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JANUARY REL W AR SESSION, 19E1 a <br />By -Law Number 1387 <br />A BY -LAW OF THE COUNTY OF ESSEX TO RAISE <br />A LOAN TO MEET THE CURRENT EXPENDITURES <br />OF THE COUNTY OF ESSEX ROAD SYSTEM FOR <br />THE YEAR 1%1. <br />WHEREAS it has been expedient and necessary to raise by <br />way of a loan the sum of Seven hundred and Fifty Thoasas d Dollars <br />($750,000.00) required to meet the current expenditures of the Cw&uq <br />of Essex Road System during the year 1961, <br />BE IT THEREFORE enacted by the Municipal Covndl of the <br />Corporation of the County of Essex as follow.- <br />1. That it shall and may be lawful for the Corporation of the <br />County of Essex to borrow from any chartered Bank or Banks the <br />sum of Seven Hundred and Fifty Thousand Dollars ($750,000,00) far <br />the purpose aforementioned to meet the current expenditures of the <br />County Road System for the year 1961 by demand notes at the rate et <br />Five and Three- quarter (5 %%) per centum per annuls, <br />2. The Warden and Treasurer of the County d be and <br />they are hereby authorized to enter into agreements to eery into <br />effect the said loan. <br />S. That all and any revenues of the Corporatioa are herft <br />charged with repayment of all monies borrowed under the authority <br />of this By -law and the lien upon all the acid revenues until the loafs <br />created under the authority of the said Bylaws are fully satiafisd, <br />4. That the Treasures to hereby authorised and dlneted to aaNy <br />as much of the revenues of the Corporation as am be aaesseary in <br />payment of the obligations of the Corporation ereoted aforesaid. <br />All other By-laws inconsistent to this bylaw we ies.64 rsp*& Mj <br />