Loading...
HomeMy WebLinkAboutBy-law 4424/73 THE CORPORATION OF THE TOWNSHIP OF PICKERING BY-LAW NUMBER ~/'~/... '~ ':/,/,://' ~ A by-law to authorize the issue of a Debenture in the principal amount of $210,240.83 for the purposes referred to in Schedule "A" attached hereto. WHEREAS the Council of the Corporation of the Township of Pickering now deems it expedient for the purposes set out in Schedule "A" attached hereto to borrow money by the issue and sale to The Treasurer of Ontario of a Debenture of this Municipality in the principal amount of $210,240.83 bearing interest at the rate of 7% per annum payable semi-annually, which is the amount of 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 aforementioned 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 $210,240.83 bearing interest at the rate of 7% per annum payable semi-annually on the 1st day of February and the 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, 1973, and shall be payable in 20 annual instalments of principal and interest on the 1st day of June in the years 1974 to 1993, inclusive, and the respective amounts of principal and interest payable in respect of such Debenture in the years 1974 to 1993, 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. THAT The said Debenture shall be sealed with the Seal of the Corporation and shall be siEned by the Head of the Council or 'by some other person authorized by by-law to siEn 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 thereof as set out t~ Schedule "B" attached hereto shall be levied and raised in the years 197~ to 1993, inclusive by a special rate sufficient therefor, over and above all othe~ rates, upon all the rateable property in the Municipality at the same time and in the same manner as other mates~ but it shall not be necessary to levy in any year a greater amount than is ~equired to pay the said instalment of principal and interest after taking into account receipts from any other source in respect of said works. 6. THAT the said Debenture be sold to the Treasurer of Ontario. 7. THAT the said Debenture shall contain a clause providing for the registration thereof pursuant to Section 326 of The Municipal Ac~. 8. (a) The Corporation shall have the right, at its option, · o redeem the said debenture on any interest payment date prior to maturity by payment of the unmatured principal amount thereof together with interest accrued to the date set for redemptiOn (b) The unmatu~ed principal of the debenture shall become due and payable on the date set for redemption thereof, and from and after such date interest ceases to accrue thereon where provision is duly made for the payment .of the amount %hereof. - 3 - (c) Notice of intention so to redeem shall be sent by post at least thirty days prior to the date set for such redemption to the person in whose name the debenture is regis temed at the address shown in the Debenture Registry Book. (d) At least thirty days prior to the date set fop such medemption, notice of intention so to redeem shall be published in The Ontario Gazette and in a newspaper of general circulation, if any, in the municipality. 9. THAT application shall be made to the Ontario Municipal Board for approval of this By-law and fop the certification of the Debenture to be issued hereunder pursuant to Section S8 to 60 of The Ontario Municipal Board Act. 10. THAT Schedules "A:' and ':B'~ attached hereto, are hereby declared to be and to form part of this by-law. 11. By-law #4415/73 be and the same is hereby repealed. By-Law mead a First, Second and Third Time and PASSED this :?'/ day of ,~:/<:. / : 1973. ReeVe T~-iE COF, FOiC,~.T~fO.~ OF 'i't!E TO;~$HXP 01: PICKERI~,~G .%-2'anr. of Debenture Construction Ontario Total Approved By-l~w ~unicipal Board Number of O,W.R,C, Ontario To be issue~i Pur~>ose N%unber File ~o Certificate Municipal Board p~-~.~,~ ~,,~l v rs~ued hereunder Expansion of ~he 3943/7'1 H2056 3-0940-70-006 $~00 ~ 000.00 $130,890.00 $210,2~0.83 Bay Road Treatment Plant · CENTRAL MORTGAGE AND HOUSING CORPORATION/SOCI~:T~- CE~UTRALE D'HYF'O'~H£OUES ETDE LoGEMEtz, LOAN R~AYMENT SCHedULe/LISTE DES REMBOURSEMENTS SUR U~ 1 2 ,,.~3 ! 7.0~G(. . ~ ,.951.;0 6~' 5050 19 ;73931.91 '7137.89 t269b i 5;-S~;9 ~.. 72 ~i 90. 14932;].~5 8774.29 ~ ~...~].~ .~._. 19 9399.2~' 1 ~9832.~9 !O0~a. 115C6~. 6~ t07G5.85 '~2z~ 81877.00 13258.56~ 6776.03i 6'167~. l 0 142t}2.90 5 o.o. ZaTaZ. 5 ~ce ~s ~o~i~tio~ scned~e ~s oeen~p~p~ the f~ ~~.c~ ~ b9 releas~ Th~ f~st ~tore~t pa~en~ ha3 be~J~lc~t~ as . $177,351.~ x .0 ~su - Co~om~ ~t~rest Factor $32,889.69 X .05 ~97~ - Com~~ ~%ere~t Fac%or for