HomeMy WebLinkAboutBy-law 3200 THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW No. ,~?~O ,,
A By-law to authorize the issue of a Debenture
in the principal amount of $923,000 for public
school purposes
WHEREAS the school board named in Schedule "A" attached
hereto has applied to the Council of The Corporation of the Township
of Picketing to provide the sum of $923,000 by the issue of Debentures
of the Corporation for the public school purposes set out in Schedule
"A" attached hereto and the Corporation has approved of said application;
AND WHEREAS for the purposes aforesaid the Council now
deems it expedient to borrow money by the issue and sale to The
Ontario Education Capital Aid Corporation of a Debenture of this
Municipality in the principal amount of $923,000 bearing interest at
%he rate of 5%~% per annum payable semi-annually, which is the amount
of the debt intended to be created by this By-law.
NOW THEREFORE 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 by the
issue of a Debenture of the Corporation in the principal amount
of $923,000 bearing interest at the rate of 5~% per annum
payable semi-annually on the 1st day of February and 1st day of
August in each year of the currency of the Debenture, upon the
principal amount from time to time remaining unpaid.
2. THAT the said Debenture shall be dated the 1st day of August,
1966 and shall be payable in 20 annual instalments of principal
on the 1st day of August in the years 1967 to 1986, inclusive,
and the respective amounts of principal and interest payable in
respect of such Debenture in the years 1967 to 1986, inclusive,
shall be as set forth in Schedule "B" attached hereto.
3. THAT the said payments of principal and interest shall be payable
in lawful money of Canada by cheques sent through the post to
the registered address of the registered owner of the Debenture
and such cheques shall be payable at par in the City of Toronto.
4. THAT the said Debenture shall be sealed with the Seal of the
Corporation and shall be signed by the Head of the Council or
by some other person authorized by By-law to sign the same, and
by the Treasurer.
5. THAT all sums required to pay off the instalments of principal
of the Debenture and to pay interest thereon as set forth in the
sixth column of Schedule "B" attached hereto shall be levied and
raised in the years 1967 to 1986, inclusive, by a special rate
sufficient therefor, over and above all other rates, upon all the
rateable property assessed to the ratepayers who are supporters
of public schools under the jurisdiction of the Public School
Board of the Township School Area Number 2 of Pickering at the
same time and in the same manner as other rates.
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6. THAT the said Debenture be sold to The Ontario Education Capital
Aid Corporation.
7. THAT the said Debenture shall contain a clause providing for the
registration thereof pursuant to section 323 of The Municipal
Act.
8. THAT application shall be made to the Ontario Municipal Board
for approval of this By-law and for the certification of the
the Debenture to be issued thereunder pursuant to sections
58 to 60 of The Ontario Municipal Board Act.
9. THAT Schedules "A" and "B" attached hereto,are hereby declared
to be and to form part of this By-law.
ENACTED this ~ ~day Of. . ~~?~r~'~ , 19 ~
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%~HE CORPORATION OF THE T(Y~SHIP OF PICKERING
SCHEDULE "B"
1 2 3 4 5 6
PAY~4ENT DATE PAYF~S ~2q197JA L AMOUNT
5UJ~IBER DUE PRINCIPAL INTEREST TOTAL LEVIED HERE.U~-DER
1 Feb. 1, 1967 $25,382.50 $25,382.50
2 Aug. 1, 1967 $26,000.00 25 382.50 51 382.50 $76,765.00
3 Feb. 1, 1968 24 667.50 24 667.50
4 Aug. 1, 1968 28,000.00 24 667.50 52 667.50 77,335.00
5 Feb. 1, 1969 23 897.50 23 897.50
6 Aug. 1, 1969 29,000.00 23 897.50 52 897.50 76,795.00
7 Feb. 1, 1970 23 100.00 23 100.00
8 Aug. 1, 1970 31,000.00 23,100.00 54 100.00 77 200.00
9 Feb. 1, 1971 22,247.50 22 247.50
10 Aug. 1, 1971 33,000.00 22,247.50 55 247.50 77 495.00
11 Feb. 1, 1972 21,340.00 21 340.00
12 Aug. 1, 1972 35,000.00 21,340.00 56 340.00 77 680.00
13 Feb. 1, 1973 20,377.50 20,377.50
14 Aug. 1, 1973 37,000.00 20,377.50 57,377.50 77 755.00
15 Feb. 1, 1974 19,360.00 19,360,00
16 Aug. 1, 1974 39,000.00 19,360.00 58,360.00 77,720.00
17 Feb. 1, 1975 18,287.50 18,287.50
18 Aug. 1, 1975 41,000.00 18,287.50 59,287.50 77,575.00
19 Feb. 1, 1976 17,160.00 17,160.00
20 Aug. 1, 1976 43,000.00 17,160.00 60,160.00 77 320.00
21 Feb. 1, 1977 15,977.50 15,977.50
22 Aug. 1, 1977 45,000.00 15,977.50 60,977.50 76,955.00
23 Feb. 1, 1978 14,740.00 14,740.00
24 Aug. 1, 1978 48,000.00 14,740.00 62,740.00 77,480.00
25 Feb. 1, 1979 13,420.00 13,420.00
26 Aug. 1, 1979 50,000.00 13,420.00 63,420.00 76,840.00
27 Feb. 1, 1980 12,045.00 12,045.00
28 Aug. 1, 1980 53,000.00 12,045.00 65,045.00 77,090.00
29 Feb. 1, 1981 10,587.50 10,587.50
30 Aug. 1, 1981 56,000.00 10,587.50 66,587.50 77,175.00
31 Feb. 1, 1982 9,047.50 9,047.50
32 Aug. 1, 1982 59,000.00 9,047.50 68,047.50 77,095.00
33 Feb. 1, 1983 7,425.00 7,425.00
34 Aug. 1, 1983 62,000.00 7,425.00 69,425.00 76,850.00
35 Feb. 1, 1984 5,720.00 5,720.00
36 Aug. 1, 1984 66,000.00 5,720.00 71,720.00 77,440.00
37 Feb. 1, 1985 3,905.00 3,905.00
38 Aug. 1, 1985 69,000.00 3,905.00 72,905.00 76,810.00
39 Feb. 1, 1986 2,007.50 2,007.50
40 Aug. 1, 1986 73,000.00 2,007.,5Q 75,007.50 77,015.00
923,000.00 621,390.00 1,544,390.00 1,544,390.00