> This By-law shall ceme into force and take effect as of the 15th <br />day of August, 1960. <br /> <br /> Passed this 17th day of August, 1960 in open Council. <br /> <br /> I, C. A. Keeley, Clerk of the Corporation of the County of <br />Essex do hereby certify that the foregoing is a true and correct copy of <br />By-law Number/3~ read in the open Co~uucil of the County of Essex the <br />necessary times and finally passed at its August Session,· 1960. <br /> <br /> <br />
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