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BY-LAW NUMBER 1606 <br /> <br />A BY-LAW OF THE COUNTY OF ESSEX TO RAISE A LOAN TO MEET THE CURRENT <br />EXPENDITURES OF THE COUNTY OF ESSEX FOR THE YEAR 1966. <br /> <br /> WHEREAS it has been deemed expedient and necessary to <br />raise a loan of Seven Hundred Thousand Dollars ($700,000.00) required <br />to meet the current expenditures for the County of Essex for the <br />year 1966. <br /> <br /> BE IT THEREFORE ENACTED BY THE Municipal Council of the <br />Corporation of the County of Essex as follows: <br /> <br /> 1. That it shall and may be lawful for the Corporation <br />of the County of Essex to borrow from the chartered bank or banks <br />the sum of Seven Hundred Thousand Dollars ($?00,000.00) for the <br />purpose aforementioned to meet the current expenditures for the <br />year 1966 by demand notes at the rate of Five and Three Quarters <br />per centum ($~%) per annum. <br /> <br /> 2. That the Warden and Treasurer of the County of Essex <br />be and they are hereby authorized to enter into necessary agreements <br />to carry into effect the said loan. <br /> <br /> 3. That all and any revenues of the Corporation are <br />hereby charged with payment of all monies borrowed under the authority <br />of this by-law and the said chartered bank or banks are hereby <br />declared to have a lien upon all the said revenues until the loan <br />created under the authority of this by-law is fully satisfied. <br /> <br /> 4. That the Treasurer is hereby authorized and directed <br />to apply so much of the revenues of the Corporation as may be <br />necessary in payment of the obligations of the Corporation created <br />as aforesaid. <br /> <br /> This by-law shall come into force and take effect as of <br />the 1st day of January, 1966. <br /> <br />repealed. <br /> <br />All other by-laws inconsistent of this by-law are hereby <br /> <br />Passed in open Council this /~day of January, <br /> 1966. <br /> <br /> / / ~ Walden, <br /> CLERK* S CERTIFICATE <br /> <br /> I, C. A. Keeley, Clerk of the Corporation of the County of <br />Essex, do hereby certify that the foregoing is a true and correct <br />copy of by-law 1606 read in the open Council of the County of Essex <br />the necessary times and finally passed at~i~S~Ja2aua~gr~y Session, 19~6~. <br /> <br /> ClerR/ <br /> County of Essex <br /> <br /> <br />