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BY-LAW NUMBER 1475~ <br /> <br />A BY-LAW OF THE COUNTY OF ESSEX TO RAISE A LOAN TO <br />MEET THE CURRENT EXPENDITURES OF THE SUN PARLOR HOME <br />FOR SENIOR CITIZENS FOR THE YEAR 1963. <br /> <br /> WHEREAS it has been expedient and necessary to raise <br />by way of a loan the sum of Seventy-five Thousand Dollars <br />($75,000.00) required to meet the current expenditures of the <br />Sun Parlor Home for Senior Citizens during the year 1963o <br /> <br /> BE IT THEREFORE ENACTED by the Municipal Council of <br />the Corporation of the County of Essex and it is hereby <br />enacted: <br /> <br /> 1. That it shall and may be lawful for the Corporation <br />of the County of Essex to borrow from any chartered bank or banks <br />the sum of Seventy-five Thousand Dollars ($75,000.00) for the <br />urpose afore-mentioned to meet the current expenditures of the <br />un Parlor Home for Senior Citizens for the year 1963 by demand <br />notes at the rate of Five and Three-Quarters per centum (5~%) <br />per annum. <br /> <br /> 2. The Warden and Treasurer of the County of Essex be <br />and they are hereby authorized to enter into agreements to carry <br />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 directed <br />to apply as much of the revenues of the Corporation as may be <br />necessary in payment of the obligations of the Corporation created <br />aforesaid. <br /> <br /> All other by-laws inconsistent to this by-law are hereby <br />repealed. <br /> <br /> This by-law shall come into force and take effect as of <br />the 1st day of January, 1 ~ <br /> Passed this //~~day of January, 1963 in open Council. <br /> <br />~.LERK' S CERTIFICATE <br /> <br /> I, C. A. Keeley, Clerk of the Corporation of the County <br />of Essex, do hereby certify that the foregoing is a true and <br />correct copy of by-law number 1~75 read in open council the <br />necessary times and finally passed at its January, 1963 s~ssion. <br /> <br /> <br />