HomeMy WebLinkAboutBy-law 3852/7011i 0 (0.'! Jj LI F 0'.7. ,illy 0_ F''l'::
BY-LAW idl 131' h2/7i?
being a By-law to authorize the borrowing of
$12,318.66 upon debentures towards the cost
of construction of a watermain on Rosebank Road
WHEREAS by Ny-law Number 3541/69 the Council of the
Corporation of the Township of Pickering authorized the. cons(ruct-
ion of a watermain on Rosebank Road from a point approximately
1510 feet north of the north street line of the First Concession
Road to a point approximately 3229 feet north of the north street
line of the First Concession Road as a local impr.ovemcnt under the
provisions of The Local Improvement Act R.S.O. 1960, Chapter 223;
AND WHEREAS the said work has been completed, a special
assessment rod) drawn up and a Court. of Revision duly held in
accordance with the relevant provisions of The Local Improvement
Act;
AND WHERP,AS for the purpose aforesaid it is now expedient
to issue debentures in the amount of $12,318.66 payable in lawful
money of Canada on the terms hereinafter set forth;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN-
SHIP 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 $12,318.66 in
lawful money of Canada and the Corporation shall issue debentures
therefor in denominations of not less than $50 each.
2. The debentures shall be dated the 15th day of September,
1970, shall be issued at one time and shall. be payable in twenty
annual instalments of principal on the 15th day of September in
each of the years 1971 to 1990; both inclusive, and shall bear
interest at the rate of nine and one-half per cent (9%25;0 per annum
payable semi-annually. The debentures shall, have coupons attached
for the payment of such interest on March 15 and September 15 in
each year. The respective amounts of principal and interest payable
in each of such years shall be as set forth in Schedule "A" hereto
annexed and forming part of this By-law.
3. The debentures shall be payable as to both principal. and
interest in lawful. money of Canada at the office of the Canadian
Imperical 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 Corpor-
ation 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 may be
written or engraved, lithographed, printed or otherwise mechanically
reproduced.
5. (a) Ihere shall b- levied and raised in r:??ch year in Mlich
an instalmcnl. of pr i,_c]pa I ar:d i.nteresl. be,cor.io5 dues by spec.i-al
rats sufficinnt t.hereForl over and above all other rates on
a11_ the rateable property in the local. improvement area as defined
in By-law Number 3541-/69 tho respective amounCs set forth in
Column 4 of Schedule "A" here.to, but no greater rate shall be
levied in any year than is required after taking into account
receipts from the special rate imposed by clause (b) hereof;
(b) For the payment of the owner's portion of the cost and
interest thereon the special rate of 63 cents per foot frontage
provided for by By-law Number 3541/69 is hereby imposed upon the
lands liable therefor as set forth in said By-law Number 3541/69,
which special rate with a sum sufficient to cover interest thereon
as set out in said 8y--law Number 3541/69 shall be payable in
twenty equal annual Instalment-,, and for that purpose the special
annual rate per foot frontage set forth in said By-law Number 3541/69
is hereby imposed on the said lands described in said By-law
Number 3541/69 according to the assessed frontage thereof, over
and above all other rates and taxes, and the special rate shall
be collected annually by the collector of taxes for the Corpor-
ation at the same time and in the same manner as all other rates.
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 ?-t?
day of September, 1970.
READ a THIRD time and PASSED in open Council this
day of September, 1970.
J? 1 l?1 f
Clerk
?, 1.2,318,66
TOWNSIM U. 111?-KlIiM;-
(Province of Ontario)
9-1/2J Debcntures
To mature 1 to 20 year:;
SC IU-MU L}s
DATE PRINCIPAL INTER}''ST
_ TO'lAh
585.33 $ 585.13
15 March 1971 66
318 585.31, 903.80
15 Sept. 1971 .
570.00 570.00
15 March 1972 00
500 570.00 12070.00
15 Sept. 1972 .
54 6.25 546.25
15 Arch 1973 500.00 546.25 11046.25
15 Sept. 1973
522.50 522.50
15 Aarch 1971+ 500
00 522.50 1,022.50
15 Sept. 197/+ .
498.75 498.75
15 March 1975
500.00 498.75 998.75
15 Sept. 1975
475.00 475.00
15 March 1976 00
500 475.00 975.00
15 Sept. 1976 .
451.25 451.25
15 Ph rch 1977 500
00 /+51.25 951.25
15 Sept. 1977 .
427.50 427.50
15 March 1878 00
500 427.50 927.50
15 Sept, 1978 .
403.75 403.75
15 arch 979 500.00 403.75 903.75
15 Sept- 1 1R/9
380.00 380.00
15 March 1980 500
00 380.00 880.00
15 Sejit, 1980 .
356.25 356.25
15 Kirch 1981 500.00 356.25 856.25
3.5 Sept. 1981
332.50 332.50
15 March 3-982
S 00
500 332.50 832.50
ept. 1982
15 .
308.75 308.75
15 March 1983 500.00 308.75 808.75
15 Sept, 1983
285.00 285.00
March 198
15 00
500 285.00 785.00
1984 4
Sept.
15 .
261.25 261.25
15 Narch 1985
15 Sepi'. 1985 500.00
. 261.25 761.25
237.50 237.50
15 March 1986 000.00
1 237.50 11237.50
15 Sept. 1986 2
190.00 190.00
15 March 1987
000.00
1 190.00 12190.00
15 Sept. 1987 ,
1/+.2.50 1/,•2.50
l5 ;arch 1988 1
000.00 142.50 1,1+2.50
15 Sept. 1988 2
95.00 95.00
15 March 3989
000.00
1 95.00 1,095.00
2.5 Sept. ].989 1
47.50 47.50
3.5 March 1990
(),)0. 00
- 1,0/?la(;0
15 Sept. 1990 _
v 12,318.66 141232.77 $ 261551.43