HomeMy WebLinkAbout1977THE CORPORATION OF THE
TOWN OF HOWMARVILLE
BY -LAW WO. 1977
A By -law to authorize the issue of
Debentures in the amount of $209,870 «54
for the construction of a sewage treat-
ment 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 WHEREAS this work is now complete, the total cost
of which is $4199892.04;
AND WHEREAS an amount of $68,676.50 of the total cost
has been forl►en under the provisions of an agreement between
Central Mortgage and Housing Corporation and the Town of Bowmanville;
AND WHEREAS a part of the amount to be borrowed to pay
for the work, the sum of One Hundred and forty -one thousand, three
hundred and forty -five dollars 3141045,00) has been raised under
the provisions of Town of Bowmanville By -law No. 1882, which By-
law was approved by Order of the Ontario Municipal Board under
File Number E4 760 -60;
AND WHEREAS by Agreement dated July 17th, 1961 between
Central Mortgage and Housing Corporation and the Town of Bowmanville,
ko 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 and nine thousand,
eight hundred and seventy dollars and fifty -four cents ($209,870.54),
and it is desirable to borrow such sum by the issue of a debenture
therefore which is the amount of the debt to be created by this
by -law.
NOW THEREFORE the Council
of Bowmanville ENACTS AS FOLLOWS;
1. For the purpose aforesaid
credit of the Corporation at large
thousand, eight hundred and seventy
($209,870-54) and a debenture shall
of the Corporation of the Town
there shall be borrowed on the
the sum of Two hundred and nine
dollars and fifty -four cents
be issued therefore, bearing
interest at the rate of 5 3/8 per centum per annum, calculated half-
yearly.
2. The debenture may bear any date within the year 1963,
and the principal shall be payable in annual installments 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 ataoxed, provided that the Corp-
oration shall have the right at its option, of redeeming the de-
benture in favour of Central Mortgage and Housing Corporation upon
payment of the principal amount owing hereunder together with in-
terest accrued to the date of redemption and upon giving previous
notice of the intention of the Corporation to redeem by advertising
once in the Ontario Gazette and once in a daily newspaper of genera,
provincial circulation, published in the City of Toronto, and once
in a local newspaper, such notice to be advertised as aforesaid at
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 the date set for such redemption to the person in
whose name the debenture so to be redeemed is registered at the
address shown in the Debenture Registry Book.
3. The debenture 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 the City of Ottawa or the City of Toronto.
44, The debenture shall be sealed with the seal of the Corp-
oration and signed by the head of the Council or by some other person
authorised by by -law to sign them and by the Treasurer.
5. There shall be levied and raised annually in each of the
years 1964 to 1983 inclusive, a suffieient sum to meet the annual
debenture payments as provided in Schedule "A" hereto annexed, upon
all the rateable property in the municipality at the same time and
in the same manner as all other rates.
6. The said debenture may contain a clause providing for the
registration thereof pursuant to Section 323 of the Municipal Act.
1
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2 -
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2. The debenture may bear any date within the year 1963,
and the principal shall be payable in annual installments 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 ataoxed, provided that the Corp-
oration shall have the right at its option, of redeeming the de-
benture in favour of Central Mortgage and Housing Corporation upon
payment of the principal amount owing hereunder together with in-
terest accrued to the date of redemption and upon giving previous
notice of the intention of the Corporation to redeem by advertising
once in the Ontario Gazette and once in a daily newspaper of genera,
provincial circulation, published in the City of Toronto, and once
in a local newspaper, such notice to be advertised as aforesaid at
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 the date set for such redemption to the person in
whose name the debenture so to be redeemed is registered at the
address shown in the Debenture Registry Book.
3. The debenture 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 the City of Ottawa or the City of Toronto.
44, The debenture shall be sealed with the seal of the Corp-
oration and signed by the head of the Council or by some other person
authorised by by -law to sign them and by the Treasurer.
5. There shall be levied and raised annually in each of the
years 1964 to 1983 inclusive, a suffieient sum to meet the annual
debenture payments as provided in Schedule "A" hereto annexed, upon
all the rateable property in the municipality at the same time and
in the same manner as all other rates.
6. The said debenture may contain a clause providing for the
registration thereof pursuant to Section 323 of the Municipal Act.
Aw
OF
�
4
-
3 -
READ a first and second time this
6 day of u , 1966.
yor
Avg, E-1#01-04 -
READ a third time and finally passed this
v
040
e day of , 1966.
1,01.114 �ii
F1w �r I X COMI
w�
t
•
s
THE CORPORATION OF THS
TOVIN OF BOWMA1fTILIi
SCNNZDtILB *A* TO BY -LAW NO. IM �.
40hedule of Annual. Paywmts required from
tine Corporation of the Town, of Dowmanville
to repay loan of, #209,870.54 in r"" at of
3swage Treatment Project fib. 51&3?P -29
0*1MEA MNort a Mw i7baing Co rati
;Jett „COn &g&edt 'March 1, 1963 Loan ABU”:
Utl: 5 3/6% Less 12raireneas on Printout&:
ftMt 20 years Balance to be Awrtiiedt
Payment
1
2
3•
4
5
6
7
8
9
10
11
12
13
14
15
16
17
is
19
20
Res
March
RU
1964
1,
March
10
1965
March
1,
1966
March
19
1967
March
i,
1968
March
19
1969
Larch
1,
1970
March
it
1971
March
1,
1973
March
1,
1973
March
1,
1974
Larch
19
1975
March
it
1976
March
1,
1977
March
10
1978
March
10
1979
March
1,
1980
March
1,
1981
March
1,
1962
March
10
1963
Priligiga
6,052.69
6,382.60
6,730.28
7,096.89
7,463.47
7,891.11
8 :.320.96
8,774.22
9,252.17
9,756.16
10,2#7.60
10,847.99
11,458.90
12,062.01
12,719.05
13,411- #9
14,142.46
14,912.84
15,725.17
16.5 #1r#8
rr�.r�urrrr��
$2099870.54
mom
#278047.04
$2099670.54
. luena
l
119282.63
17035.52
il,lO2.41
17,485.01
10,754.73
170485.01
10088.12
179485.01
109001.54
179465.01
99593.90
17,465.01
90164.05
17,485.01
8,710.79
17,465.01
89232.84
17,465.01
7,728.85
179485.01
79197.41
179485.01
69637.02
179485.01
6,046.1i
&5 =,x.00
�� X�17,465.01
/�!' 17,17, 465.01
4,765.96
17,485.01
4,073.12
179485.01
3,342.55
179485,01
2,572.17
17,485.01
19759.64
179485.01
903.13
17.485.01
$1391,660.17
4349,550.71
N.D.: The First interest payment has been calculated as follows:
r6l:020.30 x The compound interest factor for 1 year $6771.14
48 850.24 x The compound interest factor for 345 days ` ., 242 ,1. =16-49
$11,282.63
7
Form 14
Telephone Number
365 -1912
PLEASE QUOTE FILE NUMBER
AN B. 4760 -60
ONTARIO
THE ONTARIO MUNICIPAL BOARD
145 Queen Street West
Toronto 1, Ontario
July 18, 1966
Rec... '
Mr. R. L. Byron, [his. ...
Clerk - Controller,
Bowmanville, Ontario. R "p•
Dear Sir:
Fife
Re: Validation of By -law 1977 \
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.
Yours truly,
JY
R . SCOTT
Encls. 1 ACTIPD SECRETARY
r
64�
1. 4760.60
IN THE YAT'TER OF Section 58 of
The OntjC&q Xun&gLgAj Agagi Ac.
. . . 1VWw Q* 2741#
- and rr
IN T°H4 MATTER OF an application
by The Corporation of the Town
of Bowmanville for approval of
its Bye -law 1977 passed on the
6th day of dune# 1966, providing
for the issue of debentures in
the amount of $209 870.54 for
the purpose desarited therein
B E F 0 R E o.
A. He ARRELL, Q.C.,
Vice - Chairman
Monday, the l8th
- and - day day of July, 1966
F. C. BLAKE,
Member }
THE BOARD ORDERS, under and in pursuance of the legin-
lation hereinbefore referred to, and of any and all other
powers vested in the Board, that the said By -law 1977 be and
the same is hereby approved.
ACCG SECRETARY
ENTERED
0. B. Na...._._.......
Folio No. ..........
JUL 181966
Acting $etre *arY, Ontario Munic'rp,