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THE CORPORATION OF THE COUNTY OF ESSEX <br /> <br />DEBENTURE BY-LAW ~fMBER /~7 <br /> <br />A By-law authorizing a grant in the m~ount of $350,000.00 <br />to the Leamington District Memorial Hospital payable over <br />a period of ten (10) years and to authorize the issuance <br />of debentures in the amount of $350,000.00. <br /> <br /> WHEREAS Sub-section 29 of Section 386 of The Municipal <br />Act being R.S.0. 1950, Chapter 243 and amendments thereto authorizes <br />Councils of all municipalities to pass by-laws for granting aid for the <br />erection, establishment, maintenance or equipment of public hospitals <br />and to issue debentures therefor~ <br /> <br /> AND W~IEREAS it is deemed expedient to grant to the <br />Leamington District Memorial Hospital the sum of $350,000.00 payable in <br />ten (10) equal annual instalments of $35,000.00 and to issue debentures <br />therefor, without interest~ payable annually in the a~ounts per annum <br />shown in Schedule "A" attached to this by-law; <br /> <br /> AND WHEREAS it is deemed expedient to make the principal <br />of the said debt repayable in annual instalments during the period of ten <br />(10) years commencing in the year of the issue of such debentures. <br /> <br /> NOW THEREFORE THE COUNCIL OF THE CORPORATION OF ~ COUNTY <br />OF ESSEX ENACTS AS FOLLOWS:- <br /> <br />1. For the purpose aforesaid the Council of the Corporation of <br /> <br />the County of Essex shall grant to the Leamington District Memorial <br />Hospital the sum of $350~000.00 and shall issue debentures therefor in <br />sums of $35~000.00 each. <br /> <br />2. Each debenture shall be payable without interest as set <br /> <br />out in the respective years in Schedule "A" attached to this by-law. <br /> <br />3. The debentures shall be dated the 30th day of September, <br /> <br />A.D.~ 1960 and shall be made payable in ten (10) annual instalments on <br />the 15th day of December in each of the years 1960 to 1969, both inclusive~ <br />and the respective amount of principal payable in each of the said years <br />shall be the amount so designated in Schedule "A" attached to and forming <br />part of this by-law. <br /> <br />4. The said debentures when issued shall be delivered to the <br /> <br /> <br />