207-1875-Loan for Repairs to Court House and Gaol

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8 BY -LAWS OF THIS COUNTY OF ZmMX. Works, for which a large rate of interest is being paid annually. And whereas it is desirable to raise by way of loan the sum of fifteen thousand dollars, so as to liquidate the said indebtedness, pay. able in yearly installments of one thousand dollars each and in. terest. And whereas it will require the sum of nineteen hundred dollars to be raised annually by special rate for the payment of the sail debt and interest as hereinafter mentioned. And whereas the amount of the whole rateable property of the said corporation according to the last revised and equalized assese- meat rolls of the said corporation, being the rolls of 1374, is 17,678,- 505. And whereas, besides the above indebtedness of fifteen thorinud dollars, the existing debt of the said corporation amounts to $21,600 the whole of which is for principal money, and no interest in arrears. And whereas for paying the said sum of one thousand dollars and interest yearly, it will require 25 -100 of a mill in the dollar. It is therefore enacted by the Council of the Corporation of the County of Essex: I. It shall be lawful, for the purpose above recited, for the War. den of the said corporation to cause any number of debentures to be made for such sums as may be required, being not less than $a00 each, and not exceeding in the whole the sum of $15,000; such de. bentures to be sealed with the seal of the said corporation Bad signed by the Warden. II. That the said debentures shall be made payable within Si teen years at farthest from the day hereinafter mentioned for this by. law to take effect, and may be issued so that two debentures for sulas not larger than $500 each may mature and become due and payable in each and every year from the day of the date of this by -Jaw tBk. ing eftect, and shall bear interest at the rate of six Percent. p" annum from the date thereof, payable on the first days of June and December in each year, and shall have attached to them ooupoks jW the payment of such interest. III. That for the purpose of paying the said debt of $15 low and interest thereon, as aforesaid, an equal special rate of 25 -100 of a mill in the dollar shall, in addition to all other rates, be raised levied and collected in each year upon all the rateable property of the said municipality during the said term of fifteen years from the date of the taking effect of this by -law, unless the debentures be aooue, Pte• 1875 IV. This by -law shall take effect on the first day of Dee'vuber, Passed November 16th, 1875. (Bigned), THOS. McKEE, (Signed), LUKE. MONTIIb;I'IL County Clerk. 1Vai -ddn. !