HomeMy WebLinkAboutBy-law 4012/71THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NUMBER 4012/71
Being a by-law to raise the sum of
$350,000 upon debentures towards the
cost of constructing and equipping
an indoor swimming pool.
WHEREAS the Council of The Corporation of the Township
of Pickering enacted By-law Number 3892/70 on the 5th day of April,
1971, authorizing the construction and equipping of an indoor swimming
pool on Part of Lot 29, B. F. Range 3 in the Township of Pickering;
AND WHEREAS it is deemed expedient to borrow for the
purpose afroesaid the sum of $350,000 upon the credit of The
Corporation of the Township of Pickering and to issue debentures
therefor;
NOW THEREFORE the Council of The Corporation of the
Township of Pickering enacts as follows:
1. THAT for the aforesaid purpose there shall be borrowed
upon the credit of the Corporation the sum of $350,000 and debentures
shall be issued therefor in denominations of not less than $1,000
each. Each debenture shall bear interest payable semi-annually on
the 15th days of June and December in each year and shall have coupons
attached for the payment of such interest. The debentures maturing
in the years 1972 to 1981, both inclusive, shall bear interest at
the rate of Eight and One-Eighth Percent and those maturing in the
years 1982 to 1991, both inclusive, shall bear interest at the rate
of Eight and One-Half Percent per annum.
2. All the debentures shall be dated the 15th day of June,
1971, and be made payable in twenty annual instalments of principal
on June 15 in each of the years 1972 to 1991, both inclusive. 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 the 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 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. In each year during the currency of the said debentures
there shall be raised by a special rate sufficient therefor, over and
above all other rates, on all the rateable property in the Township
of Pickering, the amount of the instalments of principal and/or interest
payable in that year as set forth in Schedule "A" hereunto annexed.
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6. The said debentures may contain any clause providing
for the registration thereof, authorized by any statute relating to
municipal debentures in force at the time of issue thereof.
READ a FIRST AND SECOND time in open Council this
day of ?- , 1971.
r ?^ n
eeve
Clerk
AND READ a THIRD time and PASSED in open Council this i
day of 1971.
eeve
Clerk
$350,000.00
TOWNSNLP OF PICKS RING
(Province of Ontario)
8-1/84 and 8-1/27. Debenturea
To be dated: 15 June, 1971
To mature: 8-1/8% - 15 June, 1972 to 1981
8-1/2% - 15 June, 1982 to 1991
PAYMENT # DATE RATE PRINCIPAL INTEREST TOTAL
1 Dec. 15, 1971 8-1/8% $ 14,631.25 $ 14,631.25
2 June 15, 1972 8-1/8% $ 5,500.00 14,631.25 20,131.25
3 Dec. 15, 1972 8-1/8% 14,407.81 14,407.81
4 June 15, 1973 8-1/8% 9,500.00 14,407.82 23,907.82
5 Dec. 15, 1973 8-1/8% 14,021.87 14,021.87
6 June 15, 1974 8-1/8% 9,000.00 14,021.88 23,021.88
7 Dec. 15, 1974 8-1/8% 13,656.25 13,656.25
8 June 15, 1975 8-1/8% 11,000.00 13,656.25 24,656.25
9 Dec. 15, 1975 8-1/8% 13,209.37 13,209.37
10 June 15, 1976 8-1/8% 13,000.00 13,209.38 26,209.38
11 Dec. 15, 1976 8-1/8% 12,681.25 12,681.25
12 June 15, 1977 8-1/8% 14,500.00 12,681.25 27,181.25
13 Dec. 15, 1977 8-1/8% 12,092.19 12,092.19
14 June 15, 1978 8-1/8% 14,500.00 12,092.19 26,592.19
16 Dec. 15, 1978 8-1/8% 11,503.12 11,503.12
16 June 15, 1979 8-1/8% 16,000.00 11,503.13 27,503.13
17 Dec. 15, 1979 8-1/8% 10,853.12 10,853.12
18 June 15, 1980 8-1./8% 17,000.00 10,853.13 27,853.13
19 Dec. 15, 1980 8-1/8% 10,162.50 10,162.50
20 June 16, 1981 8-1/8% 20,000.00 10,162.50 30,162.50
21 Dec. 15, 1981 8-1/2X: 9,350.00 9,350.00
22 June 15, 1982 8-1/2% 15.000.00 9,350.00 24,350.00
2
23 Dec. 15, 1982 8-1/2% 8,712.50 8,712.50
24 June 15, 1983 8-1/2% 15,000.00 8,712.50 23,712.50
25 Dec. 15, 1983 8-1/2% 8,075.00 8,075.00
26 June 15, 1988 8-1/2% 15,000.00 8,075.00 23,075.00
27 Dec. 16, 1984 8-1/2% 7,437.50 7,437.50
28 June 15, 1985 8-1/2% 13,000.00 7,437.50 20,437.50
29 Dec. 15, 1985 8-1/2% 6,885.00 6,885.00
30 June 15, 1986 8-1/2% 13,000.00 6,885.00 19,885.00
31 Dec. 15, 1986 8-1/2% 6,332.50 6,332.50
32 June 15, 1987 8-1/2% 25,000.00 6,332.50 31,332.50
33 Dec. 15, 1987 8-1/2% 5,270.00 5,270.00
34 June 15, 1988 8-1/2% 22,000.00 5,270.00 27,270.00
35 Dec. 15, 1988 8-1/2% 4,335.00 4,335.00
36 June 15, 1989 8-1/2% 29,000.00 4,335.00 33,335.00
37 Dec. 15, 1989 8-1/2X. 3,102.50 3,102.50
38 June 15, 1990 8-1/2% 37,000.00 3,102.50 40,102.50
39 Dec. 15, 1990 8-1/2X. 1,530.00 1,530.00
40 June 15, 1991 8-1/2% 36,000.00 1,530.00 37,530.00
$ 350,000.00 $ 376,497.51 $ 726,497.51