HomeMy WebLinkAbout1973A By -law to amend By -law No. 1957, being a
by -law to authorize the purchase of land re-
quired for the establishment of industry in
the Town of Bowmanville and to provide for
the borrowing of $30,000.00 upon debentures
therefor by reducing the amount to be bor-
rowed to $24,000.00 and making certain other
changes.
WHEREAS the Council of the Town of Bowmanville has auth-
orized by By -law No. 1957 the purchase of land suitable for
establishing industry thereon and the issue of debentures therefor.
AND WHEREAS the Ontario Municipal Board by its Order dated
the 4th day of February, 1966, under file number F8579 -66 approved
the expenditure of $30,000.00 by the Corporation in connection with
the purchase described in the said by -law.
AND WHEREAS the Council deems it expedient to borrow for
the above purpose, a sum not exceeding $24,000.00 upon the credit
of the Corporation.
NOW THEREFORE the Council of the Corporation of the Town
of Bowmanville HEREBY ENACTS that By -law No. 1957 be amended as
follows:
1. In Section 2 -
(a) In the second line delete the figures " #30,000.00' and
substitute therefor "$24,000.00 ".
(b) In the fourth line delete the numeral and word "6 per-
centum" and substitute therefor "6 ".
(c) Delete the last five lines as follows:
"or in the alternative by the issuance of ten debentures
of combined principal and interest, one due and payable
as to principal in each of the years during the currency
of said debentures, and interest payable in each year
on each debenture at the rate of 6 percentum per annum ".
2. In Section 6 -
At the end of the ninth line, delete the word "deputy - ".
- 2 -
4. The said debentures may contain a clause providing for the
registration thereof pursuant to Section 323 of The Municipal Act.
READ a first and second time this 31st day of May , 1966.
I
Clerk
READ a third time and finally passed this 1.7 day of , 1966.
Clerk
3.
Schedule "A"
attached to
By -law No.
1957 is deleted and
Schedule
"A" attached
hereto is
substituted
{therefor.
4. The said debentures may contain a clause providing for the
registration thereof pursuant to Section 323 of The Municipal Act.
READ a first and second time this 31st day of May , 1966.
I
Clerk
READ a third time and finally passed this 1.7 day of , 1966.
Clerk
r
Debenture
No.
1
2
3
4
5
6
7
8
9
10
M,
THE CORPORATION OF THE
TOWN OF BOWMANVILLE
BY -LAW NO. 1973
SCHEDULE »A»
Year of
Maturity Principal
1967
1,800.00
1968 ` > 3 4
11900.00
1969 : ;,,
21000.00
1970
21200.00
1971
21300-00
19 72 ` `
22400.00
1973`
21400.00
1974
29$00.00
1975
2 , 900.00
1976 ' , ' `'
3 ,100.00
24,000.00
Rate
6
»
»
»
Interest
19500.00
1,387.50
11268.75
1,143.75
1,006.25
862.50
712.50
550.00
375.00
193.75
9,000.00
Tot al
$ 3000.00
3,287.50
39268.75
3,343.75
3,306.25
3,262.50
39312.50
3,350.00
3,275.00
3,293.75
* 33,000.00