HomeMy WebLinkAboutBy-law 4014/71THE CORPORATION OF THE TOWNSHIP OF PTCKERING
BY-LAW NUMBER 4014/71
Being a by-law to consolidate certain
by-laws and to provide for the issue
of one series of debentures in the
amount of $1,366,242.42
WHEREAS By-laws Numbers 3999/71 to 4013/71, both
inclusive, of The Corporation of the Township of Pickering provide
for the issue of debentures of the Corporation in the total amount
of $1,366,242.42 dated the 15th day of June, 1971;
AND WHEREAS none of the debentures authorized by
said by-laws has been sold or disposed of;
AND WHEREAS the Council is by Section 283 of The
Municipal Act, R.S.O. 1960, C.249, authorized to enact as herein-
after set forth;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE
TOWNSHIP OF PICKERING ENACTS AS FOLLOWS:
1. The amounts authorized to be borrowed by By-laws
Numbers 3999/71 to 4013/71, both inclusive, are hereby consolidated
into one sum of $1,366,242.42 in lawful money of Canada and there
shall be issued one series of debentures therefor in the aggregate
principal amount of $1,366,242.42 in denominations of not less
than $1,000 each, payable both as to principal and interest in
lawful money of Canada.
2. The debentures shall be dated the 15th day of June,
1971, shall be issued at one time, be payable in twenty instalments
of principal on the 15th day of June in each of the years 1972 to
1991, both inclusive, and shall bear interest payable semi-annually.
The debentures shall have coupons attached for the payment of such
interest on June 15th and December 15th in each year. The deben-
tures maturing during the years 1972 to 1981, both inclusive, shall
bear interest at the rate of Eight and One-Eighth Percent per annum,
and the debentures maturing during the years 1982 to 1991, both
inclusive, shall bear interest at the rate of Eight and One-Half
Percent per annum. The respective amounts of principal and/or
interest payable in each of the years 1971 to 1991 shall be as
set forth in the said Schedule "A".
3. The debentures shall be payable. as to both principal
and interest in lawful money of Canada at the office of the
Canadian Imperial Bank of Commerce in the Village of Pickering
or at the principal office of the said Bank in either of the cities
of Toronto or Montreal, at the holder's option.
4. The said debentures shall be sealed with the seal of
the Corporation and signed by the head of Council or by some other
person authorized by by-law to sign the same and by the Treasurer;
the signature of the head of the Council on the debentures may be
written or engraved, lithographed, printed or otherwise mechanically
reproduced on the debentures. The said interest coupons shall be
signed by the Treasurer and his signature thereon may be written,
engraved, lithographed, printed or otherwise mechanically reproduced.
5. The rates imposed by said By-laws Numbers 3999/71 to
4013/71, both inclusive, shall be levied, collected and applied for
the purpose of providing for the payment of the debentures issued
under this by-law and the interest thereon.
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6. The holder of any debenture of the denomination of more
than $1,000 issued under the authority of this by-law may exchange
such debenture for debentures of the denomination of $1,000 upon
surrender of such debenture to the Treasurer of the Corporation.
Debentures issued in substitution for any such debenture surrendered
shall bear the same interest rate and maturity date and be the same
in every respect except in denomination to such debentures surrendered.
Only one such exchange shall be permitted with respect to each deben-
ture of the denomination of more than $1,000 issued hereunder and the
costs of such exchange, including printing of the new denominations
of debentures, shall be borne by the Corporation.
7. Pending the sale of the said debentures, or in lieu of
selling them, the Council may by resolution authorize the Reeve of
the Corporation and the Treasurer thereof to raise money by way of
loan on the security of the said debentures or upon the security of
some part of them, and to hypothecate any or all of the said debentures
as security for the repayment of the said loan.
8. The said debentures may contain any clause providing for
the registration thereof authorized by any statute relating to mun-
icipal debentures in force at the time of the issue thereof.
READ a FIRST AND SECOND time in open Cq(unc)l this
day of June, 1971.
?_ Z ?_Z?L
Reeve Clerk
READ a THIRD time and PASSED in open CounciR this
day of June, 1971. \ y I
GCHR I,II14; "A" T(I PY-I,AW Hlltll+)?Ik h0] h/' (I
(1,366 ,747.47
TOWNSIIli' O F 1'1CH.RING
(Province of Ontario)
and 8- 1/2% Debentures
To be dated: 15 June, 1971
To mature: 8-1/8% - 15 June, 1972 to 1981
8-1121 - 15 June, 1982 to 1991
PAYMENT # DATE RATE PRINCIPAL INTEREST TOTAL
1 Dec. 15, 1971 8-1/8% $ 56,570.47 $$56,570.47
2 June 15, 1972 8-1/8% $ 82,242.42 56,570.48 138,812.90
3 Dec. 15, 1972 8-1/87, 53,229.38 53,229.38
4 June 15, 1973 8-1/8% 90,000.00 53,229.38 143,229.38
5 Dec. 15, 1973 8-1/8% 49,573.13 49,573.13
6 June 15, 1974 8-1/8% 97,000.00 49,573.13 146,573.13
7 Dec. 15, 1974 8-1/8% 45,632.50 45,632.50
8 June 15, 1975 8-118% 104,000.00 45,632.50 149,632.50
9 Dec. 15, 1975 8-1/8% 41,407.50 41,407.50
10 June 15, 1976 8-1/8% 113,000.00 41,407.51 154,407.51
11 Dec. 15, 1976 8-1/8% 36,816.87 36,816.87
12 June 15, 1977 8-1/87. 53,000.00 36,816.88 89,816.88
13 Dec. 15, 1977 8-1/8% 34,663.75 34,663.75
14 June 15, 1978 8-1/8% 57,000.00 34,663.76 91,663.76
15 Dec. 15, 1978 8-1/8% 32,348.12 32,348.12
16 June 15, 1979 8-1/8% 62,000.00 32,348.13 94,348.13
17 Dec. 15, 1979 8-1/8% 29,829.37 29,829.37
18 June 15, 1980 8-1/8% 67,000.00 29,829.38 96,829.38
19 Dec: 1.5, 1980 8-1/8% 27,107.50 27,107.50
20 June 15, 1981 8-1/8% 72,000.00 27,107.50 99,107.50
21 Dec. 15, 1981 8-1/2% 24,182.50 24,182.50
22 June 15, 1982 8-1/2% 39,000.00 24,182.50 63,182.50
23 Dec. 15, 1982 8-1/27. 22,525.00 22,525.00
24 June 15, 1983 8-1/2% 40,000.00 22,525.00 62,525.00
25 Dec. 15, 1983 8-1/2% 20,825.00 20,825.00
26 June 15, 1984 8-1/27. 40,000.00 20,825.00 60,825.00
27 Dec. 15, 1984 8-1/2% 19,125.00 19,125.00
28 June 15, 1985 8-1/2% 40,000.00 19,125.00 59,125.00
29 Dec. 15, 1985 8-1/2% 17,425.00 17,425.00
30 June 15, 1986 8-1/2% 40.000.00 17,425.00 57,425.00
31 Dec. 15, 1986 8-1/2% 15,725.00 15,725.00
92 June 15, 1987 8-1/2% 64,000.00 15,725.00 79,725.00
33 Dec. 15, 1987 8-1/2% 13,005.00 13,005.00
34 June 15, 1988 .8-1/2% 64,000.00 13,005.00 77,005.00
35 Dec. 15, 1988 8-1/2% 10,285.00 10,285.00
36 June 15, 1989 8-1/2% 74,000.00 10,285.00 84,285.00
37 Dec. 15, 1989 8-1/27. 7,140.00 7,140.00
38 June 15, 1990 8-1/2% 84,000.00 7,140.00 91,140.00
39 Dec. 15, 1990 8-1/2% 3,570.00 3,570.00
40 June 15, 1991 8-1/1% 84,000.00 3,570.00 87,570.00
$1,366,242.42 $1,121,972.24 $2,488.214.66