HomeMy WebLinkAbout1737A By -law to authorize the issue of
Debentures in the principal amount
of $200,,235 for the purposes herein
mentioned.
WHEREAS pursuant to the provisions of The Public'
Schools Act, The Bowmanville Public-School Board has made appli-
cation to the Council of The Corporation of the Town of Bowman -,
ville for the sum of $200,235 to be raised by the issue and sale
of municipal debentures for the purposes of acquiring a school
site, erecting thereon a six -room school and purchasing equipment
therefor.;, ,
AND' WHEREAS the Council of The Corporation of the
Town of Bowmanville has approved of the said application and
deems it expedient that moneys be borrowed for such purposes by
the issue and sale of Debentures. of the Corporation in the
principal amount of $200,235 bearing interest at the , rate • of 6k=1/2%
(. per annum and repayable in instalments of , principal over a term
,not, exceeding twenty years,
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NOW THEREFORE the Council of The Corporation " of the
Town of Bowmanville enacts as follows:
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1. THAT for the purposes aforesaid money shall be
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borrowed on the credit of The Corporation. of the Town of Bowman -
ville at large by the issue and sale of Debentures of the Cor
potation in the principal amount of $200,235, The said Debentures
*hall bear interest at the rate of 6 -1 /2% per annum payable
annually on the 15th day of October in each year of their currency
and shall have coupons attached thereto for the payment of such
interest.
20 THAT the said Debentures shall all .. be dated the 15th
f y of October, 1959 and shall be payable in twenty annual dnetalew
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ments of principal on, the 15th 4ay of October in each of the years
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196o to 1979, both inclusive, and the respective ' amounts of
principal and.interest payable in each of such years shall be
as set forth in Schedule A hereto, which is hereby declared
to be and form part of this By -law,
THAT the said Debentures shall te, payable as to
both principal and interest in lawful money of Canada at the
office of the Bank of Montreal in the Town of Bowmanville, or
f at the principal office of the said Bank in either of the Cities
of Toronto , or Montreal, at the holder's option,
40" THAT the said Debentures shall be, sealed with the
seal of the Corporation and shall be signed by the Mayor, or,by
some other person authorized by by -law to sign the same, and by
the Treasurer. The interest coupons attached to the said Deben-
turesshall be signed by the Treasurer and his signature thereon.
may be written, stamped, lithographed or engraved.
56 THAT in each • year of the currency of the aid Deben
tures there shall be levied and * raised, by special rates sufficient"'
therefor over and above all other rates, on all the ratable property
of supporters of public schools in the Town of Bowmanville, at the
same time and in the same manner as other rates, the respective
amounts falling due for principal and interest in , such _year as. -
set forth in said Schedule "A ".
60 THAT the said Debentures may contain,any clause
providing' for' the registration thereof authorized by any statute
relating to municipal debentures in force at the time of the
issue thereof.
70 THAT this By -law, shall take ' effect on the ,day of
the final passing thereof, I
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READ a first and second time the . day of
act 1959*
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RZO a third time and Finally passed the -f
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THE CORPORATION OF THE TOWN OF BOWMANVI1-1
BY -LAW
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:SCHEDULE
'A'
Total
Year
Principal
Interest 4'
Annual_Payment
,1960
$ 5,15 7.33
$ 13, 015.28
$ 18,172.61
1961.
6, 077,.67
12,680.05
18, 757.72
1962
7-0000,00
12, 285.00
1%285 .00
1963
7 000•.00
11S830,00
• i8, 830.00
196
71v0OO-P001
11 .9 375 . o0
18, 375 .00
1965
7, 000.00
"110, 920.00
17,9920.00- ;
166
8, 000.00
1.0, 465"00'
18 X65.00
{q;
1967
8, 000 . oo t ...
9, 945.00
„r 7, 9 5 -
1968
9 000 , oo
, 94425 .00'
18, X425 . o0
1969
9, 000 . oo
8, 8�'0 , o0
1 840 �. o0
7,
1970
_
10,000.00 1
� ,8 255.00
,
. 18 255 .00
1 1
� 10, 000.00
70-605,00
17, 605.00
972
:
i 1, '000 . oo
6, 955 . oo
< 17 ,9 955 .
,, - -- - -1-
9 3
0000.600
--6-2-240900
o . o i
1 7
9
12 000.00
5, x'60.00
VIP 00
1975
13, 000:. oo
- -, 680. oo
68 00
i7, o .
1976
�• 000 00
,
8 5.00
3, 3
.17 835.00
1977
15, 000 . oo
20 925 . o0
17, 925.00
1978
150- 000 . oo
: 1, 950900
16, 950.00
`
i979
15,P 000 000
975.00
5 975 00
200 235 .00
$159,660*33
$'359s895*33,
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