HomeMy WebLinkAboutBy-law 3202 THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NO.
A By-law to authorize the issue of a Debenture in
the aggregate principal amount of $1,207,000.00
for various school purposes
WHEREAS the Council of The Corporation of the Township of Pickering
has heretofore passed the following By-laws to authorize the issue and sale
of Debentures to The Ontario Education Capital Aid Corporation in the
following respective principal amounts, all bearing interest at the rate
of
52% per annum, and maturing in varying instalments of principal in the
following respective years, n~nely:
By-law No. Principal Amount Years of Maturity of Debentures
3201 $ 284,000.00 1967 to 1986
3200 923,000.00 1967 to 1986
AND WHEREAS no Debentures have been issued under the authority
of any of said By-laws;
AND WHEREAS instead of borrowing money by the issue and sale of
Debentures to The Ontario Education Capital Aid Corporation under said By-
laws Nos. .~ oO to ~ ~ Q/ . , inclusive, it is desirable to provide
For the borrowing of such money under the authority of this By-law by the
.ssue and sale of one Debenture of The Corporation of the Township of
'ickering in the aggregate principal amount of $1,207,000.00 payable in
nstalments of principal on the 1st day of August in the years 1967 to
986, inclusive, as set out in Schedule "A" hereto and bearing interest at
~e rate of 5~ per annum payable half-yearly, which is the amount of the
~t intended to be created by this By-law.
NOW THEREFORE, the Council of The Corporation of the Township
Pickering enacts as follows:
1. THAT the sums authorized to be borrowed by said By-laws Nos.
~OO to ~ Fo/ , inclusive, are hereby consolidated into one sum
! money shall be borrowed on the credit of The Corporation of the
~ship of Pickering by the issue and sale of one Debenture of the
poration in the aggregate principal amount of $1,207,000.00 to be issued
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under the authority of this By-law, bearing interest at the rate of 5½%
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
~mount from time to time remaining unpaid.
2. THAT the said Debenture shall be dated the 1st day of August,
k966, shall be payable in 20 annual instalments of principal on the 1st day
Df August in the years 1967 to 1986, inclusive, and the respec~bleamounts
~f principal and interest payable in respect of such Debenture in the years
[967 to 1986, inclusive, shall be as set forth in Schedule "A" attached
hereto, which is hereby declared to be and to form part of this By-law.
3, THAT the said payments of principal and interest shall be payable
~n lawful money of Canada by cheques sent through the post to the
~egistered address of the registered owner of the Debenture and such cheques
~hall be payable at par in the City of Toronto.
4. THAT the said Debenture shall be sealed with the Seal of the
~orporation and shall be signed by the Head of the Council or by some other
)erson authorized by By-law to sign the same, and by the Treasurer.
5. THAT the rates imposed by said By-laws Nos. ~ ~ ~ O to~2~_._~,
.nclusive, shall be levied and raised as provided in said By-laws and shall
e applied in payment of the respective aggregate sums of principal and
nterest payable~in the years 1967 to 1986, inclusive, as set forth in
~on the Debent~ure to be issued under this By-law as the
same become due and payable
~hedule "A" attached hereto.
6. THAT the said Debenture be sold to The Ontario Education
vital Aid Corporation.
7. THAT the said Debenture shall contain a clause providing for the
gistration thereof pursuant to section 323 of The Municipal Act.
8. THAT ~pplication shall be made to the Ontario Muni~pal Board for
proval of this By-law and for the certification of the Debenture to be
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issued the~under pursuant to sections 58 to 60 of The Ontario Municipal
3oard Act.
THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NO. ~
S__CHEDULE "A"
1 2 3
PAYMENT DATE 4 5
6
PAYMENTs ANNUAL AMOUNT
NUM~BER DUE PRINCIPAL~ INTEREST TOTAL
1 Peb. 1, 1967 LEVIED HEREUNDER
$33,192.50 $33,192.50
2 Aug. 1, 1967 $34,000.00 33,192.50 67,192.50 $100,385.00
3 Feb. 1, 1968 32,257.50 32,257.50
4 Aug. 1, 1968 37,000.00 32,257.50
5 Feb. 1, 1969 69,257.50 101,515.00
31,240.00 31,240.00
6 Aug. 1, 1969 38,000.00 31,240.00 69,240.00 100,480.00
7 Feb. 1, 1970 30,195.00 30,195.00
8 Aug. 1, 1970 41,000.00 30,195.00
9 Feb. 1, 1971 71,195.00 101,390.00
29,067.50 29,067.50
10 Aug. 1, 1971 43,000.00 29,067.50
11 Feb. 1, 1972 72,067.50 101,135.00
27,885.00 27,885.00
12 Aug. 1, 1972 46,000.00 27,885.00 73,885.00 101,770.00
13 Feb. 1, 1973 26,620.00 26,620.00
14 Aug. 1, 1973 48,000.00 26,620.00 74,620.00 101,240.00
15 Feb. 1, 1974 25,300.00 25,300.00
16 Aug. 1, 1974 51,000.00 25,300.00 76,300.00 101,600.00
17 Feb. 1, 1975 23,897.50 23,897.50
18 Aug. 1, 1975 53,000.00 23,897.50
19 Feb. 1, 1976 76,897.50 100,795.00
22,440.00 22,440.00
20 Aug. 1, 1976 56,000.00 22,440.00 78;440.00 100,880.00
21 Feb. 1, 1977
20,900.00 20,900.00
22 Aug. 1, 1977 59,000.00 20,900.00 79,900.00 100,800.00
23 Feb. 1, 1978 19,277.50 19,277.50
24 Aug. 1, 1978 63,000.00 19,277.50 82,277.50 101,555.00
25 Feb. 1, 1979 17,545.00 17,545.00
26 Aug. 1, 1979 66,000.00 17,545.00 83,545.00 101,090o00
27 Feb. 1, 1980 15,730.00 15,730.00
28 Aug. 1, 1980 69,000.00 15,730.00 84,730.00 100,460.00
29 Feb. 1, 1981 13,832.50 13,832.50
30 Aug. 1, 1981 73,000.00 13 832.50 86,832.50 100,665.00
31 Feb. 1, 1982 '
11,825.00 11,825.00
32 Aug. 1, 1982 77,000.00 11,825.00 88,825.00 100,650.00
33 Feb. 1, 1983 9,707.50 9,707.50
34 Aug. 1, 1983 81,000.00 9,707.50 90,707.50 100,415.00
35 Feb. 1, 1984
7,480.00 7,480.00
36 Au~& 1, 1984 86,000.00 7,480.00 93,480.00 100,960.00
37 Feb. 1, 1985 5,115.00 5,115.00
38 Aug. 1, 1985 90,000.00 5,115.00
39 Feb. 1, 1986 95,115.00 100,230.00
2,640.00 2,640.00
~0 Aug. 1, 1986__96,000.0~ _ 2,640.00 ~98,640.00 _101,280.00
$1,207,000.00 $812,295.00 $2,019,295.00 $2,019,295.00