HomeMy WebLinkAboutBy-law 2329 BY-LAW N_UMBER
A By-Law of the Corpora%ion of the Township of Picketing to amend
By-Law N~lber 2295 and to repeal By-Law Number 2322 which provides
for the issuing of $140,000.00 Debentures to provide moneys for the
purpose of building and equipping two four-room additions to schools
in Township School Area Number 2 of the Township o£ Picketing.
~IE~EAS 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
2295;
BE IT TItEREFORE ~ACTED by the Municipal Council of the Township of
Picketing that:
1. THAT Clause 2 of W-Law 2295 reading "That the said Debentures shall
be dated the 2nd day of July, 1958, and shall be payable in twenty instal-
ments on the 2nd day of July in each of the year's 1959 to 1978, both
inclusive, and shall bear interest at the rate oC 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 attache~' be amended to read
THAT the said Debentures shall be dated the ]st day of September, 1958,
and shall be payable in twenty instalments on the 1st day of 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 o£ 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 ~ Schedule "A" hereto
attached.
2. THAT Clause 3 of By-Law 2295 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 Hank in the City of Toronto, Ontario,at the holder's
option"
be amended to include the City of Montreal.
3. THAT Schedule "A" attached to By-Law Number 2295 is repealed and
Schedule "A" attached hereto is subsitituted therefore.
4. THAT By-Law Number 2322 be and the same is hereby repealed.
BY-LAW read a First and Second time this /~ day of · x'/z~ ~ 1958.
BY-LAW read a Third time and PASSED this
day of .~ (~ 1958.
S C H E D U L E " A "
,{ttached t~ ar'd Forming Part oF BY-Lif4 NUSfBER D379
$140,000
TOWNSHIP OF PICKERING
5-1/4% Debentures
To mature from One to Twenty Years
NON-CALLi~LE
i $ 4,000 $ 7,350.00 $ 11,350.00
2 4,000 7,]-40.00 ll,140.00
3 5,000 6,930.00 11,930.00
4 5,000 6,667.50 11,667.50
5 5,000 6,405.00 11,405.00
6 5,000 6,142.50 11,142.50
7 6,000 5,880.00 11,880.00
8 6,000 5,565.00 11,565.00
9 6,000 5,250.00 11,250.00
10 7,000 4,935.00 11,935.00
11 7,000 4,567.50 11,567.50
12 7,000 4,200.00 11,200.00
13 8,000 3,8~2.50 11,832.50
14 8,000 3,412.50 11,41~.50
15 8,000 2,992.50 10,992.50
16 9,000 2,572.50 11,572.50
17 9,000 2,100.00 11,100.00
18 10,000 1,627.50 11,627.50
19 10,000 1,102.50 11,102.50
20 ~1,000 577.5q 11.577.50
$140,000 $89,250.00 $229,250.00