HomeMy WebLinkAbout1172A by-law to provide for borrowing 6the sum of $90,000.00 upon debentures to meet the cost of building an addition to the public schools in sections six and eight in the Township of Darlington.
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in denominations aP not lase that w100.00 yeah, bearing; interest
at the rata of 4~ pe:r asst per annu.~n, payable annually, and
2*.avir,~; couJons attaohed tt:eroto for. the payment oP interest.
2. -The debentures a}:wll be doted the 1st day
1951,
of December, /and s;:ull bs payable in 20 annual instalments qn
thy: 1st day of December, in cash of the years 1952 to 191,
inclusive, attu tiro respeative amounts of prinnipal and interest
puyablo in eaoh of suoh years shall bs as set fortk: in ~ahedule
'~.;" hereto attaohsd.
j. Tt~a debentures e;s to both prir.aipal ancr interest
shall L•e payabl~i in lawful money of Canaua at the brnnah of the
P3ank of .~ontres:l ~n ttue Town of Fowmr,nvills or gat the affice of
tT.e ~unicipai 'nraasurer in the yiilc~~ ® of ;am~SLon, et holder's
ou ti on .
4. The debentures shall be sealed with the weal
of tkas Corporation anc si.gnad by the Reeve, or by saa~ other
psrscxt authorized by ~y-lu~:~ to si ~ the sa~~~c, and by the Treasurer.
Tho said intere:~t coul~~~ns shall to si~;ne~- by the Treasurer rand his
sigrzaturs thereon may be written, stn mpsci, lithographer or
engraved.
5. Commenoin~; in tJrc year 1952 and thereafter
iri each year in w3~.ioh an instalm~t oP principal of the said debt
and interont beoatns dos, tt~e Ocrporation shall levy and raise
the spe.olPia sum shown for the respeative year in the fourth
column of the said ~~ahsduls. Suoh sum shall be l evied and r~:isod
by a special rate suffioient ttxere6r, over and above all other
r€~tes, upon all the rateable property of the su porters of public
schools in the saic Township 3ohool =.rea.
~i. The Corporation shall have the right, at its
option, to redeem the sari debentures maturing in the year 1971
either in whale or in ps~rt an any dote prior to maturity at the
places where and in the monoys in which the said debentures ere
sxproased to be payable, upon ptymr~nt aP the nr'ncipal e~ount
thereof together ~s1th interest aoorued to the date of redemps:#on
anu upon giving previous notice of said intention to redeem by
advertising once in thv Untario Gazette ar~d onoe in a daily
newspaper of general provincial ciraulction, published in the
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City of Toronto, and once in a local newspaper, such notioe to be
advertised as aforesaid at least thirty dr:,ys before the dzste fixed
for redempti::}n. Notias of intentim sa to redeem shall also be
sent b;~ post at lea+~t thin;/ drys prior to the date set for such
rnu5:fption to a~+ch p~r•san in whose name a debc~nLUrs so to hs
red: e~su is re~i:,terad at t21e address shown ,n the ;Debenture :•e~5istry
i~ooi~.
~. Ths said dc~be:.turr-~, mr~y acr.taln ~i clauso providi g;
for the registration thereof aursuant to ~eatian 336 of The iiuniaipal
s'~at.
L'. 1~sndir_~; the sale ar tYze sail: debentures the he~;d
of the Counoil end the Tre~sursr may raise for the purposes
uforesaia by w~oy oP loan on such aebentures any sum or sums of maney
not exaeedirxt; in all the sum hE~reby authorized to be borrowed and
ma;, hypothecate aucl°, debentu. as for such loan.
Read e first ana seaoncz time this 22nd day of
Januarp 3951. ~~~ /f
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ste 6
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~si~d a thirii time c,nd finally pass ad th1° 10th
dey of October, 1951.
eve
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Cler ,
~ra•rrnrsxr~ ar z~~~~z,IrrcTarr
v90,:OC. 4~`,.~~ ~eb~tur~ss 1-2a ya~ra
Y®E:r s'rinoipal Inter®aL 'POtfll i'faY~@nt
1 ~2,8aa.00 ~4,050,QO b,850.0U
2 3,o0a.au 3,924.oa b,g24.ao
3 3,100.00 3,789.aa 6,889.aa
4. 3,3u0.a0 3:648.50 6,g49.5a
5 3,40a.o0 3,5oi.0o 6,9o1.a0
6. 3,boo.0o 3,348.aa 6,948.ao
7 3,7~o.oa 3,1 x6.00 6,886.00
8 3,9aa,oc 3,a19,5a b,g19.5a
9 4,1Cia.u(1 2,~44.a0 6,944.00
zo 4,300.~a 2,659.50 6,959.50
l~ 4,500.00 2,466.aa 6,966.00
12 4,7oo.ao 2,263.50 6,863.50
13 4,9a0.aa 2,052.00 b,95ry.00
)
#4 5,~aa.Oa 1,831 .5a 6,fP1.5o
15 5,30a.aa 1,6a2.aa 6,902.0
16 5,60a.aa i,363.5a 6,563,5a
lb 5,800.0a i,111.5a b,911.50
18 6,za0.o0 85a.5o 6,95o.5a
19 6,300.00 57b.aa b,87b.0a
2a 6,500.00 292.50 6,79~.5a
X90,000.00 ~48,3T9.5o X138,379.50