HomeMy WebLinkAbout2099A by-law to provide for the borrowing upon debentures of $23,000.00 to defray the cost of erecting and equipping a two room addition to the Public School in School Section 12 in the Township of Darlington.
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1, For the purpose aforesaid, the Corporation shall borrow upon
the credit of the Corporation a sum not exceeding Twenty-Three Thousand
Dollars ( ~ 23,000,00 ~ and shall issue debentures therefor in sums of not
! less than ~! 50,00 each. Each debenture shall have coupons attached thereto
payable annually, for the payment of interest, which shall be payable
at the rates set out in Schedule "' A " hereto annexed, which Schedule "A "
is hereby declared to be and forms part of this by-law,
2, All the debentures shall bear the same date, shall be issued
at one time in the year 1958 after the day on which this by-law is
passed, may bear any date within such two years and shall be payable
in annual .instalments during the period of twenty years next after the
date of issue thereof, and the respective amounts of principal and
interest payable in each of such year shall be the amounts so designated in
Schedule " A " hereto annexed,
3. The debentures shall be payable as to both principal and
=- interest in lawful money of Canada, at the Bank of Montreal, Bovmianville,
and at the principal office of the said bank in the Cities of Toronto,
Ontario, and Montreal, Quebec.
4. The said debentures shll be sealed with the seal of the
Corporation and signed by the head of the Council, or by some other person
authorized by by-law to sign the same, and by the Treasurer, The said
interest coupons shall be signed by the Treasurer and his signature
thereon m~ be written, stamped, lithographed or engraved,
5. Commencing in the year 1959 and thereafter in each year in
which an instalment of principal of the said debt and interest become
due, the Corporation shll levy and raise the specific sum shown for
the respective year in the fourth colwnn of the said schedule, Such
" sum shall be levied and raised by a special rate sufficient therefor,
over abd above all other rates, upon all the taxable property of ratepayers
who are supporters of public schools under the jurisdiction of the Board
of the said Township School Area,
6, The said debentures may contain a clause providing for the
registration thereof, pursuant to Section 335 of the Municipal Act,
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7. fending the sale of the said debentures, the head of the
Council and the Treasurer may raise for the purposes aforesaid, by way
of loan on such debentures, any sum or stuns of money not exceeding in
all the sum hereby authorized to be borrowed, and may hypothecate such
debentures for such loan.
READ A FIRST ANT) SECCND TI2~L~; THIS 22nd DAY CF MAY
A.D. 1958.
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Reeve
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...............................
.Clerk,
READ A THIRD TIME, AND FINALLY PASSED , THIS jrd DAY OF
JULY A.D. 1958.
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Reeve
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Clerk
T0IYNSHIP OF DARLINGTON,
23,000,00
This is Schedule " A " to By-law No, 2099 of the Township of Darlington
finally passed the 3rd, day of July 1958.
`~- Debentures,
Year Principal Interest Total,
1959 ~ 1,000 ~ 1,207,50
$ 2,207,50
1960 1,000 x,155.00 2,155.00
1961 1,000 1,102,50 2,102,50
1962 1,000 1,050,00 2,050,00
1963 1,000 997.50 1,997.50
1964 1,000 945.00 1,945.00
1965 1,000 892,50 1,892,50
1966 1,000 8t,.o,00 1,840,00
1967 1,000 787.50 1,787.50
1968 1,000 735,00 1,735,00
1969 1,000 682,50 1, 682,50
1970 1,000 630,00 1,630,00
1971 / 1,000 / 577.50 " l
,577.50
1972 1,000 525,00 1,525,00
197$ 1,000 472,50 1,472.50
1974 1,000 420.00 1,420,00
1975 1,000 367,50 1,367,50
1976 2,000 315,00 2,315,00
1977 2,000 210,00 2,210,00
1978 2,000 105,00 2,105,00
$ 23,000 ~ 14,017.50 4` 37,017.50