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HomeMy WebLinkAboutBy-law 3552 THE CORPORATION Om THE TOWNSHIP OF PICKERING BY-LAW NUMBER 3552 A By-law to authorize the issue of a Debenture in the princinal amount of $1,882,000.O0 for secondary school purooses. WHEREAS the Picketing District H~gh School Board has applied to the Councils havin~ jurisdictiom in the Picketing High School District for the sum of $1,882,000.00 to be raised by the issue of Debentures for permanent improvements as set out in Schedule "A" attached hereto and a majority oF the sai~ Cnuncils have anproved of the said aonlfcation; AND WHERmAS for the purposes aforesaid the Council of th~ Cornoration of the Township of Picker~n~ now de.ms it e×oedient to borrow mon~v by the iss~e and sale to The Ontario Education Canital Aid Corporation of a Debenture of this Municipality in the pr~ncioal amount of $1,882,000.O0 bearinF interest at the rate of 6-3/4~ per annum payable semi-annually, which is the amount of the debt intended to be craated by this By-law. NOW THEREFORE the Council oF the Corporation of the Township of P~ckerin~ ENACTS AS FOLLOWS: 1. THAT for the purposes aforesaid moneM shall be borrowed on the credit of The Corooration o~ the Township of Picketing bM the issue of a Debenture of the Corooration in the principal amount of $1,8~2,O00.OO bearing interest at the rate of 6-3/4~ p~ annum payable sem~-annually on the 1st day oF March and 1st day of September in each year of the currency of the Debenture, uoon the principal amount from time to time remaining unpaid. 2. THAT the said Debenture shall be dated the 1st day of September, 1968 and shall be payable in 20 annual instalments of princioal on the let day of September in the years lO69 to 1~88, inclusive, an~ the respective amounts of principal and interest payable in respect of such Debenture in the years lO69 to 1088, inclusive shall be as set forth in Schedule "B" attached hereto. 3. THAT the said payments o~ principal and interest shall be payable in lawf~l money of Canada by cheques sent through the post to the registered address of the registered owner of the Debenture and such cheques shall be payable at par in the City of Toronto. By-Law #3552 THAT the said Debenture shall be sealed with the Seal of the Corporation and shall be sinned by the Head of the Council or by some other person authorized by By-law to si~n the same, and by the Treasurer. 5. THAT all sums required to pay off the instalments of principal of the Debenture and to pay interest thereon as set forth in the sixth column of Schedule "B" attached hereto shall be levied and raised in the years 196o to 1988, inclusive, on all the rateable property of ratepayers of the municipalities and parts of municipalities respectively comprising the Picketing High School District in accordance with the provisions of The Secondary Schools and Boards of Education Act; and accordingly in each of such years there shall be levied and raised by a special rate sufficient therefor, over and above all other rates, upon all the rateable property in the Township of Picketing within the said High School District at the same time and in the same manner as other rates, the Township of Pickerin~'s share of the principal and interest falling due in each such year and such share shall be determined in accordance with the provisions of The Secondary Schools and Boards of Education Act. 6. THAT the said Debenture be sold to The Ontario Education Capital Aid Corporation. ?. THAT the said Debenture shall contain a clause providing for the registration thereof pursuant to section 323 of The Municipal Act. 8. THAT apolication shall be made to the Ontario Municipal Board for approval of this By-Law and for the certification of the Debenture to be issued hereunder pursuant to sections 58 to 60 of The Ontario Municipal Board Act. 9. THAT Schedules "A" and "B" attached hereto, are hereby declared to be and to form part of this By-law. ENACTED this 7th day of October, 1968. 0 o © THE CORPORATION OF THE TOWNSHIP OF PICKERING BY-LAW NUMBER 3552 SCHEDULE 1 2 3 4 5 6 PAYMENT DATE PA~ENT S ANNUAL AMOUN~ NUMBER DUE PRINCIPAL INTEREST TOTAL LEVIED HEREUN[ 1 March 1 1969 $ $63 517.50 $63,517.50 $ 2 September 1 1969 4?,000.00 63 517.50 110,517.50 174 035.00 3 March 1 1970 61 931.25 61,931.25 4 September 1 1970 50,000.00 61 931.25 111,931.25 173 862.50 5 March 1 1971 60 243.?5 60,243.?5 6 September 1 1971 54,000.00 60 243.75 114,243.75 174 487.50 ? March 1 1972 58 421.25 58,421.25 8 September 1 1972 57,000.00 58 421.25 115,421.25 173 842.50 9 March i 1973 561497.50 56,497.50 10 September 1 1973 61 00~.00 56 497.50 117,497.50 173 995.00 ll March i 1974 54 438.75 54,438.75 12 September 1 1974 65 000.00 54 438.75 119,438.75 173 877.50 13 March i 1975 52 245.00 52,245.00 14 September 1 1975 70 000.00 52 245.00 122,245.00 174 490.00 15 March i 1976 49 882.50 49,882.50 16 September i 1976 75 000.00 49 882.50 124,882.50 174.765.00 17 March i 1977 47 351.25 47 351.25 18 September I 1977 80 000.00 47 351.25 127 351.25 174 702.50 lO March i lq78 44 651.25 44 651.25 20 September i 1978 85 000.00 44 651.25 129 651.25 174,302.50 21 March i 1979 41 782.50 41 782.50 22 September 1 1979 91 000.00 41 782.50 132 782.50 174,565.00 23 March i 1980 38 711.25 38 711.25 24 September i 1980 97 000.00 38 711.25 135 711.25 174,422.50 25 March 1 1981 35 437.50 35 437.50 26 September 1 1981 103 000.00 35 437.50 138 4~7.50 173,875.00 27 March i 1982 31 961.25 31,961.25 28 Sentember 1 1982 110 000.00 31 961.25 141,961.25 173,922.50 20 March 1 1983 24.248.75 28,248.75 30 September 1, 1983 118 000.00 28,248.?5 146,24~.75 174,497.50 31 March 1 1984 24,266.25 24,26o.25 32 September 1, 1984 126 000.00 24 266.25 150,266.25 174,532.50 33 March 1 1985 20 013.75 20,013.75 34 September 1, 1985 134 000.00 20.0!3.75 154,013.75 174,027.50 35 March 1 1986 15.491.25 15,491.25 36 September 1, 1986 143 000.00 15~91.25 158,491.25 173,982.50 37 March 1 1987 !0.665.00 10,665.00 38 September 1, 1987 1~3 000.00 10.665.00 163,665.00 174,330.00 39 March I 1988 5,501.25 5,501.25 40 Seotember l, 1988 163 000.00 5,501.25 168,501.25 174,002.50 $1,892,000.00 $1,602,517.50 $3,484,517.50 $3,484,517.50