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BY-LAW NUMBER 1877 <br /> <br />A BY-LAW OF THE COUNTY OF ESSEX TO RAISE A LOAN TO MEET <br />THE CURRENT EXPENDITURES OF THE SUN PARLOR HOME FOR <br />SENIOR CITIZENS FOR THE YEAR 1970. <br /> <br /> WHEREAS it has been expedient and necessary to <br />raise by way of a loan the sum of Two Hundred Thousand Dollars <br />($200~000.00) required to meet the current expenditures of the Sun <br />Parlor Home for Senior Citizens for the year 1970. <br /> <br /> BE IT THEREFORE enacted by the Municipal Council of <br />the Corporation of the County of Essex and it is hereby enacted as <br />follows: <br /> <br /> 1. That it shall and may be lawful for the Corporation <br />of the County of Essex to borrow from any chartered bank or banks the <br />sum of Two Hundred Thousand Dollars ($200~000.00) for the purposes <br />afore-mentioned to meet the current expenditures of the Sun Parlor <br />Home for Senior Citizens for the year 1970 by demand notes at the rate <br />of interest prevailing at the time of the borrowing of the required <br />money. <br /> <br /> 2. The Warden and Treasurer of the County of Essex be <br />and they are hereby authorized to enter into agreements to carry <br />into effect the said loan. <br /> <br /> 3. That all and any revenues of the Corporation are <br />hereby 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 satisfied. <br /> <br /> 4. That the Treasurer is hereby authorized and directed <br />to apply as much of the revenues of the Corporation as may be necessary <br />in payment of the obligations of the Corporation created aforesaid. <br /> <br />All other by-laws inconsistent to this by-law are hereby <br /> <br />repealed. <br /> <br /> This by-law shall come into force and take effect as <br />of the /st day of January, 1970. <br /> <br /> / <br /> <br />1st read ,g- ,:l.-7o ..'>' <br /> <br /> CLE~ ~S CERTIFICATE <br /> <br /> I~ C. A. Keeley, Clerk of the Corporation of the County <br />of Essex~ do hereby certify that the foregoing is a true and correct <br />copy of By-law Number 1877 read in open Council the necessary times and <br />finally passed at its January~J~sio_~n. ~ <br /> <br /> ~~~nof the County of Essex <br /> <br /> <br />