HomeMy WebLinkAboutBy-law 4181/72THE CORPORATION Or THE TOWNSHIP OF PICKERINr
BY-LAW NUMBER 4181/72
Being a by-law to raise the sum of
$40,000 upon debentures towards the
cost of constructing and equipping
an indoor swimming pool on part of
Lot 29, Broken Front Range 3
WHEREAS the Council of The Corporation of the Township
of Pickering has enacted By-law Number 3892/70 and amending By-
law Number 4091/71, authorizing the construction and equipping
of an indoor swimming pool on Part of Lot 29, B. F. Range 3 in
the Township of Pickering;
AND WHEREAS it is now deemed expedient to borrow for
the purpose aforesaid the sum of $40,000 upon the credit of The
Corporation of the Township of Pickering and to issue debentures
therefor;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE
TOWNSHIP OF PICKERING ENACTS AS FOLLOWS:
1. THAT for the aforesaid purpose there shall be borrowed
upon the credit of the Corporation the sum of $40,000 and deben-
tures shall be issued therefor in denominations of not less than
$1,000 each. Each debenture shall bear interest payable semi-
annually on the 15th days of May and November in each year and
shall have coupons attached for the payment of such interest.
The debentures maturing in the years 1973 to 1982, both inclusive,
shall bear interest at the rate of Eight and One-Quarter Percent
and those maturing in the years 1983 to 1992, both inclusive,
shall bear interest at the rate of Eight and One-Half Percent
per annum.
2. All the debentures shall be dated the 15th day of May,
1972, and be made payable in twenty annual instalments of prin-
cipal on May 15 in each of the years 1973 to 1992, both inclusive.
The respective 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 said 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 the same and by the
Treasurer; the signature of the head of the Council may be written
or engraved, lithographed, printed or otherwise mechanically re-
produced on the debentures. The said interest coupons shall be
signed by the Treasurer and his signature thereon may be written,
engraved, lithographed, printed or otherwise mechanically reproduced.
5. In each year during the currency of the said debentures
there shall be levied and raised by a special rate sufficient
therefor, over and above all other rates, on all the rateable
property in the Township of Pickering, the amount of the instal-
ments of principal and/or interest payable in that year as set
forth in Schedule "A" hereunto annexed.
SCHEDULE "A" TO BY-LAW NUMBER 4181/72
140,00U. 00
TOWNSHIP Ov PICKERING
(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% $ 1,685.00 $ 1,685.00
15 May, 1973 8-1/4% $ 1,000.00 1,685.00 2,685.00
15 Nov. 1973 8-1/4% 1,643.75 1,643.75
15 May, 1974 8-1/4% 1,000.00 1,643.75 2,643.75
15 Nov. 1974 8-1/4% 1,602.50 1,602.50
15 May, 1975 8-1/4% 1,000.00 1,602.50 2,602.50
15 Nov. 1975 8-1/4% 1,061.25 1,061.25
15 May, 1976 8-1/4% 1,000.00 1,061.25 2,061.25
15 Nov. 1976 8-1/4% 1,520.00 1,520.00
15 May, 1977 8-1/4% 1,000.00 1,520.00 2,520.00
15 Nov. 1977 8-1/4% 1,478.75 1,478.75
15 May, 1978 8-1/4% 1,000.00 1,478.75 2,478.75
15 Nov. 1978 8-1/4% 1,437.50 1,437.50
15 May, 1979 8-1/4% 1,000.00 1,437.50 2,437.50
15 Nov. 1979 8-1/4% 1,396.25 1,396.25
15 May, 1980 8-1/4% 1,000.00 1,396.25 2,396.25
15 Nov. 1980 8-1/4% 1,355.00 1,355.00
15 May, 1981 8-1/4% 2,000.00 1,355.00 3,355.00
15 Nov. 1981 8-1/4% 1,272.50 1,272.50
15 May, 1982 8-1/4% 2,000.00 1,272.50 3,272.50
15 Nov. 1982 8-1/2% 1,190.00 1,190.00
15 May, 1983 8-1/2% 2,000.00 1,190.00 3,190.00
15 Nov. 1983 8-1/2% 1,105.00 1,105.00
15 May, 1984 8-1/2% 2,000.00 1,105.00 3,105.00
15 Nov. 1984 8-1/2% 1,020.00 1,020.00
15 May, 1985 8-1/2% 1,000.00 1,020.00 2,020.00
15 Nov. 1985 8-1/2% 977.50 977.50
15 May, 1986 8-1/2% 3,000.00 977.50 3,977.50
15 Nov. 1986 8-1/2% 850.00 850.00
15 May, 1987 8-1/2% 2,000.00 850.00 2,850.00
15 Nov. 1987 8-1/2% 765.00 765.00
15 May, 1988 8-1/2% 3,000.00 765.00 3,765.00
15 Nov. 1988 8-1/2% 637.50 637.50
15 May, 1989 8-1/2% 4,000.00 637.50 4,637.50
15 Nov. 1989 8-1/2% 467.50 467.50
15 May, 1990 8-1/2% 4,000.00 467.50 4,467.50
15 Nov. 1990 8-1/2% 297.50 297.50
15 May, 1991 8-1/2% 3,000.00 297.50 3,297.50
15 Nov. 1991 8-1/2% 170.00 170.00
15 May, 1992 8-1/2% 4,000.00 170.00 4,170.00
$ 40,000.00 $ 43,865.00 $ 83,865.00
-2-
6. The said debentures may contain any clause providing
for the registration thereof, authorized by any statute relat-
ing 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.
A_A°
f' AND READ a THIRD time and PASSED in open Council this
day of May, 1972.
/; ,.?; Reeve