HomeMy WebLinkAbout1927TOWN OF BOVIKANVILLE
BY -LAW NO. 1927
A B;-law to provide for the borrowing
of 148,$24.00 upon debentures for
the purpose of construction and
equipment of a Public Library.
WHEREAS the Council of the Corporation of the Town of
Bowmanville deems it expedient to construct and equip a Public
Library.
AND WHEREAS it is expedient to provide for the principal
of the debt to be repayable in annual installments during the
period of twenty- years next after the date of issue of such de-
bentures with interest annually upon the balances from time to
time remaining unpaid;
AND WHEREAS the sums required to be raised in each year
during twenty years the currency of the debenture to be issued
hereunder, to repay the principal thereof, together with interest
at the rate of 5 and 3/4 percentum per annum payable yearly are the
sums set out in Schedule "A" hereto annexed and which schedule forms,
part of this by -law, that portion of the said sum shown in column two,
of the said Schedule "A" ��^ ^ „ ° +^ _,Rnem ^a and wlgj Ah °^I^^a"I ° fe
0--f- th-J-6 by law, that 90VA-40A Qr, the said 041M show -in V.-II
Jan. two Of
'fiw t'� being considered payment of principal on the
said debt and that portion in column three of the said Schedule "A”
as being interest paid on the said debt.
THEREFORE the Municipal Council of the Corporation of the
Town of Bowmanville enacts as follows:
1. That for the purpose aforesaid there shall be borrowed from the
Credit of the Corporation at large the sum of $1451$24.00
and debentures shall be issued therefore in the sums of not less than
$100.00 each bearing interest at the rate of 5 and 3/4 percentum per
annum and having coupons attached thereto for the payment of the
interest, or in the alternative by the issuance of twenty debentures
of combined principal and interest, one due and payable as to principal
in each of the years during the currency of said debentures, and in-
terest payable in each year on each debenture at the rate of 5 and 4/4
percentum per annum.
-2-
2. The debentures shall all be dated in 1965, shall bear the same
date, and shall be issued during the year 1965 after the passing of
this by -law.
3. The debenture as to both principal and interest shall be payable
in Canadian currency and may be payable at any place or places in
Canada as shall be designated thereon.
4. The principal of the debt shall be repaid in twenty annual
installments after the date of the issue of such debentures with
interest annually upon the balances from time to time remaining
unpaid. The respective amounts of principal to be repaid and in-
terest to be paid in each of such twenty years shall be amounts so
designated in Schedule "A" hereunto annexed and forming part of
this by -law.
5. The debentures shall be sealed with the seal of the Corporation
and signed by the head of the Council or by some other person
authorized by by -law to sign the same and by the treasurer. The
said interest coupons shall be signed by the treasurer and his
signature to them may be written or engraved, lithographed, printed
or otherwise mechanically reproduced. The signature of the head
of the Council may be written or engraved, lithographed, printed or
otherwise mechanically reproduced and, if such debentures are
countersigned in writing by the deputy - treasurer, the signature of
the treasurer thereon may be written or engraved, lithographed,
printed or otherwise mechanically reproduced.
6. Commencing in the year 1966, and thereafter in each year during
the currency of the said debentures or any of them there shall be
levied and raised in each year in which an instalment becomes due
by a special rate sufficient therefor, over and above all other
rates on all the rateable property in the Municipality assessed to
supporters of public schools the amount of the instalment of princi-
pal and interest payable in that year as set forth in Schedule "A"
hereunto annexed and forming part of this by -law.
READ a first time this
READ a second time this
-3-
27th day of October 1964.
27th day of October 1964.
MAYOR
C RK
r
READ a third time and finally passed this SAay of 196)i.
I, Jack L. Reid, Clerk- Treasurer of the Corporation of
the Town of Bowmanville, hereby declare this to be a
true copy of Town of Bowmanville By -law No. 1927 which
was given Two readings by the Bowmanville Town Council
I%W on the 27th day of October, 1964.
Clerk
In
Debenture Year of
THE CORPORATION OF THE
TOWN OF B04MANVILLE
BY -LAW NO.
SCHEDULE "A"
NO
Maturity
Principal
Rte_
Interest
Total
1
1967
4,167.00
50
89557.38
129724.38
2
1968
4,316.00
"
89317.78
129633.78
3
1969
4,614.00
"
8,069.61
129683.61
4
1970
49911.00
"
7,804.30
129715.30
5
1971
59209.00
"
79521.92
12,730.92
6
1972
5,506.00
"
72222.40
129728.40
7
1973
59804.00
"
69905.81
129709.81
0
1974
60102.00
"
69572.08
12,674.08
9
1975
69548.00
"
69221.21
12,769.21
10
1976
69846.00
"
59844.70
129690.70
11
1977
79292.00
"
5,451.06
12,743.06
12
3j.978
79739.00
"
5,031.77
12,770.77
13
-1979
89185.00
"
4006.78
129771.78
14
1980
89632.00
"
40116.14
12,748.14
15
1981
99078.00
"
30619.80
12,697.80
16
1982
9,525.00
"
39097.81
120622.81
17
1983
109120.00
"
29550.13
129670.13
1984
109715.00
"
19968.23
129683.23
19
1985
11,460.00
"
1052.11
120812.11
20
1986
12.055.00
"
693.16
,12.748.16
$148,824.00
$1059504.18
$2549328.18
on