HomeMy WebLinkAbout1989LM
2M
THE CORPORATION OF THE
TOWN OF BOWMANVILLE
BY -LAW NO. 19$9
A By -law to amend By -law No. 1946, being a by-
law to authorize the construction of a Works
Department building and to provide for the bor-
rowing of $53,727.00 upon debentures therefore,
by increasing the amount to be debentured to
$53,800.00 and making certain other changes.
WHEREAS the Council of the Town of Bowmanville has
authorized by By -law No. 1946 the issue of debentures to pay for the
construction of a Works Department Building.
AND WHEREAS The Ontario Municipal Board by its Orders dated
the 22nd day of December, 1965, and the 11th day of August, 1966,
under file number F7185 -65 approved the expenditure of $54,337.31 by
the Corporation in connection with the work described in the said by-
law.
AND WHEREAS Council deems it necessary to amend the said
By -law No. 1946 to provide for an increase in the amount to be deben-
tured, for a higher rate of interest having regard to current economic
conditions, and certain other changes.
NOW THEREFORE the Council of the Corporation of the Town of
Bowmanville HEREBY ENACTS that By -law No. 1946 be amended as follows:
1.
Delete
the whole
of the
third preamble clause.
2.
Amend
Section 1
by the
following:
(a) In the second line, delete the figures "53,727.00" and
substitute therefor "$53,800.00 ".
(b) In the fourth and fifth lines, delete the numerals and
words "5 and 4 (3/4) percentum" and substitute therefor "644".
(c) Delete the last five lines from and after the word
"interest" appearing in the fifth line as follows:
"or in the alternative by the issuance of twenty debentures
of combined principal and interest, one due and payable as
to principal in each of the years during the currency of
the said debentures, and interest payable in each year on
each debenture at the rate of 5 and 3/4 percentum per annum".
3.
Delete the word "Deputy - Treasurer" appearing in the tenth
line of Section 5 and substitute therefor "Treasurer ".
r
W�W
4. Schedule "A" attached to By -law No. 1946 is deleted and
Schedule "A" attached hereto is substituted therefor.
5. The debentures may contain a clause providing for the reg-
istration thereof pursuant to Section 323 of The Municipal Act.
READ a first and second time this 19th day of September, 1966.
�O/"
Jerk
READ a third time and finally passed this ? �ay of L , 1966.
Mayor
Jerk
Debenture
No.
�lj
7
1
2
3
4
5
6
7
9
10
11
12
13
14
15
16
17
18
19
20
Year of
Maturity
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985
1986
THE CORPORATION OF THE
TO'dN OF BOWMANVILLE
BY -LAW NO. 1989
SCHEDULE "A"
Principal Rate Interest
# 1,400.00
1,500.00
1 *,000.00
1, 700,.00
1,$00.00
1,900.00
2,100.00
2,200.00
2,300.00
2,500.00
2,600.00
2,800.00
3,000.00
3,100.00
3,300.00
3,500.00
3,$00.00
4,000.00
4,200.00
4,500.00
# 53,800.00
6k% # 3062.50
"
3,275.00
"
3,181.25
"
3,081.25
"
2,975.00
"
2,$62.50
"
2,743.75
"
2,612.50
"
2,475.00
"
2,331.25
"
2,175.00
"
2,012.50
"
1,$37.50
"
1,650.00
"
1,456.25
1,250.00
"
1,031.25
"
793.75
"
543.75
"
281.25
# 41,931.25
Tot al
# 4,762.50
4,775.00
4,781.25
4,781.25
4,775.00
4,762.50
4,$43.75
4,812.50
4,775.00
4,$31.25
4,775.00
4,$12.50
4,$37.50
4,750.00
4,756.25
4,750.00
4,$31.25
4,793.75
4v743-75
4,7$1.25
# 95,731.25