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BY.LkW No'
& ByAaw- to provide for a temporary loan ,for purpos,*., ; .
oferecting an addition to a, school
LW
110 has duly passed By-law No
WKWAS the Council, of the Torn of Bownanvi
provi ding for the borrowing of the sum. of $60,,000 upon Debentures for the purpose
of defracoat of erecting an addition to a school inthe.Town of Bemmanvill
-ying the co
AND WHERFAS t1i issue and saleor the said debentures it is necessary
e
that money should be borrowe d from time totime to defray the cost of the said
erection.
ommerce
AND WMUS arrmgments have been made through The Canadian Bank of C
0
for .,Ahe said
A Q
WREW1 41 45
J?
01,
1.
The Head and the Treasurer are herdby authorized on behalf of the Town of
w
Bomahville to borrow from time to time sums :o! money not exceeding an aggro
ate amount of $60,000 !or ,the purpose or defraying the cost of the said
erection pending the issue and sale or the debentures authorized under-By-law
No
e=
2,, The
Read and the Treasurer are hereby aut horize eu
d to pCsuch promissory
in cormection
may notes and other documents as from time to time, be required
with any loan or ,loans obtained for the purpose ar ore said e.
-the said deb
hereby authorized to hypothecate ttfiew
The Head and the Treasurer are
Lure with the said Bank as collateral security for all moneys and interest
thereon owing to the Bank hereunder, and to assi gn the moneys growing due from
the sale of the said.debentures to the said Bank, and the proceeds of the sale
of the said debentures or somuch thereof as may be necessary, shall ,be.,paid
satisfaction of any indebtedness created hersundero
to the said Bank in
l9. ... .
Paused thiw' • • • • OHead
••••06,00•• ••• 0.•.• • 00 000
Seal
copy of By-Law No Of
We hereby torts hat the roregoing Is & t ,duly ;assed at a meeting of the
the Tom of lle in the Province of Ontari d full
acmeil Of the said NmIci ty duly held and the said.Eylaw is in
-force and effect,*
00,00000 •
0 00 100.0 'so's
Dated this 19
O I
As, licitness the Heal of the
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