HomeMy WebLinkAbout1882TOWN OF BOWMANV'ILLE
By -law No. 18$2
A By -law to authorise the issue of debentures in
the amount of $141,345 for the construction of a
sewage treatment plant in the Town of Bowmanville.
WHEREAS: The Municipal Council of the Corporation of the Town of
Bowmanville has under authority of By -law No. 1734 con-
structed an addition to the Sewage Treatment Plant;
AND WHI?,REAS: This work is now complete, the total cost of which is
$419.$92.04,
AND WHEREA3: An amount of $68,676.50 of the total cost has been forgiven
under the provisions of an agreement between Central Mort-
gage and Housing Corporation and the Town of Bowmanville;
AND WHEREAS: A part of the amount to be borrowed to pay for the said
work is the sum of One Hundred and Forty One Thousand,
three hundred and forty five dollars (4141,345.00) and it is
desirable to borrow such sum by the issue of debentures
therefor, which is the amount of the debt to be created
by this by -law;
AND WHEREAS: By Agreement dated July 17th, 1961 between Central Mortgage
and Housing Corporation and the Town of Bowmanville, Central
Mortgage and Housing Corporation has agreed to make a loan
to the Town in an amount equal to two thirds of the Total
Cost of this project, the amount of which is Two Hundred
ko
and Nine Thousand Eight Hundred and Seventy Dollars and
Fifty -four Cents;
NOW THEREFORE, THE COUNCIL OF THE CORPORATION OF THE TOWN OF BOWMANVILLE
ENACTS AS FOLLGdS:
(1) For the purpose aforesaid there shall be borrowed on the
credit of the Corporation at large, the sum of One Hundred
and Forty -one Thousand, Three Hundred and Forty -five Dollars
($141,345.00) and debentures shall be issued in sums of not
less than One Hundred Dollars 0100.00) each bearing interest
at the rate-of Five and Three Quarters per centum (5.4%)
per annum and having coupons payable annually attached
thereto for payment of interest.
;:
(2 )
(3)
(4)
M
(5)
(6 )
M 2 -
The debenture shall all bear the same date and shall be
issued during the year 1963, and may bear any date within
the year 1963, and the principal shall be payable in
annual instalments during the years 1964 to 1983 inclusive,
and the respective amounts of principal and interest
payable in each such year shall be those designated in
Schedule "A ", hereto annexed.
The debentures as to both principal and interest shall be
expressed in Canadian currency and may be payable at the
office of the Bank of Montreal in the Town of Bowmanville
or at the principal office of the said Bank in either of
the Cities of Toronto or Montreal at the holder's option.
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 treasurer thereon may be
written or engraved, lithographed, printed or otherwise
mechanically reproduced.
There shall be levied and raised annually in each of the
years 1964 to 1983 inclusive a sufficient sus to meet the
annual debenture payments as provided in Schedule "A"
hereto upon all the ratsable property in the Mwaicipality
at the same time and in the same manner as all other rates.
The said debentures may contain a clause providing for the
registration thereof pursuant to Section 323 of The
Municipal Act.
(7)
3 _
This By -lair shall come into force and take effect on
the day of the final passing thereof.
Read a First and Second time this /a day of
CO/ 1963 .
Read a Third time and finally passed this /eday
of x.963.
7
�_
Schedule "A" to
By—Law-No. 1$82.
TOWN OF BONMANVILLE
$141,345
5j% Debentures
(non — callable)
Dated
1963
Due
1964 -1983
Year
Principal
Interest
Total
1964
$ 4,345
$8,127.34
$ 12,472.34
1965
4__O _- __._
7t877.50
11, $77.50
1966
4,000 -�
71647.50
110647.50
1967
5,000 --
7,4].7.50
12,417.50
1968
59000
7,130.00
121130.00
1969
5;000 �`
60842-50
11P842,50
1970
5,000 i
6,555.00
11,555.00
1971
6,000
6`267.50
12,267.50
1972
61000
5,922.50
11,422.50
1973
7,000-°
5,577.50
129577.50
1974
7,000 �
5,175.00
12,175.00
1975
7,000
4,772.50
11,772.50
1976
8? 000
4070.00
12070.00
1977
$,000 �
3,910.00
11,910.00
1978
9P000 /
3,450.00
12,450.00
1979
9,000 .
2,932.50
11,932.50
1980
101000
29415-00
l2 , 4l 5: eO
1981
101000 �
1,840.00
11;940.00
19$2
11)000--,
10265.00
12t265.00
1983
11, 000 -
632.50
11P632-50
$ 141,345
$1001127.34
$ 241,472.34
r Form 14
t PLEASE QUOTE FILE WAiBER
Telephone Number
EYVire 3 -3063 P.F. E• 4760 -60
ONTARIO
THE ONTARIO MUNICIPAL BOARD
145 Queen Street West
Toronto 1, Ontario
October 11, 1963
Mr. J. L. Reid,
Clerk - Treasurer,
Box 1570,
BOWMANVILLE, Ontario.
Dear Sir.:.
Construction of sewage treatment
plant
I am enclosing herewith duplicate original of the Board's
validation order pursuant to Section 58 of The Ontario MUnicipal
Board Act.
When debentures issued under authority of the above by -law
are forwarded to this Board for certification, advice will be required
as to their disposition.
In the event that they are to be returned to the municipality,
detailed written instructions will be required as to the method of
shipment, together with a written undertaking that the municipality
assumes all risks involved in such shipment.
Your truly,
B. Vick s.
Secretary
Enclosure 1
RS/bos
h
E. 4760 -6O
9
ONTARIO
THE ONTARIO MUNICIPAL BOARD
IN THE MATTER OF Section 58
of The Ontario uniei al Board
Act, R.S. . 1960s o. 2
40 and -
IN THE MATTER OF an application
by The Corporation of the Town
of Bowmanville for approval of
its By -law 1882 passed on the
10th day of September, 1963,
providing for the issue of
debentures in the amount of
$141,345 for the construction
of a sewage treatment plant
BEFORE:
A. H. ARRELL, Q4C.
Vioe- Chairman }
Friday, the 11th
and
day of October, 1963
F. G. BLAKE, )
Member )
THE BOARD ORDERS, under and in pursuance of the
legislation hersi.nbefore referred to, and of any and all
other powers vested in the Board, that the said By -law
No. 1882, be and the same is hereby approved.
C>6'
SECRETARY
IV' ',
U
ONTARIO
DEPARTMENT OF HIGHWAYS
Mr. D. L. Reid,
Town Clerk, Town Hall,
BOWMANVILLE, Ontario.
C.T.V.
Toronto 5, Ontario.
July 29, 1963.
Dear Sir: Re: Supplementary Road Expenditure
By -law No. 18$1
Amount - 9 273250.00
Please be advised that the above cited by -law has
received consideration as a charge against the allotment for
Special Capital Projects in the Department's estimates for
the current fiscal year.
The Honourable C. S. MacNaughton, Minister of
Highways, has approved of the proposed expenditure for
subsidy purposes, to a 11 t of -0-_
$ 27,250.00 for Constr
SUBJECT TO THE FOLLOWING CONDITIONS:
1. That the expenditure(s) shall be made only for the
purposes set out in the by -law and supporting pro-
gramme and shall not be diverted, either in whole
or in part, to any other purpose, without the prior
consent in writing of the Municipal Engineer.
2. That the individual works of road construction and
bridge construction shall be subject to the approval
of an engineer of the Municipal Roads Division.
3. That tenders for work to be undertaken by contract
shall be publicly advertised and Department subsidy
shall apply on the amount of the lowest tender only
unless the Municipal Engineer approves subsidy on
a higher tender.
N. B. In the event that any portion of the cost of the pro-
posed work or purchase is to be raised in a subsequent
year or financed by the issue of debentures, the
approval of the Ontario Municipal Board must be obtai-
ned before the work or purchase is authorized or any
commitment made with respect thereto.
A copy of the by -law as approved is returned herewith.
rrYours very truly,
J. P. Howard,
Municipal Engineer,
:D Operations Branch.
Encl.