HomeMy WebLinkAbout1068A By-law to authorize the borrowing of $10,000.00.
Ontario Municipal Agreement
(Borrowing by way of Promissory Note)
~gC~~l1~~l~t made the ................15 th.....:........................day of.......ye comber
A.D. 19....~kl., between the CORPORATION of the.......1'r?.wnshi.p....o.f....Clarke .................
of .............................................................:......................hereinafter called "the Corporation," of the one
part, and THE CANADIAN BANK OF COMMERCE, hereinafter called "the Bank," of
the other part.
Whereas by a by-law passed by the Council of the Corporation on the
.............................~..~.t.k~................day of..........Ae..cemb~r...........................A.D. 19...4.1.., and numbered
............................... authority was given under Section 334 of The IVTttnicipal Act, Revised
Statutes of Ontario, 1927, as amended by Chapter 29, Section 12, of the Statutes
of Ontario, 22 Geo. V, to borrow from the Banl: the moneys therein mentioned to
meet the current expenditures of the Corporation, and by such by-law this agree-
ment was authorized;
Now It Is Hereby Aga~eed that the Head and Treasures- of the Corporation
be and they are hereby authorized in the manner and subject to the conditions
heron mentioned to borrow from- the Bank the sttm of .....................................................................
........'"~...~ ........................... ..............~.........:-..........:...:................................ ...Dollars
required to meet (until the taxes are collected) current expenditures of the Cor-
poration for the year;
And It Is Further Agreed that all revenues of the Corporation are hereby
charged with the repayment of any sum, and interest thereon, borrowed pursuant
to the said by-law, and with the repay>ent of all other sums (and interest thereon)
which have been or which may be borrowed in the current year to meet current
expenditures of the Corporation for the said year;
Arad It Is Further Agreed that a promissory note or notes sealed with the
corporate seal and signed on behalf of the Corporation by the Head and Treasurer
thereof for sums, with interest thereon, borrowed pursuant to the authority of
the said by-la«T be given to the Bank as security for the repayment of the same;
And It Is Further Agreed that while any moneys borrowed to meet
current expenditures for the year remain unpaid there will be paid to the Bank all
amounts from time to time received by the Corporation on account of revenues.
In Witness Whereof the Corporation has caused its Corporate Seal to be
hereto affixed.
AYOR, REEVE OR WARDEN
CORPORATE l
SEAL
J ,... ....... .... ....... ............................................... ..
` v TREASURER
Corm :~o. 1(Id.A .-__. _._--- - ~ -_ - __ ~ --_.._- __ ___ _ -..,.-,\
.b"........_.....- - - ----- ......... Dzre.. - ... ___ -------- ~-----4ron.o. Ont-• --------~:?~.c.emb.e..r.---- -- ~J41-- -
. -. ,....
---OnYdemand ------- ----after date, for value received, the
Cor1horation of the.....Townsjii.p............n~:.-C..larke. ..-.-,..~---------------------------of..tlie P~-ovztrk•~.Q.h`-...Untar.~.o.. -
h ~ its Cor orate Seal romises to ~5rzv to l ~ - ~ `- v
~ 1' ~ p _ ~~~ ~~FX1T~~T~II . ~~MYi~2 IJC~ ~tt1TM~~, or order, at
its o~cc'e in.._... Ur.o-nq.,....Un.t.• .........................._.....:. -_ __.tlae sunz of
_ .... -
.._..._____ -_ ......................__..._.... _..-................___........._ ___ - -----------------------.........-...------....-------- - -- Dollars,
~nitlr interest at the rate o~ :...............___...------..._....~c~r r•crrt. der annum. from date until paid.
Sz;;ned orr beli.rrlf of the said! Corporrt.ion by the.--------.?fie.e-ve._-------------_--------_-------
and tlae Treasurer of the ~~Irrnicipality, under arrtlaor-ity of b'j~-Lazu No ................--------------------
1-~-~\ assed irr Council tlae.-----------------15th -- - - ..----....... day o -----:-fie ee m be r......-------------- - I 41
p - -------- - f -- 9 - -- -- ---
._, --,
Treirsurer.
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