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JANUARY REG ULAR SESSION, 1967 103 <br />By -Law Number 1678 <br />A BY -LAW OF THE VOUNTY OF VI4SXX TO R SIC A <br />LOAN TO MEET THE CURRENT EXPENDITURES OF <br />THE COUNTY OF ESSEX ROAD SYSTEM FOR THZ <br />YEAR 1967. <br />WHEREAS it has been expedient and necessary to raise by wapr <br />of a loan the sum of nine hundred and fifty thousand dollars ($950,000.) <br />required to meet the current expenditures of the Co" of Essex Rod <br />System during the year 1967- <br />BE IT THEREFORE enacted by the Municipal Council of the <br />Corporation of the County of Essex as follows: <br />1. That it shall and may be lawful far the Corporation Of the <br />County of Essex to borrow from a chartered bank or banks the sum of <br />nine hundred and fifty thousand dollars ($950,000.00) for the purposes <br />aforementioned to meet the current expenditures of the County Road <br />System for the year 1967 by demand notes at the rate of six per eentwu <br />(6 %) per annum. <br />2. The Warden and Treasurer at the County d Essex be and <br />they are hereby authe=ed to enter into agreements to natty into <br />effect the said loan. <br />3. That all and any revenues et the Coenonstiow WO bereby <br />charged with repayment of all monies borrowed under the authority <br />of this by -law and the said chartered bank or banks are hereby declared <br />to have a lien upon all the said revenues until the loan created under <br />the authority of this by -Law is fully estistiad. <br />4. That the Treasurer is hereby authorised and diverted to apptr <br />as much of the revenues at the Corporation as may be necessary W <br />payment of the obligations d the Corporatim Created atoresaid, <br />All other by -lawn Inconsistent to this tV-kw an baeelgr rapeabd. <br />This by -law shall emu into torts and tab offset as d the let <br />Any of January, 1967. <br />Finally passed In open Council this Uth day at January, 1"I <br />JOHN GEORGA Wandsn C A. JUMM ;lf, C306 <br />