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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the Township of Pickering enacts as follows: (1) By-law 2247 of the Corporation of the Township of Pickering is hereby repealed.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 (3) Schedule "A" of By-law 2185 is hereby repealed and the Schedule marked as Schedule "A" to this By-law is substituted t1herefor and is hereby declared to be and form part of By-law 2185 as amended by this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