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HomeMy WebLinkAbout836A Bylaw to authorise the borrowing of the sum of $7,000 upon debentures for the purpose of purchasing land to enlarge the present school site in Section 7 of the Township of Clarke and erecting thereon a new Public School-House. .~. W3 the Fublia ~ahool Aoard of ~eotic~n ~ o~-the Tov~ehip o~ C~.axke has mad.$ <apgli cation to the 3~ax~icigal Cvwa.a~,~. e~' the ~ca~- t of urflhasin ship o~ Qler~e for the s~ of 7,000 for he p•arpose p ~ I laaa.d to enlsacge the present ~haol $~te in sei d Section and erecting thereap. n new P~ab2iC $ohoel-House; AtiiI3 ~P3 they: prt~pa sue. for the ~,i d loan ha$ been sabmi tted i to a~ Sax~.stiorred ~,t ~ apecia~. meeting o? the ratega~et~s of said Secstien • palled ter .that'`. purpose; ,~,~D WH~ftF the ~a ipal ~oana~,l of thg s~ai d ~avakehig de e~ it de~eirable to compLY with. the said applicaation and to pass a By--lsoMrr - ~~ =~ for ~-erroi~ng the aaia sum a~ ~'~;440 on `the e•rec~.:3~t ai thA t~erpox~8.t'iaxi . and to ~. sue deben tunas thersf o= 'b ®ar ix~ inter at at t ha rite o f ~3."~e and one•-hat ~ gerr aen't ~e~r annum, whi ~ is th+~ am~un t o ~ t key ~eh'~ ~ 1 ire erred to be areat+e~d ~' t2~ii. a -Law; - ~~ the e~.t @ f the whale z'at e~bl s g rpp+e~rrtg o~ the i 1 nioip~li"ty mact~r~.ing tQ the last- remised aeseasment ro11 is AND ~ 'the amount e ~ the e~L sting d.ebentur® c~terbt o~ .. , the ~orporatioaa,, exalueiwa of S-ooal Zmprovem®nte secured b~' siaeQia3 rat®e ©~ seses~msnta, e ~ 6 ~ y , '~ % encl. no p~ rt of the prim ipal ar interest is in arreary ~ - TH}~F.I~RE THL ]~ICI~BS~ =CQUNCIZ @l TH.E CC}~P©RAT Its ~I~ T~iE ~ ~~~_# .~ ~ ~~~~sHIP o~ czar E~~ ~v~',o~s~ _ ~ - ~. 2hafi far the purpa ~sA afo~cea8i $ .there shad be barred an the e<redit of the Qe~rparatien at large the sgm o~ X7,000, and debest~se shal.3 be issued therefpr,in sam.s of not less thaxj. ~~Q4 each, bearing ~~ n'~ereat at the rate' of P~.vo axxl one-hs.~~ per oemt der e~tM a~rxt~ .~ .: fr can the 15th flay o f 13eo ember, :1~ ~ ~ end hev~n~ ' oc~uPon a attached ~~. ~ , for th® p sym~ent o ~ t ]aa interest;. - a :K~ ' ~ ~'A s a~.. r.. fir ' rs. ,4e ~ N~ - s ° r,~ °r ~ -1 ~~ M Z. the debentures eha11 ~.l be dated ~ Qf the .ls~ $sy ~a .~ug~ust, 19~3f and shall 'he pepebTa in twenty-dive sexual annual ins'C.aslmea~'~ of prinoip~~. a~ad inte~eat the 15th day off' DeQember in each of the yeaxe 1924 tee 1948 ina3~t~ive, and the resgeetive aai~m~te ©f .principal. and interest payable in each o f su~ah y eat _,_ _. shall be as set out in Schednl a ~.~." beret o annexed, whi eh i s --_ __ hereby deol sre8 t o be and ~o rffi art o f `t his By-1 ~; 3. 'the ~°debertturae as '~~ both principal and interest e~ ~~ ea~prea~eed in ~~ansdiax~ Qurrene~y a~ aball be payable ~'~ 'ate' p1~e or places in Canada. ., r 4- the B®eve o f .the ~ o rporat is~t shall ®n and i aaue t,bs . E, debentures, and the debentures and' the ixlt~+reet a crup+~n.e sba7.~. ~' al $ o b® 'eign:ed bar the Treasa rer o ~ the d orpo rg ~, ax-~. '~ l~s debentures shall be sealed with the ee~a~l of thee. Co+ora~as 'the eignatare o~ the ~reaso.rer to the e3~c~e mt~y ba wrfttdn, :~. , _ - atax~p a~..,, l~. ~fi~og~a~es~. oy ;a~graXed. - - _ . , . _€ { ,~ Daring t~renty~•five yes, the aurrenag of'the ~,trnt~:re~~, the etas o ~ ~5 21.85 s 21.1 be rai ssA annualljt~ ~e r the p aym e~.t a the debt and interest "by a epeoia'I rate suf'~ioi'ent therefor over ax~ct abejTe alb. otlaeac rates:` can all the rateable pr~psrty crf Publc~~W 3ohocl $uppe~rters iri said: Sahobl Seotian Numbed ~ Q~ the Tos~iip of Clarke. 6, The deben:tures~ may contain. a~ ttlanse provitt~Eng tox the i r®~,i stra.ti on thereof authorized bg a Statute re~,sting to ~~ipe.l .debentures in ~ort~e at the time of the issue thereo~"• ~ , 'hi a By-1 aw s ha13 take of f®Q'~ on the Fag o f t her final i _ , ._ .~.. ~'INALhY P,~S3ED thi a /~'` clay a~ <A st , 19 23 • 4e49 .. ' i • .~ ~~. 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