1451-62-Authorizing the Borrowing of Temporary Advances

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450 AUGUST SPECIAL SESSION , THE CORPORATION OF THE CM N OF 1 1 By -Law Number 1451 A BY -LAW AUTHORIZING THE BORROWING OF TM PORARY ADVANCES PENDING THE lASSINO OI A BY -LAW FOR THE ISSUANCE AND SALE OF DIES TURES TO RAISE THE SUMS REQUIRED ST TM WINDSOR SUBURBAN DISTRICT HIGH WHOOL BOARD FOR THE CONSTRUCTION AND EQUIPt NG OF THE NEW ADDITIONS TO THE HERMAN COLL& GIATE AND THE VINCENT MASSEY COLLMOIATE. WHEREAS the majority of the municipalities inehrded b ft Windsor Suburban High School District have requested the !.tsad of the Corporation of the County of Essex to raise the seas isod for the construction and equipping of the new addition to the lints Collegiate and the Vincent Massey Collegiate in the Wlndaor S&AN High School District; AND WHEREAS the Council of the Corporation of the Om* by resolution.has approved the said request; AND WHEREAS by Order dated Monday the 2 M day of lk 1962, The Ontario Municipal Board, pursuant to Section N of To Ontario Municipal Board Act. Chapter 274. R.S.O. 19W has appeoerl the construction and equipment by The Windsor Suburban D4b*t" School Board of an addition to the Vincent Massey Collegiate brtlMr at a cost of $250,000.00, and by Order dated Tuesday. the 50 ay d June, 1962, The Ontario Municipal Board pursuant to Section it at TM Ontario Municipal Board Act, Chapter 274. R.S.O. 1960, has ap "M the construction and equipment by The Windsor Suburban DigM High School Board of an addition to the Herman Collegiate bohnte at a cost of $370,000.00, and has authorised the Corporstias d Hr County of Essen for such purposes to pus All requwte By-im fades ing By -laws providing for temporary advances and for the rose and sale of debentures, provided that the term of the debentures " art exceed twenty years (20). AND WHEREAS it is deetned expedient to barrow, as tearpm advances pending the issue and sale of debentures, the am of !i'J OR 0 for the purpose aforesaid.