HomeMy WebLinkAboutBy-law 2332T1TE CORPORATTON OF TITE TOW',TS1TTP OF PTf''VRPTNr,
RY-LAW NT7MER 2332
.1 By-Law to provide for the issue of Debentures in the aggregate principal
a:nonut of55,non.on to provide moneys for the purpose of building and
equipping a three room school in Township School Section N1m:ber 11 of the
Township of Pickering.
WHFRFAS The Public School Board of Township School Section Ntu:)ber 11 of
the Tocmiship of Pickering has requested. the Council of the Township of
Piclzoring to provide moi.eys for the purpose of building and equipping a
three room Publie School in said Township School Section Nwi,ber 11 by the
issue of Debentures of the township in the aggregate principal amount of
`55,000.00;
AND 14TIFRFAS the Council of the said Township has approved the said applic-
ation and it, is expedient to authorize the issue of Debentures of the said
Township in the aggregate principal amount of $55,000.00 bearing interest
at the rates hereinafter provided, the principal being repayable in twenty
arnual instalments, and the respective amounts of principal and interest
being as shown in Schedule "A" hereto;
AND tdIIFRFAS the amount, of the whole rateable property of the Township of
Pickering aecordiu- to the last revised assessment roll thereof is
13,49n,919.0n;
AND WHEREAS the amount of the existing debenture debt of the Corporation
is ?1,FG5,503.11 , and no part of the principal or interest of such ;lebt is
in arrear;
AND WHFRFAS by Order dated the lay of -71?'r+'?S wider file PFE S8
The Ontario Municipal Board has approved the purposes of the said borrowing
and the passing of this Debenture By-law;
TfTFREFORE, the Council of The Corporation of the Township of Pickering enacts
as follows;
1. THAT for the purposes aforesaid money shall be borrowed on the credit.
of The Corporation of the Township of Pickering at large by the issue and
sale of Debentures of the Township of Pickering in the aggregate principal
'55,000.00.
amount of ?
THAT the said Debentures shall be dated the / 3-,k day of 67??
,,
1951, and shall be payable in tcrenty iiistalr.:ei:ts on the day of
I X16. 4 1979
it each of the years 1$Fn to 13ER, both inclusive, and shall bear interest
- ° -
at the rate of S jds per annum, and all of such interest shall be payable
annually on the / 10- day of in each year of the currency of
the Debentures. The Debentures shall have coupons attached thereto for the
payment of interest and the respective amounts of principal and interest
payable in each of such years shall be as set forth in Schedule "A" hereto
attached.
3. 71TAT the said Debentures shall be payable as to both principal and
interest in lawful money of Canada at The Canadian Bank of Commerce ill
Claremont, Ontario, or at the principal office of the said. Rank in the
City of Toronto, Ontario, or the City of '.Montreal, Quebec, at the holderrs
option.
4. THAT the said Debentures shall be sealed with the seal of the Corpor-
ation and signed by the Reeve or by some other person authorized by by-lav,
to sign the same and by the Treasurer. The interest coupons shall be
signed by the Treasurer and his signature thereon may be written, stamped,
lithographed or engraved.
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5. THAT commencing in the year %15 and in each year thereafter in which
an instalment of principal and interest becomes due the respective amounts
set forth in the fourth column of Schedule "A" hereto shall be levied and
collected annually by a special rate sufficient therefor over and above all
other rates upon the property of ratepayers who are supporters of public
schools under the jurisdiction of The Public. School Board of Township School
Section Number 11 of the Township of Pickering.
6. THAT the said Debentures may contain a clause providing for the regist-
ration thereof pursuant to Section 335 of The Municipal. Act.
7. THAT this By-law shall come into force and take effect on the date of
the final passage thereof.
BY-LAW read- a First and Second time this a
BY-LAW read a Third time and PASSED this ,eX
J? ? _ <<< < it .,
rr
?? 'P07,c,,s'IIP OL PTCY EIOLY-d!,
.0-I3/0 Jebertures
To rraturn one to twenty peons
JVii li.Ut?Iu:
o n.:,. 113
1 ,?.V
P,
??G?'? "; 1,000 3,1P2.1r0 4,102.50
5,105.00
/013 20000 2,000.00 4,090.00
/M44 2,000 2,87 .00 4,`37n.00
/Y'k, , 2,000 21700.00 4,730.00
19A 'i 1,00() 21 • 00 4, G'45.OO
/7k"'7 2,000 2,730.00 4,530.00
/ICJ p ?,000 2, 41n.Or 4, tiv.00
?.,GOC 300 GC t1 ,cC.C0
?(
G? 10 31000 2.,I?. .00
r
11 ii OcO 2100.50 5012.50
V :13 (100 1,"; 1(, .00 4,810.00
Li 1,000 1, )17.nG 4p'1P no
i?131-I, 12ON) I'v .OO 4,tum.00
31000 I,3C2.50 0 ,m.70
5000 1,150.00 5,150.00
4,000 OWN() 4,920.00
1,00c 3vO.OC q l o.00
my 'coc 4",O.OC A, ?:0.00
/yf/`?0 ['000 230.0c I, V30.0(,
:;1),000 °,'715.00 317::-.00