HomeMy WebLinkAbout1109 A by-law authorizing the Mayor and Treasurer to borrow $45,000.00 by way of temporary loan to meet the expenditure on Local Improvement work for the year 1925. o. AD
DY�Law l •rl►MII
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-larr of the Rorporat i on of the T own of Bowmenvi l lr.
to authorise the Mayor and Treasurer to borrow t45 ,vOWOoOO '
.or
z b way of a temporary loan to meet the expenditure
on Improvement Local
work of the Town for the year 192 .
w AS the Council of the Corporation of the Town of
Bo anv ille deems it neoeseary under the authority given to it
by the looal Improvement cot to borrow $45 .000.00 to meet
the expenditure on the Looal Improvement work for the year
2925.
TBEMORE the Munioipal Couneil of the Corporation of
the Town of Bowmanvi lle enacts as. follows :
-
THAT the Mayor , and Treasurer of t-he Town of Bowmanvilla
be and they are hereby empowered t o borrow on the credit, of
r •
tie Corporation of the Town of Bowmanville from any person
i
f o Bank � ► sun muse not exceeding im the whole $45 ,000.00
(Fo .t -pye dollars ) to meet the expend turw on Local
'Improvement works of the Corporation of the Town of Sowmanville
for the' current year and to give and make a promissory note
or notes of the Corporation therefor payable at euaj times
within the o ur _
and
Treasurer
nt T ar ae the sai a9 or
M Y t ht nk proper and t o re new the same from time to - time- as
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Pay be necessary, and to sign the said note or notes and
renew ae such Mayor and Treasurer , and to affix the C orpft
a e seal of the Cor oration to same ind to arrange , with the .
or t p
party or Bank making , the ' loan for such rate of interest as the
aid etRaater .and__ .Treaur r ms y. t_b1n k.. proper and pay, inter*
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out of the proceeds of any 3.o n made
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