HomeMy WebLinkAbout1368A By-law to provide for the levy and collection of a special rate in order to defray the Corporation's share of the cost of the construction of a high school near the Village of Courtice in the Township of Darlington, and the furnishing and equipping thereof .
WHBREAS by Order dated the 19th day of August, 1960,
The Ontario Municipal Board has approved the issuing of debentures
by the Corporation oP the United Counties of Northumberland and
Durham, for the sum of $700,000.00 Por the purpose of providing
Funds to the Durham County Dietriat High School Board Por the
construction of a high school near the Village of Courtiee, in
the Township of Darlington, and the furnishing and equipping
thereof.
AND WHSRSAS the Corporation of the United Counties
of Northumberland and Durham, under by-law No. 1$93, authorized
the borrowing of the s~:4d sum of $?00,000.00 upon debentures for
the purposes aforesaid, said debentures to be repayable in annual
inatalmentg during the period of twenty years next after the
date of the issue thereof, with interest, all as in the esid
Hy-law provided.
AI~tD WHBRBA$ each municipality in the said Durham
County High 3ahool Distriot is required to levy and collect
by a special rate on the property rateable for school purposes
in the miunieipality a sum sufficient to p~- its proportion of
the principal and interest pa~l~e under ties debenf~res alore-
aaid.
AND WHEREAS the amount of the rateable property
in the within municipality according to the last rerised equalized
aseesement roll is $ 3, ss~, 7flz •S~ ~
AND Wf~iEA3 the Corporation of the Trv./s K, P of
C/ARKP is ore of the ~nuaioipalities comprising the said
Durham County High 3choal Dietriat.
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NOW THEREFORE the Council of the Corporation of tha
~w~/sNiP of G' lp R Ke.
ENACTH A3 FOLLOW3:-
1. Ccnr~nencing in the year 1951 and theraaPter in aach
year that a gayment of urincipal and interest falls dua under tha
aforeaal.d debentures, the Oorporation of the To.,rNSN~P
of C/A RKe sha11 levy and aolleet by a special
rate on all the property ratcsable Por school purpoa~ee within the
municipality a snm sufficien~~ to pay such proportion of the
prirteipal and interest payable under- the said debentures and of
the expenses connected theree9.th as the equalized asses~nent off'
the within municipality bears i~o the total of the equalized
assessm~ats of all tha muniCip}ilities comprising the Durham
tsoe~tl~ ~ sah0ol DistMot.
2. That such proportion of the princ'~pal and interest
payable under the said debenture; for orhich the within munici-
pality is liable shatll be paid to the Treasurer of the Corporation
of .the United Counties of Northumi~erland and Durham, annually on
or before the date in each year uE~on xhich payments in respect
of the said debentures fa11 due.
READ , a first and se4ond Lima this +~~ day Of OcTo6e~ ,1960 •
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READ a third time and finally paB,~ed this ~*~day of Dero6,~,~, 1950a
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