HomeMy WebLinkAboutBy-law 4179/72THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NUMBER 4179/72
Being a by-law to authorize the borrowing
of $400,000 upon debentures towards the
cost of enlargement and improvement of the
Bay Road Sewage Treatment Plant
WHEREAS by By-law Number 3943/71 the Council of The
Corporation of the Township of Pickering authorized the enlarge-
ment and improvement of the Bay Road Sewage Treatment Plant,
as more particularly described in said By-law Number 3943/71;
AND WHEREAS for the purpose aforesaid it is now
expedient to issue debentures in the amount of $400,000 pay-
able in lawful money of Canada on the terms hereinafter set
forth;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE
TOWNSHIP OF PICKERING ENACTS AS FOLLOWS:
1. For the purpose aforesaid, there shall be borrowed
upon the credit of the Corporation at large the sum of $400,000
in lawful money of Canada and the Corporation shall issue deben-
tures therefor in denominations of not less than $1,000 each.
2. The debentures shall be dated the 15th day of May,
1972, shall be issued at one time and shall be payable in twenty
annual instalments of principal on the 15th day of May in each
of the years 1973 to 1992, both inclusive, and shall bear in-
terest payable semi-annually on the 15th days of May and November
in each year at the rates set out in Schedule "A" attached hereto
and forming part of this By-law. The debentures shall have
coupons attached for the pavment of such interest, and the res-
pective amounts of principal and/or interest payable in each of
the years 1972 to 1992 shall be as set forth in the said
Schedule "A".
3. The debentures shall be payable as to both principal
and interest in lawful money of Canada at the office of the
Canadian Imperial Bank of Commerce in the Village of Pickering
or at the principal office of the said Bank in either of the
cities of Toronto or Montreal, at the holder's option.
4. The debentures shall be sealed with the seal of the
Corporation and signed by the head of the Council or by some other
person authorized by by-law to sign them and by the Treasurer. The
interest coupons shall be signed by the Treasurer and his signature
to them may be written or engraved, lithographed, printed or other-
wise mechanically reproduced. The signature of the Reeve on the
debentures may be written or engraved, lithographed, printed or
otherwise mechanically reproduced.
5. There shall be levied and raised in each year in which
an instalment of principal and/or interest becomes due by a
special rate sufficient therefor, over and above all other rates,
on all rateable property in the municipality, the amount of the
instalments of principal and/or interest pavable in that year as
set forth in Schedule "A" hereunto annexed.
6. The said debentures may contain any clause providing
for the registration thereof, authorized by any statute relating
to municipal debentures in force at the time of issue thereof.
READ a FIRST AND SECOND time in open Council this
day of May, 1972.
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AND READ a THIRD time and PASSED in open Council
this /Sr day of May, 1972.
SCHEDULE "A" TO BY-LAW NUMBER 4179/72
$400,000.00
TOWNSHIP OF PICKERINC
(Province of Ontario)
To be dated: 15 May, 1972
8-1/4% to mature: 15 May, 1973 to 1982
8-1/2% to mature: 15 May, 1983 to 1992
YEAR RATE PRINCIPAL INTEREST TOTAL
15 Nov. 1972 8-1/4% $ 16,843.75 $ 16,843.75
15 May, 1973 8-1/4% $ 8,000,00 16,843.75 24,843.75
15 Nov. 1973 8-1/4% 16,513.75 16,513.75
15 May, 1974 8-1/4% 9,000.00 16,513.75 25,513.75
15 Nov. 1974 8-1/4% 16,142.50 16,142.50
15 May, 1975 8-1/4% 10,000.00 16,142.50 26,142.50
15 Nov. 1975 8-1/4% 15,730.00 15,730.00
15 May, 1976 8-1/4% 11,000.00 15,730.00 26,730.00
15 Nov. 1976 8-1/4% 15,276.25 15,276.25
15 May, 1977 8-1/4% 12,000.00 15,276.25 27,276.25
15 Nov. 1977 8-1/4% 14,781.25 14,781.25
15 May, 1978 8-1/4% 13,000.00 14,781.25 27.781.25
15 Nov. 1978 8-1/4% 14,245.00 14,245.00
15 May, 1979 8-1/4% 14,000.00 14,245.00 28,245.00
15 Nov. 1979 8-1/4% 13,667.50 13,667.50
15 May, 1980 8-1/4% 15,000.00 13,667.50 28,667.50
15 Nov. 1980 8-1/4% 13,048.75 13,048.75
15 May, 1981 8-1/4% 16,000.00 13,048.75 29,048.75
15 Nov. 1981 8-1/4% 12,388.75 12,388.75
15 May, 1982 8-1/4% 17,000.00 12,388.75 29,388.75
15 Nov. 1982 8-1/2% 11,687.50 11,687.50
15 May, 1983 8-1/2% 18,000.00 11,687.50 29,687.50
15 Nov. 1983 8-1/2% 10,922.50 10,922.50
15 May, 1984 8-1/2% 20,000.00 10,922.50 30,922.50
15 Nov. 1984 8-1/2% 10,072.50 10,072.50
15 May, 1985 8-1/2% 22,000.00 10,072.50 32,072.50
15 Nov. 1985 8-1/2% 9,137.50 9,137.50
15 May, 1986 80/2% 23,000.00 9,137.50 32,137.50
15 Nov. 1986 8-1/2% 8,160.00 8,160.00
15 May, 1987 8-1/2% 26,000.00 8,160.00 32,160.00
15 Nov. 1987 8-1/2% 7,055.00 7,055.00
15 May, 1988 8-1/2% 28,000.00 7,055.00 35,055.00
15 Nov. 1988 8-1/2% 5,865.00 5,865,00
15 May, 1989 8-1/2% 30,000.00 5,865.00 35,865.00
15 Nov. 1989 8-1/21 4,590.00 4,590.00
15 May, 1990 8-1/2% 33,000.00 4,590.00 37,590.00
15 Nov. 1990 8-1/2% 3,187.50 3,187.50
15 May, 1991 8-1/2% 36,000.00 3,187.50 39,187.50
15 Nov. 1991 8-1/2% 1,657.50 1,657.50
15 May, 1992 8-1/2% 39,000.00 1,657.50 40,657.50
$ 400,000.00 $ 441,945.00 $ 839,945.00