HomeMy WebLinkAbout1778A by-law to authorize the issue of debentures in the principal amount of $180,079 for the purpose of granting aid for the Bowmanville Memorial Hospital
Y 1-778
5s
re the 1 sue of
Being a Fy-iaw to auti-LorL
-
Debentures In tf-ie grin c-Lpal ai. noun
t of
$18cJ070.0 0 .for, t 1 -ie purpose of.' granting
,
aid
to the Eo= an v lle Memorial Hcspita-l-
WHEREAS , the C"Ounc i I of-, Tfie, Cor.po,rat.ion', •of the TL o n of
M. rmanv CL
'ille deems it expedient', to q; r a n t- aid to the cTqm,
an v
0 0 un
Memorial Hospital, being a public li'spital, n"
'A
$18o,079.0() under-the autbority of Section 38" 29) of The Munieipal,
Act to pay the cost of c c
cons and equipping an addition to,,,
the said Hospital,
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AND W11P.REAS it is deemed expedient to bo rrow money or
s.iich' -purpose -by the issue. and sale of Debentures of. The, Corpora t-0 on
of the Town of Bowmanville in the principal a'rrioun,t of $180,079-00'
rest at the rate of .!:112d
bearing interest 5 .15 per ann tra,. payable annually,,
which is the amount of the debt intended to be created by this By -law;
'
AND WHEREAS it is" expedient to provide lfor ,the principal
of the debt to be repayable in annual instalments during the period .
'
of twenty. years next. after the. date o f issue of such Debentures with
interest annually upon the balances from time ,to time remaining Unpaid
NOW THEREFORES the Council of The Corporation of the Town
of f BowinanVille, ENACTS AS FOLLOWS:
T HAT for the purpose of granting ,aid to ,�he
Bowmanville
Memorial Hospital for the construction and equipment of an additioft,
,
to. the said Hospital money shall be borrowed upon the credit of The
-
Corporation of the Town of Bowmanville.by the Issue and sale of
Debentures of the, said Corporation in the principal amount of
$180,079,00 bearing interest at the .rate of 5-r1/2% per annum and
having coupons attached thereto 'for the payment of said interest
Yy
annually on the lst day of November in each year of the currency
of the Debentures&
2e THAT the'said DebentureB shall all be dated the 1st day
of Novembery 1960 and shall be payable in twenty annual instalments
'on the 1st day of November in each of the years 1961 to 1980, inclu-
' 1,IX,0410f. �.Oh . , v4WI
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VOLUS
"1 11 1,
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IF
2,
a shall be as set forth in -S
in each of such years ;Schedule "A" h.ereto,,,
which is hereby" declared to be and to form part of Chris Fy - 1 aw. ,
aab`e as to both principal.
3. The; s a I d De'�.1entu.rcs small be pCI y
and into-rest In lawful, money of,Canada at the office of the Banes of
Montreal in' the: T6wn of ov.i nanville,or at the principal office of
the said Tank in el-ther''of the Cities of Toronto 'or -'Ion treal, at
the holder's option.
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40 The said Debentures bhall be sealed v; -Ith the Seal of the
Co the Mayor., or b -y some, other - person
i- poration and signed . by
authorizedby by--law to sign in his stead ,and bj,the Treasurer,
D �
The interest-coupons attached to then, said ebentures shall be
by the Treasurer and his signature thereon may be written,
..Stamped., lithographed or engraved.
_' the
In each of the years Igul to .198 O' inclusive,,
-�Ipal and Interest set 6'u''
respective aggregate amounts of p r ih c ..L t
in the fourth column of Schedule A hereto shall be levied and
,raised by a special rate sufficient 'therefor over and d-above al
other rates, at the same time and in the sG_ne manner as .,ether rates
on all the ratable, p .m -roperty in the Town of Bowanville and 'shall
.
be applied in payment of the ,in t e 'rest on the Debentures and the
respective-L',ins,talments of principal as the same become due and
-payable,,
6 The sa-d Debentures' may'. contain a c laus,,e prov iding fors'
the regi stratiun thereof pursuap,, t ,' to Section 335 of The Municipal
Act"s
Pending the is sue. and' 'sale of the ,said r Debentures the
Ma or.and the TreasUrer may agree with a bank or person for
, ,
..tenporary advances f rom time to time to m eet expenditures in
for the purposes aforesaid.
READ a f irs t. second -and third . tine and finally passed
th-15 17th day of October., 1960*
Cie Mayor,
M 01 om"W"
W#U
'AF
tm
KAXAA_�k
1978
120000,00
2, 200.00
14.9200,00
1979
4wv.000 o 00
s540,00
� �
�
. 35� 540 , oo (.
THE
CORpORATION: OF THE,
TOWN OF BOWMANVILLE
00,00
BY-LAW NO*
1778
14 ?? °. 900
SCHEDULE
A
_
180,907 9000
120.P784-s35
300#863-35
toTAL AMAL
YEAR
'PRINCIPAL
INTEREST
PAYMENT
1961
5.*079-00
9,v 904.35
14, 983.35
.1962'
6'000000
9, 625 00
49
15, 625.00
1963
6,000-00,
5,295*00,
150295.00 ,
:1964
6- 000-00
8,965,00'
4 _ 965, 00 '�
6,000.00
8,635,00 1
:L4-635,00
1.966
Tp 000.00 -
8'305,00
J
15.93 05,00
1978
120000,00
2, 200.00
14.9200,00
1979
4wv.000 o 00
s540,00
� �
�
. 35� 540 , oo (.
00,00
770*00
14 ?? °. 900
1980 0 ".4L
142io
_
180,907 9000
120.P784-s35
300#863-35
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