HomeMy WebLinkAboutBy-law 2328 B Y,- L,A W N_,,U M,,D E R
A By-Law of the Corporation of the Township of Picketing to amend
By-Law Number 2260 and to repeal By-Law Number 2323 which provides for
the issuing of ~65,000.00 Debentures to provide moneys for the purpose
of building and equipping a three room school in Township School Area
Number 1 of the Township of Picketing.
..~HEREA, S it is more advantageous to the Township to place a 5~ coupon on
the debentures rather than the 5~ coupon as approved by By-Law Number 2260;
BE IT ~IEREFO,,REENACTED by tile Municipal Council of the Township of
Picketing that:
1. ~{AT Clause 2 of By-Law Number 2260 reading "That the said Debentures
shall be dated the 2nd day of July, 1958, and shall be payable in twenty
instalments on the 2nd day of July in each of the years 1959 to 1978, both
inclusive, and shall bear interest at the rate of 5-3/4% per annum, and all
of such interest shall be payable annually on the 2nd day of July in each
year of the currency of the Debentures. The Debentures shall have coupons
attached thereto for the payment of interest and the respective amounts of
principal and interest payable in each of such years shall be as set forth
in Schedule "A" hereto attached." be amended to read
THAT the said Debentures shall be dated the 1st day of September, 1958,
and shall be payable in twenty instalments on the 1st day o£ September in
each of the years 1959 to 1978, both inclusive, and shall bear interest at
the rate of 5-1/4~ per annum, and all of such interest shall be payable
annually on the 1st day of September in each year of the currency of the
Debentures. The Debentures shall have coupons attached thereto for the
payment of interest and the respective amounts of principal and interest
payable in each of such years shall be as set forth in Schedule "A" hereto
attached.
2. THAT Clause 3 of By-Law 2260 reading "That the said Debentures shall be
payable as to both principal and interest in lawful money of Canada at The
Canadian Bank of Commerce in Claremont, Ontario, or at the principal office
of the said Bank in the City of Toronto, Ontario, at the holder's option"
be amended to include the City of Montreal.
3. THAT Schedule "A" attached %o By-Law Number 2260 is repealed and
Schedule "A" attached hereto is substituted therefor~y,
4. THAT By-Law Number 2323 be and the same is hereby repealed.
BY-LtW read a First and Second time this / % ~day of/).~)z~ ,~ .1958.
BY-lAW read a Third time and PASSED this / ~ _day o ~:~ ~- 1958.
Clerk
$ C 11[ E D U 1~ E_ " A.."
~5~000
TOWNSH~ OF PICK~
5-~ Debent~,s
To matte from One to ~enty lears
~C~L~BLE
SCHHD~E
~ ~NC~P~ .~ NT~ST A~L PA~
1 $ 2,000 $ 3,412.50 $ 5,~2.~
2 2,000 3,307.50 5,307.50
3 2,000 3,202.50 5,202.50
4 2,000 3,097.50 5,O97.50
5 2,000 2,992.50 4,992.50
6 2,000 2,887.50 4,887.50
7 3,~ 2,782.50 5,782.50
8 3,~0 2,625.00 5,625.~
9 3,000 2,~7.50 5,467.50
10 3,~O 2,310.OO 5,310.O0
11 3,~ 2,152.50 5,152.50
12 3,000 1,995 .~ 4,995.OO
13 4, ~0 1,837. ~ 5,837 · 50
14 4, O~ 1,627.50 5,627.50
15 4, OOO 1, ~7.50 5, ~7.50
16 4,000 1,207.50 5, ~7.50
17 4, O~ 997.50 4, ~7.50
18 5, OOO 787.50 5,7~. 50
19 5,000 525.~ 5,525.~
20 5.000 .. 26.2. ~ ~.262.50
~5,000 $~,895.~ $1~,895.~