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1494-63-Raise Loan to Meet Expenditures of County Rds
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1494-63-Raise Loan to Meet Expenditures of County Rds
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442 SEPTEMBER SPECIAL SESM094 <br />By -Lew Number 1494 <br />A BY -LAW OF THE COUNT! OF ESSEX TO RAMIE A <br />LOAN TO MEET THE CURtLEN T ERPENLI!TUliaB Or <br />THE COUNTY OF ESSEX ROAD SYSTEM FOB I= <br />YEAR 1985. <br />WHERF -kS it has been expedient and neemmuY to rain by sr[ <br />of a supplementary loan the sum of Five Hundred Tbove ad Ddw <br />($500.000.00) required to meet the current expenditures at the On* <br />of Essex Road System during the year 1963. <br />BE IT THEREFORE ENACTED by the Municipal Cowell d It <br />Corporation of the County of Essex as follows: <br />1. That it shall and maY be law W for the Orparlds d <br />the County of Essex to bones ttden a chartered bank or bales te <br />sums of Five Hundred Thousand Dollars ($5500.000.00) hr So NAM <br />aforementioned to meet the current expenditures Of the Cleat r %W <br />Sv%tem for the year 1963 by demand rotes at the rate of PM ni <br />ThreeQuarters per centum (5%%) per annum <br />?. The Warden and Treasurer ol the Couab of Mons 1*ni <br />they an bereIV authorised to enter tato 49VOGINGRIS 1s OM iM <br />etfect the said supplementary loan. <br />& That all and any revenues of the Corpom"m w bend <br />charged with tepaymeat of all monies borrowed under tb sWMo * <br />of this by -law and the said chartered bank or banks are bnbir dsctnai <br />to have a lien upon all the said revemm until the <br />loan created under the authority of this BY-law is 10ft sa 4ft <br />A. That the Treasurer Is haeeby authaeind aid dbwm b <br />apply an much of the revenues of the C0rP0rabQ as My b srernrnr! <br />in payment of the obligations Of the CbrVOratioa creased shored <br />11ds ft kw shall emw Into laces wed tabs a!!bt as d te <br />
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