HomeMy WebLinkAbout1627THE C ORPORATI oN OF THE TOW OF, BOAMNVILLE
w to amend By-Law No 1605 and repeal By -Law No • 1621
A By -Law ..
WIIERNAS the Council of the Corpcar ation of the Town of Bowmanville did pass
on the 6th da of February, 19569 By -Law No 1605, being a By -Law to authorize the
borrowing of 1 110,000.00 upon debentures to defray the cost of building and
furnishing of a six room addition to the Vincent Massey Public School on Church Street
S for the advanta eons 'marketing of the said debentures it is
AND LIIHEREA o 8_L w No 1605 be amended&
necessary that certain clauses f By -Law
NOW THEREFORE the Counci 1 of the Corporat ion of the Town of Botnmanv ills
enacts as follows;-
That the third recital of By -L w No 1605 be' amended as f ollows ;
1' r annum, deleted and the rate of 41 % per annum be
That the rate o f 1� �6 p'e
substituted therefore, so that the recital shall read as follows; -
,A,ND WHEREAS for the purpose of constructing and a quiping the said Public
School it is necessary to borrow the sum of One Hundred and Ten Thousand Doll ers
ar the credit t Corporation .t l ar and t o _j r .uc ci,eb entur�e s therefore.,
��
bearing interest at the rate of Four and Three Quarters per centu�a per annum.
(
4 % ) 'which is the amount of the debt intended to be created by th is By -1,w .
That the f first paragraph of By -Law No 1605 be amended as follows ; -
1 per annum be deleted and the interest rate of 41 % per
That the rate of 4. fib p
annum be substituted th erePore , so that the paragraph should read as follows; -
n .That for purpose aforesaid there shall be borrowed on the credit of the
the sum of One Hundred and e'en - Thousand Dollars,, and
Corporation at large
debentures shall be issued therefore in denominations of not less than 100.00
each bearing interest at the rate of °� per annum, payable annually, and
having coupons attached thereto for the payment of the interest.
a 6 By-Lay No 1605 is hereby repealed and deleted from, the By -I,aw
3. That paragraph of By a
" A of -L w No 1605 is hereby repealed and Schedule " A " of
4,. That Schedule By
By
is
t -Law i s• Nerefore;
substituted h ,
5 0 By -Law No 1621 is b+e reby repealed* ..
.,w
-- -da- of .
ZtE001011 st second and third time and ! inally , .passed this
.Read ,
19560.