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Home My WebLink About1253IL 0 ?:j9 OA BY"TAW No A By- low of the Corporation of the Town of Bomanville tp provide for borrowing #820D#00 upon debentures to pay for the oonstrdotion Olt oertain local Imptovemontso WUMAS pursuan t; t; o o one t ruo t i on By-law N o X /.,z r, e6rtain works 3havre been constructed of the nature, on the streets at d between the points e13 shown in Columno 3.4. and 5 of schedule t A hereto attached, as loosi Improvements under the provisions of the Local Improvement .,Aote -of such works AND RHAS the total cost of each the Corporations I ortion thereof, and the owners portion thereof,( and for the owners P share of the cost' of each of which such works, a Special Assessment roll are shown In columns 7 and 8 respectively has been maleand certified of, said schedule A 9 two t AND WHSRHAS the ealstimated 16fetime of each of said works ii n y Ve ar 0 AND WHERE It is necessary to bowrow the sum of 892000009, being the Total cost of allthe said works, as shown In 'Column 6 of said Sehedule A on the credit of the Corporation, and. t o issue - debentures, t an um, therefor, bearing intereet at the rate of 5 per ent per n which -of the Rebt Intended to be create& by the By -Law* .1s the amount of t he sal AND WHEREAS it.is'expedient to make the'principal debt repayable In yearly sums during' the period of twenty years, of such amounts respedtively, that the aggregate amount payable for prrino.ipal sni interest; in any year shall be equal. as nearly as may be, to the amount so p able for prIncipal and interest in each of the other years. &Y AID WEER it wlll�be hdoessary to raise annuall the sam as shown In column 9 og said Schedule A. aggregating $6890,17 during the said yearly sum of principal and the period of twonty years to pay interest as they become due of which the sum,shown in oolumn,10 of said 'the Corporations p do'hedule A aggregating 215934 are required to pay portions of the cost and Interest thereon, and' the sum, as shown* in Oolumn a gregati 11 of-said Schedule A 9 ng 470-83 is r.eqFired to pay the owners portion of the,. 0 and Interest thereon* AND WHMVA S the amount of the whole rateable property of the roll 1,134 29399550 Mani o 1pali t 7, ac a ord ing to the last, revised assessment MM WHEMS the amonnt of the existing debenture'debt of the, Oorporation,, excluslvG Of Local Improvement debts secure& by speeial rates' of 8813988m'ent' is 7 J17 and npne of the.prinolpal or -interest, is in arrears* Jr. NOW THFMFORE the MIM101pal Council of the Corporation.of the.. Bo Toft 0 anville enacts as�-followe; Fits t hi%.11* be borrowed on the that for the purpose aforesa-li there,s M orelit of the Corporation at large i he em' of $8200,000 and, n o.t, lea e 't ha* 50bentures shall be issued 'therefor,in,sume of 51 per cent per' $10(400 each, bearing interest at t.he rate of annum, and having coupons attached t he ret o for the-payment of the interest,* oond; The debo6ntures shall:all be date& as,of the day, 'of 'in twenty annual installments on the' To 195 1931, and shall be payable In eae -of the yea day of h 1932 to A the respective amounts of p inolpal and Interest r inclu, ive, an h In chadule payable In each of such years shall be as set fort B 'her6to annexed* Tbird'o t o both principal and interest shal-11e expressed,, The Debent1tres as laces dy and,may be made payable at any place or p in Canadian urren in Canadae 'bentures !1, earth and issue the do f the Corporation shall sign the The,�Mayor shall be signed by coupons the do entures and interest,' 1)ebenture& shall b 0 se ale d. with the seal a esurer nd the Tr t he Treasurer -upon 'the. Rnature of 0 "Whe Corporation and the si.. btamped, It tho hod or engr4044. GoU:Pons may be written, grap i�ji VuLM 3 - i 2 Pift,hew Daring twenty years, 'the eurrenoy of the debenture e, the sums shown in column 9 of said Schedule " A ", aggregating s 686,en shall be raised an ,ivally for the payment of the debt and interest as follkre; - The sum shown in oolumn 14 of said 3ehedule " A " aggregating 4215*34 shall be raised annually for the payment of the Corporations portion of the cost and the interest thereon, and shall be levied and raised annually, be a speolal rate suffieoient therefor I over and above all other, rates on all the Aateable property in the Municipality, at the same time and in the same manner as other rates. 'Yor the payment of the owners portion of the oost of each of the said works and interest thereon, the special assessment set forth in the dai d special assessment roll Is hereby imposed upon the lands le liable therefor as therein set forth, which said special assessment e with a suns sufficient to cover-interest, thereon at the rate aforesaid, shall be payable in twenty equal annual installment s for the payment of the ambun t s shown In column 11 of said chedule ",A " aggregating x`70.83 and for that purpose the respective special annual' rates perfoot frontage set forth in the respective special assessment rolls are hereby imposed upon eaarh lot mentioned in the said respective assessment rolls for each of said works' according to the -assessed frontage thereof over and above all other rates and taxes, which said special rates shall be collected annually by the collector of taxes for the Corporation at the same time and in the same manner as other* rates. The debentures may contain any clause providing for the registration thereof,' authorized by any statute relating to Municipal Debentures in foroe, at the time of the issue thereof. aewenth-; - The amount of -the Lean att hori zed by t hia . By-law, may, be consolidated -with the at 'ount of any loan authorized by other Local mprovement By -Laws by including the same with such other loa loans in a consolidated By -law authorizing the borrowing, of the aggregate t ereof e►e one loan and the issue of debent . ures for h such loan in one consecutive issue pureftat t o 6t,he provisions of the statutes In that behalf. , Eighth;, l This By -Law shall Peake effect on the day, of the' final 'passing the reof . r Passed this- -% day of 'Pe 1931 ' • IL Mayor lark. } f J E • 1 4 P - VL)LLM 3 z -f jr SCHEDULE A - no N 8ature of Street From To Total Cost Towna Owners Amou*A t o be rai ae d annualZ fp v - Work or on Fortlon Debt ' of Portion F�o�awt* an 1 dower Brown queen vi o t on s -1453.50 338.25 -1115.2 5 -- - - ►4.35 � - _ -= = -- _ - - -- -- -- - -_ -- , 2 Iff$termain Brown _ �p.+a an - - Rio t ari s _ _ 1579 0 2$ 4 7 . 8 (38 �- 9 2 - - 8 -. -p - - - _ -- = - - - - - - -- - - 35 -- - -- - -- _ -- - - - -:- _ -- - _ ------------ - - - - -� 74• - _ --20 - - - 3 Va i a rma i n Song oS Di ngman s 1090 Ft N. 1427.O7 - 368-57,41%. 1058.50 -- - - -- - 8 4.68 - 4 Serer sougog Dingmans Benno t t s 1206.68 35.18 117 - - - _80.40 - - - -- - -- - - - -- - - - -- 5 fat ermai n Second F lgi n Lambe Lane 730.04 317.39 ti 412.65 35.37 v"' Lambe Lane 215 Ft S. 6 Vatermain King St George learns 20 03.43 634-53, 31368.90 12 1. 68 r 8200.0O 2181, 00 6oi9, o0 686.17 215.34 470.83 f J E • 1 4 P - VL)LLM 3 J E • 1 4 P - VL)LLM 3