HomeMy WebLinkAboutBy-law 3855/70
I3`I-L/wl fJ' LIt 3P?`.??'IJ
Being a By-law to raise the sum of % 73>1U
upon aebentures towards the cost of onlarge-
ment and improvement of the J.Sherman Scott
Water Treatment Plant.
WHEREAS the Council of The Corporation of the Township of
Pickering enacted By-law Number 3300/70 on the 15Ch day of June
1970, authorizing the enlargement and improvement of the J.Sherman
Scott Water Treatment Plan by various additions described in the
said By-law;
AND WHEREAS it is deemed expedient to borrow for the purpose
aforesaid the sum of $573,175 upon the credit of The Corporation of
the Township of Pickering and to issue debentures therefor bearing
interest at the rate of nine and one-half per cent (94%) per annum
payable semi-annually;
NOW THEREFOR 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 $573,175 and debentures
shall be issued therefor in denominations of not less than $50 each.
Fach debenture shall bear interest at the rate of nine and one-half
per cent (93%) per annum payable semi-annually on the 15th days of
March and September in each year and shall have coupons attached
for the payment of such interest.
2. All the debentures shall be dated the 15th day of September,
1970, and be made payable in twenty annual instalments of principal
during the years 1971 to 1990: both inclusive. The respective
amounts of principal and interest payable in each of such years sha-
be as designated in Schedule "A" annexed hereto and forming a part
hereof.
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 cf Commerce in the Villane of Pickering or at the
princi-pal office of the said Bank in either of tide Ci_tios of Toi_on
or Monlroal, at the holder's option.
4. The said drIannMoo shall be soalud w!Lh [hp until of W,
Corporation and signed by We head of the Council or by 5om- other
person authorized Ky by-law to sign the same and by the Treasurer;
the signature of the head of the Council may be wrik0n, or engraved,
lithographed, printed or otherwise mechanically reproduced 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. Commencing in the year 1971 and thereafter in each year
during the currency of the said debentures there shall be 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 instalments of principal and interest payable in that
year as set forth in Schedule 9A" hereunto annexed; but no greater
rate shall be levied in any year for such purpose than is required
to pay the instalments after taking into account receipts from any
other source in respect of the said works.
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 Q ft
day of September 1970.
READ a THIRD time and PASSED in open Council this Ott
day of September, 1970.
eve f1
Ye
Clork
d 573)`/7.00
TOILUIllM' OF 1'7C:?1,it? ,;'J
(Province of Outs,ri.o)
9-1/2N Dc)enturec,
To mature 1 to 20 years
SCHi;SLli
ROTE PRINCIPAL INTEREST Tcyj"A)
15 larch 1971 27,225.815 27,225.915
15 Sept. 3971 , 1].,].75 27,225.81.5 38,/00.£>].5
15 larch 1972 26, 695.00 26, 635.00
15 Sept. 1972 11,500 26,695.00 38,195.00
15 Parch 1973 26,71,.8.75 26,]1,•8.75
15 Sept. 1973 11,500 26,148.75 3716 8.75
15 March 1974 25,602.50 253602.50
15 Sept. 1974 13,500 253602.50 39,102.50
15 March 1975 241961.25 24,961.25
15 Sept. 1975 15,500 24,961.25 40,461.25
15 !larch 1976 2!4.3225.00 24,225.00
15 Sept. 1976 16,500 24,225.00 40025.00
15 March 1977 23,41,.1.25 23,4/,1.25
15 Sept. 1977 17,500 23,441.25 40,94.1.25
15 larch 1975 22,610.00 22,610.00
15 Sept. 1978 19,500 22,610.00 42211.0.00
15 Parch 1979 213683.75 21,683.75
15 Sept. 1.979 21,500 21,683.75 43,183.75
15 March 1980 24 500 2o, 662.50 20, 6(2.50
15 Sept. 1980 2o, UP- 50 45,162.50
15 Parch 10,81 25
500 19,498.75 19,498."x5
15 Sept. 1981 ) 19,498.75 44,998.75
15 larch 1982
28
500 18,287.50 18,287.50
15 Sept. 1982_ ' 18,287.50 46,787.50
15 March 1983
31,500 16,933.75 16,933.75
15 Sept. 1983 16,933.75 48,433.75
15 larch 1984 500
34 15,437.50 15,437.50
15 Sept. 1984 , 1534.37.50 49,937.50
15 March 1985 500
37 13,798.75 13,798.75
15 Sept. 1.985 , 132798.75 51,298.75
15 March 1986 41
000 12,017.50 12,017.50
15 Sept. 1.986 ; 12,01.7.50 53,017.50
15 March 1957
45
000 10,070.00 10,070.00
15 Seib. 1957 , 10,070.00 55,070.00
15 larch 1982,
r0
000 7,932.50 7,932.50
15 Sept. 1.988 = 7,932.50 57,932.50
15 larch 1989
000
56 5,557.5 5,55!.50
15 Sept. 1989 °
7 r
r1
5,5.>0
rr r
(A-)557-50
15 March 1990 61
. 000 2,897.50
2 8 1 <
; (7 2,897 50
15
Sept.
1990 _
, r r
S 573075 W 931074..13 , 1,30',,549.13