1679-67-Raise Supplementary Loan to Meet Expenditures

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SEPTEMBER- OC - MBER SPECIAL SESSION, 1967 709 By -Laws Supplementary By -Law Number 1679A A BY -LAW OF THE COUNTY OF ESSEX TO RAISE A SUPPLEMENTARY LOAN TO MEET THE CURRENT EXPENDITURES OF THE COUNTY OF ESSEX FOR THE YEAR 1967. WHEREAS it has been deemed expedient and necessary to raise a loan of Two Hundred and Fifty Thousand Dollars ($250,000.00) required to meet the current expenditures for the Cowrty of Ease= for the year 1967. BE 1T THEREFORE enacted by the Municipal C=wn of the Corporation of the County of Essex as follows: I. That it shall and may be lawful for the Corporation of the County of Essex to borrow from the chartered bank or banks the sum Of Two Hundred and Fifty Thousand Dollars ($250,000.00) tow the purpose aforementioned to meet the current expenditures for the year 1967 by demand notes at the rate of Five and Three-Quarter (5%%) Per centum per annum. 2. That the Warden and Treasurer of the County o[ Essrx be and they are hereby authorized to enter into necessary agreements to carry into effect the said loan. 3. That all and any revenues of the Corporation are hereby charged with payment of all monies borrowed under the authority of this by -law and the said chartered bank or banks are hereby declared to have a lien upon all the said revenues until the kMn created undat the authority of this by -law is fully satisfied. 4 That the Treasurer is hereby authorised and directed to apply so much of the revenues of the Corporation as may be wcesasry in payment of the obligations of the Corporation created as aforesaid This By -law shall come into fame and take effect as of the 1st day of October, 1967. Passed in open Council this 18th day of October, 196T. 1st reading — October 18, 1967. 2nd reading— October 16, 1967 3rd reading - -October 18, 1967. JOHN GEORGE, Warden C. A. KEELEY, perk