Bylaw
TOWN OF VIEW ROYAL BYLAW NO. 1043
April 14, 2020Pages 293–2941 section
A bylaw to authorize the borrowing of money up to $13,000,000 in anticipation of 2020 revenue.
Maximum amount: $13,000,000Requires repayment using collected property taxes
TOWN OF VIEW ROYAL BYLAW NO. 1043
A BYLAW TO PROVIDE FOR THE BORROWING OF MONEY IN ANTICIPATION OF REVENUE
The Council of the Town of View Royal, in open meeting assembled, enacts as follows:
- This Bylaw may be cited as “Revenue Anticipation Borrowing Bylaw No. 1043, 2020“.
- The Council shall be and is hereby empowered and authorized to borrow upon the credit of the municipality an amount not exceeding the sum of thirteen million dollars ($13,000,000) in such amounts and at such times as the same may be required.
- The form of obligation to be given as acknowledgement of the liability shall be a promissory note or notes bearing the corporate seal and signed by the Mayor and the Chief Financial Officer.
- All unpaid taxes and the taxes of the current year when levied or so much thereof as may be necessary shall, when collected, be used to repay the money so borrowed.
READ A FIRST TIME THIS DAY OF , 2020
READ A SECOND TIME THIS DAY OF , 2020
READ A THIRD TIME THIS DAY OF , 2020
ADOPTED BY COUNCIL, SIGNED BY THE MAYOR AND THE CLERK AND SEALED WITH THE SEAL OF THE TOWN OF VIEW ROYAL THIS DAY OF , 2020
MAYOR
CLERK
Page 293–294
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Extracted from: 2020 04 14 Special Council Agenda - Agenda - Pdf