HomeMy WebLinkAbout2171A By-law to provide for the Ievy 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.
T•oF3EREt:S by Order dated the 19th day of August, 1960, The
Ontario Munic ipal Board. has approved the issuing of debentures by the
Corporation of the United Counties of Northumberland and Durham, for
th.e sum of X700,000.00 for the purpose of providing funds to the Durham
County District High School Board for the construction of a high school
near the Village of Courtice, in the Township of Darlington, and the
furnishing and equipping thereof.
APdD SdHEREAS the Corporation of the United Counties of
Tdorthumberland. and. Durham, under by-law No. 1893, authorized the borrow-
ing of the said sum of "700,000.00 upon debentures for th.e purposes
aforesaid, said debentures to be repayable in annual instalments durir_g
the period. of twenty years next after the date of the issue thereof,
with interest, all as ir_ tie said. By-law provided.
t.T.1D ?'HEREAS each runicipality in the said Durha-m County High
School District is required. to levy and collect by a special rate on the
property rateable for school purposes in the municipality a sum sufficient
to pay its proportion of the principal and interest payable under the
debentures aforesaid.
AND tzHEREAS the amount of the rateable property in the within
municipality according to the last revised equalized assessment roll
is X5,930,055.00.
P.YSD L^,IiEREAS the Corporation of the ToUmship of Darlington is
I one of the municipalities comprising the said. Durham County High School
District.
NO~~: THEREFORE the Council of the Corporation of the Township
~ of D~:.rlington ENACTS AS FOLLO?~5:-
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1. Corumencing in the year 1961 and thereafter in each year that a
payment of :principal and interest falls due under the aforesaid deben-
tures, the Corporation of the Township of Darlington shall levy and
collect by a. special rate on all the property rateable for school
purposes within the municipality a sum sufficient to pay such proportion
of the principal a.nd interest payable under the said debentures and of
the expenses connected therewith as the equalized assessment of the
within municipality bears to the total of the equalized assessments of
all the municipalities comprising the Durham County High School District.
2. That such proportion of the principal and interest payable under
the said debentures for which the t:ithin municipality is liable shall
be paid to the Treasurer of the Corporation of the United Counties of
Northumberland and Durham, annually on or before the date in. each year
upon rshich pa-,~ments in respect of the said debentures fall due.
F.EAD A FIRST ARID SF'•COND TIME THISIST DAY OF DECEMBER, 1960
Reeve Clerk
R_F,AD A THIRD TIT+TE AND FINALLY MASSED THIS 1ST DAY OF DECF.t•~BER, 1960
Reeve Clerk