HomeMy WebLinkAboutBy-law 2247B Y- L A W N U M B E R Y y 7
A BY-LAW OF THE TOWNSHIP OF PICKERING TO AMEND BY-LAW NUMBER 2185
WHICH AUTHORIZES THE BORROWING OF $ 1532000.00 FOR PUBLIC SCHOOL
PURPOSES.
WHEREAS the Firm of Bell, Gouinlock and Company have offered to
purchase the One Hundred and Fifty Three Thousand Dollar ($153,000.00)
bond issue as approved under By-Law Number 2185, if Council would
revise the Schedule "A" so that the debentures maturing in one to
ten years inclusive would carry 5 3/4% interest and those maturing
in eleven to twenty years inclusive should carry a 6j interest rate
and be dated July 15, 1957,
AND WHEREAS Council have agreed to change Schedule "A" to meet their
requirements if Ontario Municipal Board approval can be secured,
BE IT THEREFORE ENACTED by the Municipal Council of the Township of
Pickering
THAT 1.
Y6 1/4% for
(_//
That Sehedi
5 3/4% for
6% for
6 1/2% for
be amended
ale "A" ref
debentures
debentures
debentures
debentures
to read:
erred to
maturing
maturing
maturing
maturing
in
in
in
in
in
Clause One and reading
first five years
second five years
third five years
fourth five years
5 3/4%o for debentures maturing in first ten years
W/o for debentures maturing in second ten years
as per attached Schedule "A"
That the debenture date of 31st day of March, 1957,
as shown in Clause Two be amended to read
15th day of July, 1957.
BY-LAW read a First and Second time this 12th day of June, 1957.
BY-LAW read a Third time and PASSED this 12th day of June, 1957.
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Reeve