HomeMy WebLinkAbout1339 Form 100-51 Ontario
Township of Clarke
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13
BY-LAW No.........:�..'99
........
to authorize the borrowing of $ 75,000.00
Whereas the Council of the Tovriship of Clarke
(hereinafter called the "Municipality") deems it necessary to borrow the sum
of $ 75, 000.0 0 to meet, until the taxes are collected, the current
expenditures of the Municipality for the year;
NoTx. Refer And Whereas the total amount of the estimated revenues of the Munici-
to the e0julat"
for the current pality as set forth in the estimates adopted for the year 1960 , not including
Ma!=on' revenues derivable or derived from the sale of assets, borrowings or issues of
of last ym.
debentures or from a surplus, including arrears of taxes and proceeds from the sale
of assets, is $ 175*000-00
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Therefore the Council of theTownship of ClarkeDf
hereby enacts as follows:
1. The Head and the Treasurer are hereby authorized on behalf of the Municipality to
borrow from time to time by way of promissory note from TEm CANADIAN BANK
OF COMMERCE a sum or sums not exceeding in the aggregate $ 759000-00
to meet until the taxes are collected the current expenditures of the Municipality
for the year, including the amounts required for the purposes mentioned in subsection
(1) of Section 341 of the Municipal Act, and to give on behalf of the Municipality
to the Bank a promissory note or notes sealed with the Corporate Seal and signed by
the Head and Treasurer for the moneys so borrowed, with interest,which may be
paid in advance or otherwise,at a rate not exceeding per centum per annum
2. All sums borrowed pursuant to the authority of this by-law,as well as all other sums
borrowed in this year and in previous years from the said Bank for any or all of the
purposes mentioned in the said Section 341, shall, with interest thereon, be a charge
upon the whole of the revenues of the Municipality for the current year and for all
preceding years as and when such revenues are received.
3. The Treasurer is hereby authorized and directed to apply in payment of all sums
borrowed as aforesaid, together with interest thereon, all of the moneys hereafter
collected or received either on account or realized in respect of taxes levied for the
current year and preceding years or from any other source which may lawfully be
applied for such purpose.
Passed this 5th day of January ig 60
.I�i ....................
THE HEAD 61 .MUNICIPALITY
SEAL
4,000014;
..................... ...... .CLERK...
s.
We hereby certify that the foregoing is a true copy of By-law
No. 133 9 of the Town ski ip of Clarke
in the Province of Ontario, duly passed at a meeting of the Council of the said
Municipality duly held, and that the said By-law is in full force and effect.
Dated This 5th day of Ja nu ar y ig 60
As Witness the Seal of
the Township of Clarke
AY
..................... ............... Z
......................... r
THE HEAD 6i IPALITY
SEAL .................. ..t^.................
CLERK
A by--law of the Corporation
of the Township of Clarke
to authorize the borrowi.n
of 75 ,000.00 .
Passe d - 5 January 1PF0.
H . E. Mill son
Clerk .