HomeMy WebLinkAboutBy-law 4180/72THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NUMBER 4180/72
Being a by-law to authorize the borrowing
of $30,000 upon debentures towards the
construction of the First Phase of the
Greenwood Ice Arena Project
WHEREAS by By-law Number 4078/71 the Council of The
Corporation of the Township of Pickering authorized the construc-
tion of the First Phase of the Greenwood Ice Arena Project, as
more particularly described in said By-law Number 4078/71;
AND WHEREAS for the purpose aforesaid it is now
expedient to issue debentures in the amount of $30,000 payable
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 $30,000
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 interest 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 payment of such interest, and the respective amounts of
principal and/or interest payable in each of the years 1972 to
1982 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 special
rate sufficient therefor, over and above all other rates, on all
rateable property in the municipality, the amount of the instalment
of principal and/or interest payable 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 t'm of 'O ue thereof.
/time
READ a FIRST AND SECOND time in open Council this
day of May, 1972.
bttohl
SCHEDULE "A" TO BY-LAW NUMBER 4180/72
$30,000.00
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% $ 1,262.50 $ 1,262.50
15 May, 1973 8-1/4% $ 1,000.00 1,262.50 2,262.50
15 Nov. 1973 8-1/4% 1,221.25 1,221.25
15 May, 1974 8-1/4% 1,000.00 1,221.25 2,221.25
15 Nov. 1974 8-1/4% 1,180.00 1,180.00
15 May, 1975 8-1/4% 1,000.00 1,180.00 2,180.00
15 Nov. 1975 8-1/4% 1,138.75 1,138.75
15 May, 1976 8-1/4% 1,000.00 1,138.75 2,138.75
15 Nov. 1976 8-1/4% 1,097.50 1,097.50
15 May, 1977 8-1/4% 1,000.00 1,097.50 2,097.50
15 Nov. 1977 8-1/4% 1,056.25 1,056.25
15 May, 1978 8-1/4% 1,000.00 1,056.25 2,056.25
15 Nov. 1978 8-1/4% 1,015.00 1,015.00
15 May, 1979 8-1/4% 1,000.00 1,015.00 2,015.00
15 Nov. 1979 8-1/4% 973.75 973.75
15 May, 1980 8-1/4% 1,000.00 973.75 1,973.75
15 Nov. 1980 8-1/4% 932.50 932.50
15 May, 1981 8-1/4% 1,000.00 932.50 1,932.50
15 Nov. 1981 8-1/4% 891.25 891.25
15 May, 1982 8-1/4% 1,000.00 891.25 1,891.25
15 Nov. 1982 8-1/2% 850.00 850.00
15 May, 1983 8-1/2% 1,000.00 850.00 1,850.00
15 Nov. 1983 8-1/2% 807.50 807.50
15 May, 1984 8-1/2% 1,000.00 807.50 1,807.50
15 Nov. 1984 8-1/2% 765.00 765.00
15 May, 1985 8-1/2% 2,000.00 765.00 2,765.00
15 Nov. 1985 8-1/2% 680.00 680.00
15 May, 1986 8-1/2% 2,000.00 680.00 2,680.00
15 Nov. 1986 8-1/2% 595.00 595.00
15 May, 1987 8-1/2% 2,000.00 595.00 2,595.00
15 Nov. 1987 8-1/2% 510.00 510.00
15 May, 1988 8-1/2% 2,000.00 510.00 2,510.00
15 Nov. 1988 8-1/2% 425.00 425.00
15 May, 1989 8-1/2% 2,000.00 425.00 2,425.00
15 Nov. 1989 8-1/2% 340.00 340.00
15 May, 1990 8-1/2% 2,000.00 340.00 2,340.00
15 Nov. 1990 8-1/2% 255.00 255.00
15 May, 1991 8-1/2% 3,000.00, 255.00 3,255.00
15 Nov. 1991 8-1/2% 127.50 127.50
15 May, 1992 8-1/2% 3,000.00 127.50 3,127.50
$ 30,000.00 $ 32,247.50 $ 62,247.50