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1445-62 $350KGrantSalvationArmy
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1445-62 $350KGrantSalvationArmy
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12/24/2012 10:29:04 AM
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
6/20/1962
C - Council, Boards and By-laws - Department
Finance
C - Council, Boards and By-laws - Description
A bylaw authorizing a grant in the amount of $350K to Salvation Army Governing Council Canada East, towards the capital costs of the construction of a needed addition.
C - Council, Boards and By-laws - Bylaw No
1445-62
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By-law
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T!~ CORPORATION OF TI~2~ COUntY OF ESS~ <br /> <br />A by-law authorizing a grant in the amount of $350,000.00 <br />to Salvation Ar~ Governing Council Canada East, towards <br />the capital costs of the construction of the needed addition <br />to The Salvation Ar~f Grace Hospital in the City of Windsor, <br />payable over a period of t~n (10) years and to authorize the <br />issuance of debentures in the amount of $350,000.00. <br /> <br /> WHEREAS Subsection 35 of Section 377 of The Municipal <br />Act, being R.S.O. 1960, Chapter 229, and amendments thereto, authorizes Councils <br />of all municipalities to pass by-laws for granting aid for the erection~estab- <br />lishment, maintenance or equipment of public hospitals and to issue debentures <br />therefor; <br /> <br /> AND W~K~tF~S it is deemed expedient to grant to the <br />Salvation Ar~f Governing Council Canada East the sum of $350,000.00, payable <br />in ten (10) equal annual instalments of $3~,000~00 and to issue debentures <br />there£o~, without interest, payable annually in the amounts per annum shown <br />in Schedule "A" attached to this <br /> <br /> A~DP~EREAS it is deemed expedient to make the principal <br />of the said debt ~epaya~le in annual instalments during the period of ten (10) <br />years, commencing in the year 1963 and ending in the year 1972~ <br /> <br /> AND WHEREAS the said grant is designated for the capital <br />costs of the construction of the needed addition to The Salvation An%v Grace <br />Hospital in the City of Windsor. <br /> <br /> NOW THEREFORE THE CO~CIL OF TI~ CORPORATION OF THE <br />COUNTY OF ESSEX ENACTS AS FOLL05~S:- <br /> <br />1. For the purpose aforesaid the Council of the Corporation of the <br /> <br />County of Essex shall grant to Salvation Army Governing Council Canada East the <br />sum of $350,000.00 and shall issue debentures therefor in sums of $35,000.00 each. <br /> <br /> Each debenture shall be payable without interest as set out in the <br />respective years in Schedule "A" attached to this ~y-%&w. <br /> <br />3.~ The debentures shall be dated the 30th day of September, A.D. 1962 <br /> <br />and shall be made payable in ten (10) annual instalments on the l~th day of <br /> <br />December in each of the years 1963 to 1972, both inclusive, and the respective <br /> <br /> <br />
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