HomeMy WebLinkAbout1464A by-law to provide for borrowing the sum of $149,000 upon debentures to defray the cost of the building and furnishing of a public school to be erected in the south ward
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1 That f or the purpose aforesaid, there shall be
borrowed on the credit f °f
the vorpor�;tion at 1ar�e tlie' sum of
One Hundred and F or ty -nine Thousand Dolla rs and debentures shall
be issued therefor in u ienominc,tons of ,r of less, tr�an : 100.00 each
bearing in
st a t tii'e rate of
able annual ly, and having coupons s:ttached thereto
p er annum a _y
r
<r f or* the payment of interest.
t The debentures shall be dated th'e day of
and shall be a of e In tti: ent y annual instal ci ents
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on .the f day of e in each of the years, // to '
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lntere st_ - `ayui%: er. each, of sue years. shah. n:e. a.s. set forth- -in..-
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t' Schedule "All hereto attached. t '�
The debenture's as to both principal and inte,r est
sha3.1 be payable in lawful honey of a.nada, at t he branch of the t
By.nk of "on treal in the Town, of Boviu z:�nvl lle . or at the , office of the
Runic io,al. Treasurer in the Town of . B �T-a an vi Ile , at hol dery s . option.
The debentures shall be s ealed vtiTitrl the Seal of the
Corporation and si6n ed by the Lay or or by some other pe rson author- .
b By-law t s i •n the sem e acid b th, e • Treasurer* The said
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- interest con Dons shall be si jne d. by the Treasurer and his si&na tur e
thereon rmayr be written, s tct,:ped, litho6ra:,) hed or en6r2 veil.
G06uenoing in . the year l and thereafter in
eaoh, year in which an instalment of 1) rinci pal of the said debt and
interest became due, the Corporation shall levy and raise the
� specific sum shown for the respective year In the c o lump
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of the said Schedule. Such sum shall be levied and raised by a
special rate suff icient therefor over and above all othar rates,
upon all the rateable property in . the Tunic ipal ity.
60 The Corporation shall have the right, at its
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option, to redeem the said debentures either' in whole or in part . on
any date prior to maturity at• the places where and in the moneys in
whiroh the 'said .debentures are expressed to be payable u on
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of the principal, amount thereof together with interest accrued to ,
the date of r ede.'nptidn and upon giving previous no tic e of said
b advertising intention to redeem y g once in the Ontario Gazette and
once in a daily newspaper of general provincial circulation,
published in the City of Toronto, and once in a local newspaper,
such notice to be advertised as aforesaid at least thirty days
before the date fixed for redemption. Notice of intention so to
redeem shall also be sent by post at least thirty days prior to
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the date set f or such redemption to each person in wbose name a
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debenture so to be r ed eemp d is registered at the address shown in
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the Debenture Registry Book. IThe re. onjy e. portion of the Debentures
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I hereby certi'f y, that the foregoing is a true copy of B -Law' No 1464
which was given its first, and second reading, on September 28th, 1'91+8
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