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BY-LAW NUMBER 1~7! <br /> <br />A BY-LAW OF THE COUNTY OF ESSEX TO RAISE A LOAN <br />TO MEET THE CURRENT EXPENDITURES OF THE COUNTY <br /> OF ESSEX FOR THE YEAR 1963 <br /> <br /> WHEREAS, it has been deemed expedient and necessary <br />to raise a loan of Five Hundred Thousand Dollars ($500,000.00) <br />required to meet the current expenditures for the County of <br />Essex for the year 1963. <br /> <br /> BE IT THEREFORE ENACTED by the Municipal Council of <br />the Corporation of the County of Essex to borrow from the <br />chartered bank or banks the sum of Five Hundred Thousand <br />Dollars ($500,000.00) for the purpose afore-mentioned to meet <br />the current expenditures for the year 1963 by demand notes <br />at the rate of Five and Three-Quarters per centum (5~%) per <br />annum. <br /> <br /> 2. That the Warden and Treasurer of the County of <br />Essex be and they are hereby authorized to enter into necessary <br />agreements to carry into effect the said loan. <br /> <br /> 3. That all and any revenues of the Corporation are <br />hereby charged with repayment of all monies borrowed under the <br />authority of this by-law and the said chartered bank or banks <br />are hereby declared to have a lien upon all the said revenues <br />until the loan created under the authority of this by-law is <br />fully satisfied° <br /> <br /> ~. That the Treasurer is. hereby authorized and <br />directed to apply so much of the revenues of the Corporation <br />may be necessary in payment of the obligations of the Corpora <br />tion created as aforesaid. <br /> <br /> This by-law shall come into force and take effect as <br />of the 1st day of January, 1963. <br /> <br /> All other by-laws inconsistent of this by-law are <br />herey repealed. <br /> Passed in open Council this ~/~ay of January, <br />1963. <br /> <br />CLERK'S CERTIFICATE <br /> <br /> I, C. A. Keeley, Clerk of the Corporation of the <br />County of Essex, do hereby certify that the foregoing is a <br />true and correct copy of by-law 1~71 of the Emsex County <br />Council. <br /> <br /> ...... <br /> <br /> <br />