Taxes

Receiver General
From Time to Time.
To Sell

Pledge or otherwise dispose of any securities in which any part of the Sinking Fund may have been invested in case it shall be necessary so to do in order to enable him to pay any sum which is hereby made payable out of the said sinking fund.

By Law

[Authorizing the raising of money by loan, under this act, Shall have been passed by the council of any Municipality, and approved by the Governor in Council, The Treasure of such Municipality shall IPSO FACTO andor ipso facto and without requiring any other authority or direction whatever, have full power,
and it shall be his duty, before the making out of the ordinary Collectors’ Rolls in each year, if the By-Law shall then be in force, and if not, then at least three months before the earliest day on which interest can be payable on any Debenture issued under such

By-law,
to ascertain the highest sum which can be required during the year, to pay the interest (and the principal if any be payable) on or of debentures issued or to be issued under such

By-Law,

and to add five per centum thereunto for losses and expenses, and to certify the amount in a notice to the clerk of the Municipality, or if such Municipality be a County, then to certify to the Clerk of each Township or Incorporated Town or Village therein, the portion payable by the same; and it shall be the duty of such clerk to assess the amount so certified equally upon all the taxable property in his Municipality, and to set down on the ordinary Collectors’ Roll for the Year, if it shall not have been previously delivered to the Collectors, the amount with which each party or lot is chargeable,

under the head of
‘Loan Rate for (Naming the purpose)” or
County Loan Rate
for (Naming the Purpose.)’ as the case may be; and if such amount shall be so certified to any such clerk after the time in any year when the
Collectors’ Rolls
shall have been delivered to
the Collectors,
then such
Clerk shall forthwith make out a special
Collectors Roll
for the purpose in the form may be applicable, and
Proviso.
Shall deliver the same to the Collector:
Provided
Always,
that if there be in the hands of the treasurer at the time of his giving such notice as aforesaid to the clerk of the Municipality, Any monies applicable to the payment of the principal or interest of the Debentures
to which such notice refers, then the treasurer may deduct such sum from that to which the notice refers before adding the five per cent thereto; and provided also,

Proviso……….. | That if the purpose for which the loan is raised be
if the money..| such as to produce profit or to yield returns in
borrowed be |

so invested as

to

Money to the Municipality, or if the money be produce returns. Loaned by it so as to produce interest, or if the Capital be reimbursable to the Municipality, then it shall be law-full for the Treasurer and the Mayor, or Head of such Municipality to enter upon the books of the corporation, a Certificate signed by them in the form of the schedule A.

SETTING FORTH THAT
there ought to be paid to the Municipality during the course of the year, such dividends or profits describing them) or such interest or sums of money (mentioning the amount) or both (as the case maybe), and that the said Treasure and Mayor have reason to believe and do believe that the sums which will, from the said sources, come into the hands of the Treasurer during the year,