HomeMy WebLinkAbout1364A 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 Millbrook, in the Township of Cavan, and the furnishing and equipping thereof.
WH~AS bq Order dated the 15th day of June,
1960, the Ontario Municipal Board has approved the is8uing of
debentures by the Corporation of the United Counties of North-
umberland and Durham, Por the sum oP $1~i7,000.00 for the purpose
oP providing funds to the Durham County District High School
Board Por the construction of a high school near the Village of
Millbrook, the Township,oP Cavan, and the furnishing and
equipping thereof.
A1~ID 1~REA3 the Corporation of the United
Counties oP Northumberland and Durham,
authorised the borroping of the said s'
debentures Por the purposes aforesaid,
repayable in annual instalments during
years ne~ct after the date of the issue
all as in the said By-law provided.
under By-law No, 1878,
um oP $17,000.00 upon
said debentures to be
the period oP twenty
thereof, with interest,
AND WH~AS each municipality in the said
Durham County High School District is required to levy and
collect by a special rate on the property rateable Por school
purposes in the municipality a sum sufficient to pay itB
proportion of the principal and interest payable under the
debentures aforesaid.
AI~II3 WHHREA3 the amount of the rateable
property in the within municipality according to the last
revised equalized assessment rota is $ ~, ~-s-,L, 7~[,~ ~ ss
AND WHRREA3 the Corporation oP the 'ro~~/SH~P
oP ~'/AR~Ie is one of the municipalities comprising ther
said Durham County Iiigh.3ahool District.
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N0K TH81~'0-RE the Council or the Corporation oP the
s~at~e3 a$ zroLiawB S
Commencing in the year 1961 and therearter in each
year that a payment or principal and interest tells due under the
aforesaid debentures, the Corporation or the To „%rs y.,~ or
~/ARC shall levy and collect by a special rate on
all the property rateable Por school purposes within the munl.ai-
pality a etw~ surPiaient to pay such proportion or the principal
and interact payable under the said debentures and or the expenses
connected therewith ss the equalised a8seeement or the within
municipality bears to the total or the equalized assessments or
all the ta~v~icipalities eom~prising the Durham County High 3ahool
District.
2. That ouch proportion or the principal and interest
payable under the said debentures for which the within munici-
pality is liable shall be paid to the Treasurer or the Corporation
or the united Gounties of Northumberland and Durham, annually on
or berore the date in each year upon which payments in respect or
the said debentures tall due.
READ s rirat and second time this /~ day of $'eprem6eR, 1960,
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Clerk
READ a third time and rinally paused this ~~ gay of
.Ste I~r~.n 6c ~ 1960.
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