HomeMy WebLinkAbout70-11THE CORPORATION OF THE VILLAGE OF NEWCASTLE
BY-LAW NO._70-11
a by-law to authorize the borrowing of money
by way of temporary advances pending the issue
and sale of debentures.
WHEREAS section 330 of the Municipal Actq R.S.O. 1900,
Chapter 249 confers the power on a Corporation to borrow
money pending the issue and sale of debentures up to the
total amount of the debentures authorized by the Municipal
Board.
AND WHEREAS the Municipal Board has authorized the issue of
$50,000 ten year serial debentures for the purpose of the
construction of a Substation, and for improvements and
extension to the system of distribution of electricity and
for street lights as set out in Resolution No. 145, passed
by the Council of the Corporation of the Village of Newcastle
at a meeting held on June 30th, 1970. The approval of the
Municipal Board is evidenced by its letter dated August 21st,
1970.
THEREFORE the Council of the Corporation of the Village of
Newcastle enacts as follows:
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day of 1970.
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