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HomeMy WebLinkAbout1539' 000.00 upon debentures for A B -Law authorizing ,.the borrowing of 25, P -- Y • the purpose of completing the cost Pf installing artificial ice in the Vexr or ial Arena in the Town of Bowmanvi lle e AHjM se of completing in EAS for the purpose p g the cost of installing artificial Joe in the Memorial Arena in the Town of Bowmanville, it' is necessary to borrow the sum of $ 25 ,000.00 . on the credit of the Corporation at large and to issue debentures therefor, bearing interest at, the rate of Five er centum er annum f t o be c y or ten years, which is the amount of the debt intended created b this By -Law. t i ' a roved of the said - - - -- - r AND ;I1ii3EREAS the Council of the said Town has pp borrowing. AND &-ISREAS the amount of the whole rateable property of the Murii:cipality oll is 3, 12 9 700 g _ revised � r _ accord in to the last rev' se assessme AND N iTAREAS the amount of the existing debenture debt of the Corporation u ust 7th, 1952 is 6919 365.2+ , and. no part of the principal as of A g ? , , , and interest is in arrears. r .s ., r w 1". . ' .x. }e.•-,. ..,y { �..3`>_ ,: r,, '. ..:..: -.. -,. .....,. n.a- ,. , r v' .,.r e' r r 17" tY� e Omar io �Itun i c ipal Board has a pprowed t he. purpose of borrowing and the passing of all requisite by -laws, including debenture r. g . b�r -1 aws . ( r th�e Municipal Council of the Corporation of the Town of , NON THEREFOR E � P Bowmanvi lle enacts as follows ; - le That for the purpose aforesaid there shall be borrowed on the credit of the Corporation at large the sum of . Twenty Five Thousand Dollars and debentures shall be issued therefor in denominations of not less than 10o . 00 each, , bearing interest at the rate of five per cent r annum payable annually, and having coupons attached thereto for the payment, of interest* the day of debentures shai.�. be date /// 'Al and sh be pa abl in, ten annual instalments n the _ c � of the ears / �/ to �o a day of in ea h Y inclusive, and the r°e s e et ive amounts of principal and interest - i P _ in each of such:.. y ears.. shall be as - _ + S Forth in Sahedul:® may' _ n n ert4 attached . s. ..: -_: ... i... ,_.:.c_,.,:xii...zraa...>_...r '._., ..;.,':: :.: A:.. : :: h._.. ... .... ....: ... ... -: .. _. _... .. .... ... ..... .. ... ....r _............. .. The debentures as to both principal. and interest shal 1 be pe�y ab l e In lawful m ©near of Canada at the branoh of the Bank of Montreal x , in the Town of Bowmanvi lle or at the office of the Municipal Treasurer in the Town of Bovaanvi l l e , at ho l filer' s option a11. be saled with the Seal of the Corporation e y.; The debentures shall. and signed by the Mayor, or by some other person authorized by B By -Law to sign the same, and, by the Treasurer* Treasurer, and his The said interest coupons sha11 be signed by the thereon be written, stamped , lithographed or engraved* r signature, may In the year / 3 and thereafter in each year in which F' 5 . C o�manenc ing Y an instalment of principal of the ;said debt and interest become due, the Corporation shall levy and raise the specific sun shown for -- - - - -.. _the respective year in the 4th column of the said Schedule . Suioh sum shall be levied and raised by a special rate sufficient therefor , over and above a ll:..ot hear rates, upon all the rateable property in the Municipalit y. r S , t. its + 6 The Corporation shall have the r i•ght , , at Ats 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 which the said debentures are expressed to be payab la , upon' payment of the principal amount thereof together with interest accrued to the date of redemption and upon giving previous notice of said intention to redeem by advertising once in th e Ontario Gazette a , nd 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 a dve rt i s i ed as a f ore sa Jd a t 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.th a __date__ set _Forth__ __for_ such redemption to each person in whose nine a debenture so to be redeemed is registered at the address s shown in the Debenture Registry Book. Where only e, portion of the, debentures of this issue 'is so to be redeemed, such portion shall +L comprise only the debentures that have the latest maturity dates and no debenture of this issue 9ball be call ed_ . for such red.empt l on In priority to any such debenture than has a later maturity• date. B AC k f Q � v P .s r • c yK IVT mm ER�kN"