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JANUARY REGULAR SEMON a <br />By -Lew Number 1470 <br />A BY -LAW OF THE COUNT? OF ESSEX TO RAISE A <br />LOAN TO MEET THE CURRENT EXPENDITURES OT <br />THE COUNTY OF ESSEX ROAD SYSTEM FOR THE <br />YEAR 1965. <br />WHEREAS it has been expedient and me -wary to raise by way <br />of a loan the sum of Seven Hundred and Fifty Thousand Dollars <br />($750,000.00) required to meet the current expenditures of the County <br />of Essex Road System during the year 1963. <br />BE rr THEREF`ORE ENACTED by the Municipal cones at <br />the Corporation of the County of Essex as follows: <br />1. That it shall and may be lawful for the Corporatios of the <br />County of Essex to borrow from an chartered bank or banks the surer <br />of Seven Hundred and Fifty Thousand Dollars (VMOOD.OD) for the <br />purpose aforementioned to meet the current expenditures of the County <br />Road System for the year 1963 by demand notes at the rate of Five and <br />7b ree- Quartem per centum (5%%) per annwa. <br />2. The Warden and Treasurer of the County of Essex be and <br />they are hereby authorised to enter into agreements to carry bito <br />effect the said loan. <br />r <br />3. That all and any revenues of the Corporation are her sio <br />charged with repayment of all monies borrowed under the authority <br />of this by -law and the said chartered bank or bunks am hereby declared <br />to have a lien upon all the said revenues until the loan esestod eader <br />the authority of this by -law is fully satisfied <br />4. That the Treasurer is hereby authorised and direeted to app <br />as much of the revenues of the Corporation as okay be aeesuary in <br />payment of the oblia&Uons of the Corporation created aforesaid <br />