HomeMy WebLinkAboutBy-law 2249BY-LAW NO. ,Y Y ? q
A BY-LAW OF THE TOVM3HIP -OF?PPIICKKE.:ING
TO REPEAL BY-LAW NUI'4BER 2247 AND TO
AMEND BY-LAW 2185 WHICH AUTHO?I'LES THE
BORROWING OF $1539000.00 FOR PUBLIC
SCHOOL PU.IPOSES
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" thereof
so that the debentures maturing in one to ten years inclusive
would carry 5?1% interest and those maturing in eleven to
twenty years inclusive should carry a 6% interest rate and
be dated July 15, 1957.
AND WHEREAS the Council of the Corporation of the
Township of Pickering have agreed to revise the said Schedule
"All to meet their requirements if the Ontario Municipal Boardts
approval can be secured.
AND WHEREAS the Council of the Corporation of the Town-
ship of Pickering did on the 12th day of June, 1957 pass By-law
2247 which By-law it is now deemed expedient to repeal.
THEREFORE the Council of the Corporation of the Township
of Pickering enacts as follows:
(1) By-law 2247 of the Corporation of the Township
of Pickering is hereby repealed.
(2) Paragraph 2 of By-law 21$5 of the Corporation of
the Township of Pickering is amended by deleting the
words "31st day of March, 1957," in line one and sub-
stituting therefor the words "15th day of July, 1957,"
so that the said paragraph shall read as follows:
"2. The debentures shall be dated the 15th day
of July, 1957, shall be issued at one time, and
shall be payable with interest in annual instalments
during the period of Twenty (20) years next
- 2 -
after the date of issue thereof, and the
rate of interest and the respective amounts of
principal and interest payable in each of such
years shall be aSdesignated in Schedule "A"
hereto annexed, which is hereby declared to be
and form part of this By-law."
(3) Schedule "A" of By-law 2185 is hereby repealed
and the Schedule marked as Schedule "A" to this
By-law is substituted t1herefor and is hereby declared
to be and form part of By-law 2185 as amended by this
By-law.
µ,_ BY-LAW read a First and Second time this .r -7w(day of
`?tr?, 1957.
BY-LAW read a Third time and PASSED this /?'`vg? day of
?3urie, 1957
114-ZOae,7'64_V1
Reeve
THIS IS 3CHE'7ULF "A" F0 R, ING
PART OF BY-LAW 2185 AS AP;NDED
BY BY-LAW z z 9 OF THE COR-
PORATICN OF Til TOWNSHIP OF
PICKERING
YEAR COUPON PRINCIPAL INTEREST ANNUAL PAY'S=
1958 5-3/4% 4,000 $ 9,042.50 132042.50
1959 5-3/4/ 41000 $ 81812.50 12,812.50
1960 5-3/4% 52000 $ 8,582.50 13,582.50
1961 5-3/4% 59000 82295.00 13,295.00
1962 5-3/4% 5,000 81007.50 13,007.50
1963 5-3/4% 69000 7,720.00 13,720.00
1964 5-3/4% 69000 71375.00 13,375.00
1965 5-3A% 61000 7,030.00 13,030.00
1966 5-3/4% 71000 6,685.00 13,685.00
1967 5-3/4% 71000 69282.50 13,282.50
1968 6% 8,000 51880.00 13,880.00
1969 6% 80000 59400.00 13,400.00
1970 6% 8,000 4,920.00 12,920.00
1971 6% 9,000 49440.00 13,440.00
1972 60 91000 3,900.00 12,900.00
1973 6% 10,000 3,360.00 13,360.00
1974 60 113000 2,760.00 13,760.00
1975 60 11,000 22100.00 139100.00
1976 60 122000 19440.00 13,440.00
1977 6% 12,000 720.00 12,720.00
$153,000 $112,752.50 p265,752.50