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1445-62-Authorizng Grant to Salvation Army
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1445-62-Authorizng Grant to Salvation Army
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6/11/2012 9:26:55 AM
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JUNE REGULAR 9ESSTON an <br />THE CORPORATION OF TAE OOUNT! or lag= <br />Debenture By -Law Number 1445 <br />A BY -LAW AUTHORIZING A GRANT IN THE AMOUNT <br />OF $350,000.00 TO SALVATION ARMY GOVERNING <br />COUNCIL CANADA EAST, TOWARDS THE CAPITAL <br />COSTS OF THE CONSTRUCTION OF THE NEEDED <br />ADDITION TO THE SALVATION ARMY GRACE HOS- <br />PITAL IN THE CITY OF WINDSOR, PAYABLE OVER A <br />PERIOD OF TEN (10) YEARS AND TO AUTHORIZE <br />THE ISSUANCE OF DEBENTURES IN THE AMOUNT <br />OF $350.000.00. <br />WHEREAS Subsection 35 of Section 377 of The Mmnid* Act, <br />being R.S.O. 1960, Chapter 249, and amendments theret% antlimbm <br />Councils of all municipalities to pass by -laws for granting aid for the <br />erection establishment, maintenance or equipment d public hospitab <br />Old to issue debentures therefor; <br />AND WHEREAS it is deemed expedient to grant to the SaNation <br />AMY Governing Council Canada East the sum of $350ti000.0% PAY" <br />In ten (10) equal annual instalments of 535,000.00 and to hens debew <br />tares therefor, without interest, payable annually in the amanats per <br />annum shown in Schedule "A" attached to this by -law; <br />AND WHEREAS it is deemed expedient to M&e the pftew <br />of the said debt repayable in annual instalments during the period of <br />ten (10) Years, commencing in the year 1963 and ending In the Yost <br />1972; <br />AND WHEREAS the said grant is designated for the eapita) <br />Costs of the Construction of the needed addition to The Saivatim May <br />Grace Hospital in the City of Windsor. <br />NOW THEREFORE THE COUNCIL OF THE CORPORA710H <br />OF THE COUNTY OF ESSEX ENACTS AS FOLLOWS: -- <br />I. For the purpose afaeeoaW the Comma of rite Corpaat m at <br />
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