HomeMy WebLinkAbout67-24L.F. U Rev. Aug. 1962
ONT.
Municipal By -Law for Temporary Advances
51 Printed in Canada
BY -LAW No....... .7 - ?pr.........
A BY -LAW authorizing the obtaining of temporary advances to meet the cost of certain
works pending the completion thereof.
WHEREAS, with the approval in writing of the Ontario Municipal `Board, the Municipal
Council of the Corporation of the
T o ona of Bov„nanville has
passed Construction By -law Number 67 -2 authorizing the construction of
the works described in it as a
Pali ve and Fire Building
nv
the estimated; cost of which works is $430) 000 , copies of which by -law and ap-
proval:are annexed hereto.
AND WHEREAS it is desirable to agree with a bank for temporary advances to meet the
cost of the said works pending the completion thereof.
rtify that the foregoing is a true copy of a By -law passed by the Council of the Municipal
n of the Town of BoY, rn anvil le on the e t h day
of A g ;e 1-19 07 and that the paper- writing hereto annexed is a true copy of Construction
By -law Number 6-1 -2
on the a day of ;one 19
SEAL
passed by the said Council
........................ ............................... ....
Clerk.
P.T.O.
Sect 6465 of
Chap. 274
R.S.O. 1960. t
EXTRACTS FROM THE ONTARIO MUNICIPAL BOARD ACT R.S.O. 1960
64—(1) Notwithstanding the provisions of any general or special Act, `'a municipality shall hgeoreaappro. of
no ,
(a) authorize; or
(b) exercise any of its powers to proceed with; or
(c) provide any moneys for,
any undertaking, work, project, scheme, act, matter or` thing, `the cost or any portion of the cost
of which is to be,
(d) raised in a subsequent year or years; or
fired for
ertaking, etc.
(e) provided by the issue of debentures,
until the approval of the Board has first been obtained.
(2) Subsection 1 does not apply, Application
of section.
(a) to the exercise of powers to proceed with any of the undertakings, works, projedts,
schemes, acts, matters or things referred. to ` in subsection 2 of section 286 of The
Municipal Act except where the whole or any part of the cost thereof is to be provided
for by the issue of debentures by any municipality; or
(b) to the appointment of an engineer, land.surveyor or commissioner under The Municipal
Drainage Act.
(3) The passing of a'by -law by a' council ''to authorize or to exercise any of its powers to Br -law
passed not
p roceed with or to provide an y money for any undertakin g, work,, project, scheme, act, matter
to be in
contravention
or thing referred to in subsection 1 shall not be deemed to be in contravention of subsection 1 if of subs. 1.
such by -law contains'' a provision to the effect that the by -law shall not take effect until the
approval of the Board under` subsection 1 has been obtained.
(4) This section applies to the guarantee by a municipality of the debentures, bonds or Application of
other securities of any other municipality or of any other person or corporation whatsoever, or
section to
of payment of the whole or any part of the sinking fund, or principal of or interest on any such guarantees.
debentures, bonds or other securities, and no guarantee thereof shall be made or entered into,
or by -law in -that behalf be passed, by any municipality under-the provisions of any general or
special Act, or of any agreement entered into pursuant thereto, or by -law passed thereunder,
until the approval of the Board has first been obtained.
(5) Notwithstanding the provisions of section 1 the word "municipality" in this section (nterpretaSon.
and in section 65 includes a public school board in an unorganized township or in unsurveyed
territory, and includes only a local board that may apply to the council that moneys necessary
for any purpose mentioned in this section be provided by the issue of debentures of the corporation
of the municipality.
65. :No by -law shall be ;passed by a municipality for any of the purposes mentioned in Approval of
section 64 until the approval of the Board has first been obtained. by- lags.