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BY-LAW NUMB-ER 1386 <br /> <br />A BY-LAW OF THE COUNTY OF ESSEX TO RAISE A <br />LOAN TO MEET THE CURRENT EXPENDITUiRES OF THE <br />C0~TY OF E~SEX FOR THE YEAR 1961. <br /> <br /> WHEREAS, it has been deemed expedienb and necessary <br />to raise a loan cf Five Hundred Thousand ($500,000.00) Dollars <br />required ko meet ~bhe current expenditures fc~, the County of Essex <br />for the year 1961. <br /> <br /> BE IT THt~EFOBE ENACTED by the Municipal Council <br />of the Corporation of the County of Essex to borrow from the <br />Chartered Bank or Banks, the sum of Five Hundred Thousand <br />($500,000.00) Dollars for the purpose aforementioned to meet the <br />current expenditures for the year 1961 by demand notes at the rate <br />of Five and Three-Quarter (5 3/4%) percentum per annum. <br /> <br /> 2~ That the Warden and Treasurer of the County of <br />Essex be and they are hereby authorized to enter into necessary <br />agreements to carry into effect the said loan. <br /> <br /> 3. That all revenues of the Corporation are here- <br />by charged with the repayment of all monies borrowed under the <br />authority of this by-law and the said charter Banks are hereby <br />declared to have a lien upon all the revenues until this said <br />loan under the authority of this by-law be fully satisfied. <br /> <br /> 4. That Treasurer is hereby authorized and direct- <br />ed to apply so much of the revenues of the Corporation as may be <br />necessary in payment of the obligations of Corpors. tion created <br />as aforesaid. <br /> <br /> This By-law shall come into force and tske effect <br />as of the 1st day of January, 1961. <br /> <br /> All other By-laws inconsistent to this By-law are <br /> <br />hereby repealed. <br /> Passed in open Council this/~day.~f January, !961. <br /> <br /> I~ C. A. Keeley, Clerk of the Corporati~o~the <br />County of Essex, do hereby certify that the fore~o~nE is A~.-true ~-~' <br />and correct copy of the By-law number 1356 passed in open <br />by the Essex County Council at its January session, 1961. ---. <br /> <br /> <br />