HomeMy WebLinkAbout1946TOWN OF BOWMANVILLE
BY -LAW NO.
A BT -LAW TO AUTHORIZE THE CONSTRUCTION OF A
WORKS DEPARTMENT BUILDING AND TO PROVIDE FOR
THE BORROWING OF 53,727.00 UPON DEBENTURES
THEREFORE.
WHEREAS the Council of the Corporation of the Town of Boumanville
deems it expedient to construct a Building for the use of the Public
Works Department.
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 debentures
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 J 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" 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 Bommanville enacts as follows:
19 That for the purpose aforesaid there shall be borrowed from the
credit of the Corporation at large the sum of $53,727.00 and debent-
ures shall be issued therefore in the sums of not less than $100.00
each bearing interest at the rate of 5 and 1 (3/4) percentum per
annum and having coupons attached thereto for the payment of the
interests or in the alternative by the issuance of twenty debentures of
combined principal and interest, one due and payable as to principal
t
in each of the years during the currency of said debentures, and
interest payable in each year on each debenture at the rate of 5 and
3/4 percentum per annum.
-2-
2. The debentures shall all be dated in 1966, shall bear the same
date, and shall be issued during the year 1966 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 interest
to be paid in each of such twenty years shall be amounts so designated
in Schedule "A" hereunto annexed and forming pact of this by -law.
i. 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 Deputy - treasurer thereon may be written
or engraved, lithographed, printed or otherwise mechanically reproduced.
6. Commencing in the year 1967, 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 the amount of the
instalment of principal 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 4th day of October, 1965.
READ a second time this 4th day of October, 1965.
M
-3-
READ a first time this lath day of October, 1965.
.READ a second time this lath day of October, 1965.
READ a third time and finally passed this
MAYOR
k
CLERK
.� day of 1964
MAYOR
` CLERK
a
IM
Debenture
Year of
&turity
1.
1967
2•
1968
3.
1969
4.
1970
5.
1971
6•
1972
7.
1973
29817.44
1974
9.
1975
10.
1976
11.
1977
12,
1978
13•
1979
14.
1980
15.
1981
16.
1982
17.
1983
%jJw •
1984
19.
1985
20.
1986
THE CORPORATION OF THE
T OVI N OF B OWMANVI LLE
BY -LAW No. I9t;6
SCHEDULE 'SAN
Principal
_ R_ ate
interest ,
Tea
19504.00
54%
39089.30
49593.30
19558.00
3,002.82
49560.82
1,666.0
"
2,913.24
49579.24
19773.00
"
29817.44
49590.44
19881600
2,715.50
49596.50
19988.00
"
29607.34
49595.34
29095.00
"
2,493.03
4,588.03
2,203.00
^
2072.57
4,575.57
2,364.00
"
21245.89
4,609.89
29471.00
"
29109.96
49580.96
29633.00
"
19967.88
4 600.88
29794.00
"
16816.48
4,610.48
29955.00
1,655.83
4,6�±Oe6)
39116.00
"
19485.92
48601.92
30277.00
"
19306.75
49583.75
3,439.00
"
19118.32
4,557.32
30653.00
"
920.58
49573.58
30868.00
"
710.53
41578.53
49137.00
488.12
49625.12
4.352.00
n
_ 250,24�
"2,24
$539727.00
$38,087.74
$91,814.74