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1550-65-Raise Loan to Meet Expenditures for Rds
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1550-65-Raise Loan to Meet Expenditures for Rds
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6/15/2012 10:19:32 AM
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JANUARY REGULAR 3E98IdIlt, 198 !�! <br />By -Law Number 1550 <br />A BY -LAW OF THE COUNTY OF ESSEX TO ZAZW A <br />LOAN TO MEET THE CURRENT EXIPENDITURM OF THi <br />OOUNTY OF ESSEX ROAD SYSTEM FOR THE YFAi Uft <br />WHEREAS it has been expedient and neeesaary tan raise by wj4 <br />of a loan the sum of Nine Hundred and Fifty Thousand Dollars ($M- <br />000.00) required to meet the current expenditures of the Cwnb d <br />Enex Road System during the year 1965. <br />BE 1T THEREFORE ENACTED by the 1t(u=OW Caved d the <br />Corporation of the County of Essex as follows: <br />1. That it shall and may be lawful for the Ceeporatias of the <br />County of Essex to borrow from a chartered bank or banks the s® d <br />Nine Hundred and Fifty 17nousand Dollars (=950,000.00) tar the par - <br />pose aforementioned to meet the current expenditures at the County <br />Road System for the year 1965 by demand notes at line rate d Five <br />and Three - quarters per centum (5%%) per anrn uta. <br />2. The Warden and Treasurer of the Cbmrty of Mom be and <br />OW arse hereby authorized to enter into agreements to carry into effect <br />the said loan <br />3. That all and any revenues d the Corporatim are bereby <br />charged with repayment of all monies borrowed under the authmty <br />of this by-law and the said chartered bank or banns are bereby der. <br />Glared to have alien upon all the said revenues until the ban create} <br />under the authority of this by -law is fully satistled <br />4 That the 'Measurer is hereby audweiaad and dtiractsd to <br />apply as much of the revenues at the Corporation as may is asea nw, <br />in payment of the obligations of the Corporation created alanssid <br />All other by -laws Inconsistent to this by -law an basely repealed <br />This by -law shall emne into force and take effaet as of the 1st <br />dsy of January, 1965. <br />MED CADA. Warden G A. XEELSY. Cu ft <br />
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