HomeMy WebLinkAboutBy-law 3739 THE CORPORATION OF THE TOWNSHIP OF ?ICKERING
BY-LAW NUMBER 3739
Being a By-law to raise the sum of $31,000
upon debentures towards the oost of a fire
pumper
WHEREAS the Council of The Corporation of the Township of
Picketing enacted By-law Number 3683 on the 2nd day of September,
1969 authorizing the purchase of one 1970 Ford, MC850, triple
combination fire pumper, 840 I.G.P.M., for the Township of Pickering;
AND WHEREAS it is deemed expedient to borrow for the purpose
aforesaid the sum of Thirty-one Thousand Dollars ($31,000) upon the
credit of the said Corporation and to issue debentures therefor
bearing interest at the rate of Nine and Three-quarters Per Cent
(9 3/4%) per annum pa~able annually;
NOW THEREFORE the Council of The Corporation of the Township
of Picketing enacts as follows:
1. That for the aforesaid purpose there shall be borrowed
upon the credit of the Corporation the sum of Thirty-one Thousand
Dollars ($31,000) and debentures shall be issued therefor in
denominations of not less than Fifty Dollars ($50) each. Each
debenture shall bear interest at the rate of Nine and Three-quarters
Per Cent (9 3/4%) per annum payable annually and shall have coupons
attached for the payment of such interest.
2. Ali the debentures shall be dated the 15th day of December,
1969, and be made payable in five annual instalments of principal
and interest during the years 1970 to 1974, both inclusive. The
respective amounts of principal and interest payable in each of such
years shall be as designated in Schedule "A" annexed hereto and forming
a part hereof.
3. The debentures shall be payable as to both principal and
interest in lawful money of Canada and may be payable at the office
of the Canadian Imperial Bank of Commerce in the Village of Pickering
or at the office of the said Bank in either of the Cities of Toronto
or Montreal.
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The said debentures shall be scaled with the a~al of the
Co.potation and slcned by the head of :he Council o~ by so=~
the slD~ature of the head o~ the Council may be written o~ enslaved,
lithoS~phed, 9~Inted or othe~:i~e mech~nlca11~ r~p~oduc$~ on
debentures. Th~ ~ald inte~t eoupon~ sh~ll be elf~d by
l~thographed, 9~lntod O~ o~he~ise m~ch~ic511y ~op~oduc~do
5. Commen¢tn~ In the ~ear 1970 mhd In each ye~
du~In~ the eu~ncy of the debentu=,es, the Collocation shall ~ais~
~he ~p~ci~io sum =ho~ fo~ ~h9 re~p~c~ive yeam in tho fo~h column
of Schedul~ #A" he~e~o. Such ~um shall b~ levied and ralsod by a
all rateable pmope~y in the municipality.
6. The said debentures may contain any clause pmovidin~ for
municipal dobentures in force at the time of l~Sue Shoreof.
7. Pending the ~ale of the s~id debentures, th~ he~d of thc
Council ~d the Treasurer m~y r~Ise fo~ the Durpose aforesaid by
of loan on such debentures any ~um o~ ~ums of money not exce~dinE in
all the su~ hereby authorized to be bo~ow~d and nay hypothecate such
debentures fo~ such loan.
READ a F,I~ND SE~tim~ In eden Council this
day of Decenber, 1969.
READ a T~I~ tima ~nd P~,,~,,~ In open Council thl~
day of Decez~b~r, 1969.
$31,000
TO~,~,~SHIP. OF PICKL~I~G
(Province of Ontario)
9-3/~% Debentures
To mature 1 to 5 years
BY-LAW 3739
SC~DULE
_~FA.R PRINCIPAL INTE~ T T0 TA .L
1970 $ 5,00O $ 3,022.5O
1971 6,000 2,535.00 8,535.00
1972 6,000 1,950.00 7,950.00
1973 7,000 1,365.00 8,365.00
1974 LLt _q~ 682.50 7.682.50