HomeMy WebLinkAboutBy-law 2909A BY-LAW OF THE CORPORATION OF THE TOWNSHIP OF PICKERING TO
AMEND BY-LAW NUMBER 2872 WHICH PROVIDED FOR THE TOWNSHIP OF
PICKERING TO ISSUE $36,000.00 DEBENTURES FOR AN ADDITION TO
A PUBLIC SCHOOL.
WHEREAS Council on June 1, 196~, passed By-Law No. 28?2 which
provided fop the Township of PickeTing to issue $36,000.00
debentures for the building of an addition to a public school
and said by-law provided that such debentures should be
dated May 1, 196~ with intemest and principal payable May 1
in each year of the currency of the debentures;
AND WHEREAS the Township Fiscal Agents have agreed to sell
such debentures in the United States of America but due to
a new American regulation such debentuPes would be liable to
a 12 1/2% tax if delivered over 90 days after the date of the
debentures;
BE IT THEREFORE ENACTED by the Municipal Council of the
Township of Pickerlng:
1. That Clause 3 of By-Law No. 2872 reading:
"The debentures shall be dated the First day of May, 196~,
shall be issued at one time and shall be payable with interest
in Twenty (20) annual instalments on the First day of May in
each of the years 1965 to 198~ inclusive, and the respective
amounts of principal and interest payable in each of such
years shall be the amounts so designated in Schedule "A"
hereto annexed."
be chan~ed ..~o:
"The debentures shall be dated the Second day of July, 196~,
shall be issued at one time and shall be payable with interest
in Twenty (20) annual instalments on the Second day of July in
each of the years 1965 to 198~ inclusive, and the respective
amounts of principal and interest payable in each of such
years shall be the amounts so designated in Schedule "A"
hereto annexed."
2. This amendment be subject to the approval of the Ontario
Municipal Board.
BY-LAW read a First, Second and Third time this /0 ..day of
Reev~