HomeMy WebLinkAboutBy-law 3226 THE CORPORATION OF THE TO~M~tIP OF PX~d~IXN~
LAW NO.
A By-law to authorize the issue of a Debenture
in the principal amount of $
for public school purposes
WHEREAS the school board named in Schedule "A" attached hereto has
applied to the Council of The Corporation of the T~hip of
to provide the sum of $ 6t5,oO0'~0 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 $
bearing inte~=eot at the rate of ~. % 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
of Pie~r~ enacts as follows:
1. THAT for the purposes aforesaid money shall be borrowed on the credit of 'Phs
Corporation of the T~m%ehtp Of ~iekeri~ by the issue of a
Debenture of the Corporation in the principal amount of $ 615,000.00 bearing interest
at the rats of ~ % per annum payable semi-annually on the let day of
and 1st day of De~r 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 De,ember , 19 6~
and shall be payable in 20 anuual instalments of principal on the let day of
in the years 1~67 to 19 86 , inclusive, and the respeotive amounts of principal and
interest payable in respect of such Debenture in the years 1967 to 19 ~ , inclusive,
shall be as '-set forth in ScheduleI "B" 'attached hereto.
3. THAT the said payments of principal and interest shall be payable in lawful
money of Cauada 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 sigmed, by the H~ad 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 out in the sixth column of Schedule '~" attached hereto
shall be levied and raised in the years 19 ~? to 19 86 , inclusive, by a special rate
sufficient'therefor, over 'and above all other rates, upon all the rateable property
assessed to the rat~ayers who are supporters of public schools undwr the jurisdiction of
· The Public School Board of the Township School Area Num%~' 2 of Ptekeri~g at t?.~ same
time an~d in ~the same manner as other rates.
6. THAT the said Debenture be sold to The Ontario Education Capital Aid
7. THAT the' s~id Debenture 'shall contain a clause providing for the registration
thereof pursuant ~to s~ction 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 Debenture to be issued thereunder pursuant to
sections' 58 to 60 of The Ontario Municipal Board Act.
9. THAT Schwdules. "A" and '~B" attached hereto, are hereby declared to be and to form
part of this By-law.
ENACTED this /~ ~ day of .~U~' , 19~ ~
Clerk ~ (Seal)
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T~E CORPORATION OF THE
BY-LAW NO.
SCHEDULE '~B"
~ 2 3 ~ ~ 6
pAYMENT DATE pAYMENTS ANNUAL AMOU~
NUMBER DUE PRINCIPAL INTEREST TOTAL LEVIED HEBE~,.
i ~ X, 1967 ~,~.~O ~,~.~O
3 ~uae 1, 1960 X6,AIT.~O L6,A17.SO
~ ~ X, 1969
6 neee~ber l, l~ ~O,OOO.O0 13,~.O0 35,t~.00 5X,?~O.O0
7 ~vae 1, 1~70 lS,3&~.~O 13,3&$.00
10 Deee~ber l, l~71 22,000.00
11 Jtme 1, In 1A,X6~.~O
15 ~ l, l~TA
1~ Deee,t~er l, 197& 26,000.00 12,e~0.~O .~,~170.00 ~,T&O.00
19 ~a~ l, 1976 IA,AI~.~O XI,AI2.~O
~1 am 1, 1977 lo,&t~.~o :LO,~.~O
23 ~ 1, 1Y78 9,e17. ~O 9,~?.~0
2~ ~eaa~er 1, 1~7~ 3~,~00.00 9,817.~O
23 ~a~ 1, 19'/9 S,~?.50 ~,~37.~O
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