HomeMy WebLinkAbout2332A By-law to authorize the issue of a debenture in the principal amount of $450,000.00 for public school purposes.
has applied to the Council of The Corporation of the Township of
Darlington to provide the sum of X450,000 by the issue of Debentures
of the Corporation for the public school purposes set out in Schedule
"A" attached hereto and the Corporation has approved of said
application;
AND WHEREAS for the purposes aforesaid the Council now deems
it expedient to borrow money by the issue and sale to The Ontario
Education Capital Aid Corporation of a Debenture of this Municipality in
The principal amount of :450,000 bearing interest at the rate of 5~-~ per
annum payable semi-annually, which is the amount of the debt intended
to be created by this By-law.
NOW THEREFORE the Council of The Corporation of the Township of
Darlington enacts as follows:
1. THAT for the purposes aforesaid money shall be borrowed on the
credit of The Corporation of the Township of Darlington by the issue of a
Debenture of the Corporation in the principal amount of X450,000 bearing
interest at the rate of ~~ per annum payable semi-annually on the 1st
day of January and 1st day of July in each year of the currency of the
Debenture, upon the principal amount from time to time remaining unpaid.
2. THAT the said Debenture shall be dated the 1st day of July, 1966
and shall be payable in 20 annual instalments of principal on the 1st
day of July in the years lgb'7 to 1986, inclusive, and the respective
amounts of principal and interest payable in respect of such Debenture
in the years 196 to 19$6, inclusive, shall be as set forth in
Schedule "B" attached hereto.
3. THAT the said payments of principal and interest shall be payable
in lawful money of Canada by cheques sent through the post to the
registered address of the registered owner of the Debenture and such
cheques shall be payable at par in the City of Toronto.
~+. THAT the said Debenture shall be sealed with the Seal of the
Corporation and shall be signed by the Head of the Council or by some
other person authorized by By-law to sign the same, and by the Treasurer.
5. THAT all sums required to pay off the instalments of principal of
the Debenture and to pay interest thereon as set out in the sixth
column of Schedule "B" attached hereto shall be levied and raised in the
years 1967 to 1986, inclusive by a special rate sufficient therefor
over and above all other rates upon all the rateable property assessed
to public school supporters in the municipality at the same time and
in the same manner as other rates.
6. THAT the said Debenture be sold to The Ontario Education Capital
Aid Corportion.
7, THAT the said Debenture shall contain a clause providing for the
registration thereof pursuant to section 323 of The Municipal Act.
$, THAT application shall be made to the Ontario iunicipal Board for
approval of this By-law and for the certification of the Debenture to
be issued thereunder pursuant to sections rj8 to 60 of The Ontario
Municipal Board Act.
9. THAT Schedules "~~" and "B" attached hereto are hereby declared
to be and to form part of this By-law.
ENACTF,D this ~ L~ day of /~`'`°`
~,
. . r . ``. ~.s. ?
Reeve
1966.
Clerk
0
H
C7
z
H
A
Ga
O
r-i
x'
V]
H
x
H
W
O
~O
H
H
O
a
x
0
U
H
O
3
a
1
s
d
W
A
U
~ti
and
~~
m
N
•rl m
N N
P
O
H
m
m
m
rl
r•I
m
O
rl
a~
ti
w
~ b
~ ~
~ o
b o oa
O •ri
~ ~ U
H ~
'a
N
cd
O
W
rl
U
rI
O
.~
i•~
SS
0
0
0
0
O
O
1R
{#~
r-I
.r{
0
0
O
0
0
LO'~
#3
i
~O
W
O
~. U r-I
O W
m O ~
O ~ L''
~ r~ N U m
R ~ ~
W c0 N
O A • o cd
~ N
~ O N ~
f
-t R ~
td ~ O •rl
O c
d ~ P. £-i La F7
~
~ i
e O
C raj O ~ ~ F
i
O O
O rl Le"' U G$ N
° ~ v ~
ii .
~ ~ ~ a
k
U U] S
i ¢ 4-i ~
+i +' A o m P,
O x ~
.~' ~ ~
p, mm O • •,-I O 6•i
+ ~ O
N $ N m Li
O
H H H ~ N N M
THE CORPORATION OF THE TOWNSHIP OF DARLINGTON
BY-LAW N0.
SCHEDULE "B"'
1 2 3 4 5 6
PAYMENT DATE PAYMENTS ANNUAL AMOUNT
NUhSBER DUE PRINCIPAL. INTEREST TOTAL LEVIED HEREUNDER
1 Jan. 1, 1967 ;~ ~b 12,375.00 ~ 12,375.00
2 July 1, 1967 ~ 13,000.00 9£ 12,375.00 ~ 25,375.00
3 Jan-. 1, 1968 12,017.50 12,017.50
4 July 1, 1968 14,000.00 12,017.50 26,017.50
5 Jan. 1, 1969 11,632.50 11,632.50
6 July 1, 1969 14,000.00 11,632.50 25,632.50
7 Jan. 1, 1970 11,247.50 11,247.50
8 July 1, 1970 15,000.00 11,247.50 26,247.50
9 Jan. 1, 1971r 10,835.00
~ 10,835.00
10 July 1, 1971 16,000.00 10,835.00 26,835.00
11 Jan. 1, 1872 10,395.00 10,395.00
12 July 1, 1972 17,000.00 10,395.00 27,395.00
13 Jan. 1, 1973 9,927.50 9,927.50
14 July 1, 1973 18,000.00 9,927.50 27,927.50
15 Jan. 1, 1974 9,432.50 9,432.50
16 July 1, 1974 19,000.00 9,432.50 28,432.50
17 Jan. 1, 1875 8,910.00 8,910.00
18 July 1, 1975 20,000.00 8,910.00 28,910.00
19 Jan. 1, 1976 8,360.00 8,360.00
20 July 1, 1976 21,000.00 8,360.00 29,360.00
21 Jan. 1, 1977 7,782.50 7x782.50
22 July 1, 1977 22,000.00 7,782.50 29,782.50
23 Jan. 1, 1978 7,177.50 7,177.50
24 July 1, 1978 23,000.00 7,177.50 30,177.50
25
6 Jan. 1, 1979
4 6 545.00 6,545.00
2 July 1, 1979 ,000.00
2 ,545.00 30,545.00
27 Jan. 1, 1980 5,885.00 5,885.00
28 July 1, 1980 26,000.00 5,885.00 31
,885.00
29 Jan. 1, 1981 5,170.00 .
5,170.00
3o July 1, 1981 27,000.00 5,170.00 32,170.00
31 Jan. 1, 1982 4, 427.50 4, 427.50
32 July 1, 1982 29,000.00 4,427.50 33,427.50
33 Jan. 1, 1983 3,630.00 3,630.00
34 July 1, 1983 30,000.00 3,630.00 33,630.00
35 Jan. 1, 1984 2,805.00 2,805.00
36 July 1, 1984 32,000.00 2,805.00 34,805.00
37 Jan. 1, 1985 1,925.00 1,925.00
38 July 1, 1985 34,000.00 1,925.00 35,925.00
39
4o Jan.
July 1,
1, 1986
1986
36,000.00 990.00
990.00 990.00
36,990.00
450,000.00 302,940.00 752,9~+O.oo
'~
37,750.00
38,035.00
37 , 26 5.00
37,495.00
37,670.00 ~
37,790.00
37, 8 55.00
37, 86 5. o0
37,820.00
37,720.00
37, 565.00
37,355.00
37,090.00
37,770.00
37, 3~+0.00
37,855.00
37,260.00
37,610.00
37,8 50.00
37,980.00
752,940.00