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HomeMy WebLinkAbout1201 A by-law for the sum of $100,000.00 for the purpose of building an additioin to the present High School and for equiping same as per plans submitted and approved by the Department of Education. 'carer a. :?v. 4 .v Wn. .L , pi. e.Lsf r r. �;. .ir.rf_r,. _ . s_ # $i .vim .; - -.. .:,, ' g, .1 ......,;-... a ...,�.., r�r,.....- t. .,. ... �f_ ...t '„' • ".'`&' _ °+y i ,.r m¢ , . .,. .- .c af,,•.:,` T Vii. f A r 1 I s Irr, eia Bar-L►w NO Bywl:aw �of the IC orporat i. on of the '1'own of Bowmanvi l le `L authorizing the Iesu© of Debentures for the sum of One Ihind red Thousand Dollars for the purpose of building an ,adroit i on to the present High School and for equiping same as per plans subm1tted and ppproveO by the hepartment of Edlloati. on. AAD VfflMiWS the High school Boar4 bavi ng made application to the Municipal 13ounei1 of the Corporation of the. Town . of Bowmanville fpr a special grant of 4100 ,000*00 to make certain extensi one to the present High "drool and for eq.uiping same as per plans submitted and approved. by the Department of Laucat ion , Toronto. AND WHE10IAS in the opinion of the Municipal - bounci lof the n Corporation of the down of Hov�manville that the application of the High School Board for 4100 ,000 . 00 shpuld be granted , therefore the : Municipal Council of the Town o-f Bowrlanvi l l e enacts ns fol'.1 ows ; - F1, rst • - at for the, purpose aforesaid , there shall be borrovPed on ,the - credit of the Corp�•oration at large. the sum of $1009000000 One Iin ' Bred Thousand h of iars , and debentures shall be Issued ° there for in sums of riot less that �100 . 00 one hundred Dollars each bearing interest at the rate of per cent . � e.r annum , and having `coupons attached t hereto for the purpose of interest . Thie Debentures shall all bear the same date and shall 'be issued , within six months after the date ' , .that this By"-uaw was passed , r and ” may bear any date within sine h ' six months grid shall be , parable i n . thirty annual installments, during the thirty, years next after the E time when the same arc issued and respective amo��n s of. principal and int a re st payable i n e as h o f such years shall ,rbe as s611 forth schedule "A" he annexed which schedule is hereby �declared to be and form part, of rt h l y.--yaw The said Debentures shall . be pr�yab�.e at t h� local iiranch © f the Ban k of Montreal In the T own o f B owrlanvi 1 le . During the thi ty years the ourrenoy► of the debentures the turn of shall' be raised annually for the payment of princi pal and interest by a ' special rate sufficient th e re for over and above all other rates on all the rateable property in the Municipality at the sarnP t inq;e and in the same manner as other rates, p, p And r�hereso r the amount of. the whole rateable pr erty of the b�unicipality according to the , last re,vi $ed assesament roll is a $292275 ,D5350 And whereas the amount of the existing debenture debt of the Corporation exclusive of Lo-cal,1mprover-ent . debts 'secured by dividedas . follows • - apeaial rates oct assessment ) is Waterworks and sewerage D..ebenturPs All others And no part of the principal or interest i's in arrears , and agsf nst the said general debenture. debt they said Corporation has a sinking fund in possession of Victory Bonds and debentureoL of other , Corporations which ' it has acquired amounting to � The Mayor of the C or porat i on - shall sign and issue the debentures and , the samer and the interest coupons attached thereto shall also be signed, by the �resaurer. of the Corporation and the Debenture's 'shall be sealed with ,the seal of the Corporation the Debentures may contain any clause providing ' for the registration thereof authorized by any statute relating to' 31 Municipal Debentures at the time of the issue thereof. This Bx-Lam shall take a ffe c on the day of the fi nal x parsing thereof � � Passed the day of 1929•r /.0A! .+- C �.�; A Mayor . r r I .'w rti y f 4 rry n ! 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