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HomeMy WebLinkAbout71-26THE CORPORATION OF THE TOT,-:1T OF BOT,.I&TVILLE BY -LAW NO. 71 -26 To authorize the issue of a Debenture in the principal amount of $100,000.00 for the purposes referred to in Schedule "A°l attached hereto. HHEREiS the Council of The Corporation Of The T&m of Bowma ville now deems it exDedient nor the purposes set out in Schedule "All attached hereto to borrow money by the issue and sale to The Ontario Municipal ' Lmprovemeit Corporation of a Debenture of this Municipality in the principal amount of $100,000.00 bearing interest at the rate of 8.90% per annum payable semi - annually, which is the amount of debt intended to be created by this by-law. NOW THEREFORE the Council Of The Corporation Of The Town. of Bowmanville enacts a: foilOWS: 1, THAT for the purposes aro-resaia money shall be borrowed on the credit of The Corporation Of The Torn of Bc,mianville by the issue of a Debenture of the Corporation in the principal amount of $100,000.00 bearing interest at the rate of 5,90% per annum payable semi - annually on the 15th day of March and the 15th day of September in each year of the currer_cy of the Debenture, upon the principal amount from time to time remaining unpaid, 2, THA7. the sai c: Debenture shah 'DC daL`GO tI ?e l5th day Of September, 1971, and s�_all be payable in 20 annual instalments of principal on the 15th day of Scpte-:ber in the years 1972 to 1991, inclusive, and the respective amounts of principal and interest payable in respect of such Debenture in the years 1972 to 1991, inclusive, shall be as set forth in Schedule "B" attached hereto. 3. THAT the said payirents of principal and interest shall be payable in lawful money of Canada by cheques sent through the post to the registered address of the registered o�ner of the Debenture and such cheques shall be payable at par in the City of Toronto. :. THAT the said Debenture shall be sealed with the Seal of the Corporation and shall be signed by the Head of the Council or by some other person authorized by by -law to sign the _same, and by the Treasurer. 5. THAT all sums required to pay off the instalments of principal of the Debenture and to pal interest thereon as set out in Schedule "B" attached "hereto shall be levied and raised in the years 1972 to 1991, inclusive by a special rate sufficient therefore, over and above all other rates, upon all the rateable property in the Elunicipality at the same time and in the sane manner as other rates, but it shall not be necessary to levy in any year a greater mount than is required to pay the said instalment of principal and interest after talking into account -receipts from any other source in respect of said works. 6. THAT the said Debenture be sold to The Ontario Municipal Improvement Corporation. - 2 - 7, THAT the said Debenture shall contain a clause providing for the registratio?? -.hereof pursuant to Section 326 of The Municipal Act. 8, THAT application shall be made to the Ontario Municipal Board for approval of this by -law and for the certification of the Debenture to be issued hereunder pursuant to Sections 58 to 60 of The Ontario Municipal Board Act, 9, THAT Schedules "All and "B" attached hereto, are hereby declared to be and to form part of this by -lava. E RNACTED this 7th day of September, 19710 Signed IVAN M. HOBBS, MAYOR Signed Jo Mo McILROY, CLERK W Form 69—A Telephone Number 395-1912 ONTARIO THE ONTARIO MUNICIPAL BC 123 Edward Street Toronto 101, Ontario Mr. J.F. Descent, Treasurer, 40 Temperance St., Bowmanville, Ontario. Dear Sir: PLEASE QUOTE FILE NUMBER H 771-70 ,ARD October 15, 1971 Re: Validation of By—law 71-26 I am enclosing herewith duplicate original order E pursuant to Section 58 of The Ontario Municipal Board Act, together with an invoice covering the Board's fee. is Encls.-2 Yours truly K.C. ANDREWS SECRETARY 1"I't �f,�A- 0 - and - I ff� u 11011111lM m kr legislation hereinbefore referred to, and of any and all other powers vested in the Boardo that the saiM By-law 71-26 be and the same is hereby approvell, ENTERED 0. B, No FoVio No ...... 6:11 1 ti SECRETARY, ONTAP,10 MUMCAPKIL BOARD Septemb Enc'l 1. DebE 2. Decl 3. Inst Form ONI j u 1ii Yours very truly Treasurer . Date (tame of borrower) Encl.- 1. Debenture 2. Declaration. Form OM1C 20 THE CORPORATION OF THE SCHEDULE "B" TO BY -LAW NO. 71-26 1 2 3 4 5 6 PAYMENT DATE PAYMENTS TOTAL ANNUAL NUMBER DUE PRINCIPAL INTEREST TOTAL ANOUNT.PAYABLE 1 March 15 1972 44,450.00 X4,450.00 2 September 15, 1972 2,000.00 4,450.00 6,450.00 10,900.00 3 March 15, 1973 4,361.00 4,361.00 4 September 15, 1973 2,000.00 4,361.00 6,361.00 � 10,722.00 5 March 15, 1974 4,272.00 4,272.00 � September 15, 1974 2,000.00 4,272.00 6,272.00 10,544.00 7 March 15, 1975 4,183.00 4,183.00 S September 15, 1975 3,000.00 4,183.00 7,183.00 11,366.00 March 15, 1976 4,049.50 4,049.50 10 September 15, 1976 3,000.00 4,049.50 7,049.50 11,099.00 11 March 15, 1977 3,916.00 3,916.00 12 September 15, 1977 3,000.00 3,916.00 6,916.00 10,832.00 13 March 15 1978 3,732.50 3,782.577 14 September 15, 1978 3,000.00 3,782.50 6,782.50 10,565.00 15 March 15, 1979 3,649.00 3,649.00 6 September 15, 1979 4,000.00 3,649.00 7,649.00 11,298.00 17 March 15, 1980 3,471.00 3,471.00 18 September 15, 1950 4,000.00 3,471.00 7,471.00 10,942.00 19 March 15, 1981 3,293.00 3,293.00 20 September 15, 1951 4,000.00 3,293.00 7,293.00 10,556.00 21 March 15, 1982 3,115.00 3,115.00 22 September 15, 1982 5,000.00 3,115.00 8,115.00 11,230.00 23 March 15, 1953 2$92.577 2,532.50 24 September 15, 1953 5,000.00 2,592.50 7,592.50 10,755.00 25 March 15, 1954 2,670.00 2,670.00 26 September 15, 1984 5,000.00 2,670.00 7,670.00 10,340.00 27 March 15, 1985 2,447.50 2,447.50 28 September-15, 1985 6,000.00 2,447.50 8,447.50 10,895.00 29 March 1, 1986 2,180.50 2,180.50 30 September 15, 1986 7,000.00 2,180.50 9,180.50 11,361.00 31 March 15, 1987 1,569.00 1,869.00 32 September 15, 1987 7,000.00 1,869,00 8,869.00 10,738.00 33 March 15, 1988 1,557.50 1,557.50 34 September 15, 1988 8,000.00 1,557.50 9,557.50 11,115.00 35 March 15, 1989 1,201.50 1,201.50 36 September 15, 1989 8,000.00 1,201.50 9,201.50 10,403.00 37 March 15, 1990 845.50 845.50 38 September 15, 1990 9,000.00 845,50 9,845.50 10,691.00 39 March 15, 1991 445.00 445.00 40 September 15, 1991 10,0077.00 445.00 10,445.00 10,890.00 4100,000.00 X117,302.00 $217,302.00 - 4217,302.00 OMIC -4 WAMP Making a grant to the Northumberland & Durham County Board of Education for the erection of an auditorium in a net•7 - condary 1001. SCBEDULE "A" TO By -LAW NO. 71 -26 ONTARIO CONSTRUCTION !.UMTICIPAL BY -LAW BOARD NUMBER PILE NO. N/A Ii771 -70 TOTAL APPROVED NUMBER BY OF ONTARIO TO BE O.W.R,C, MUNICIPAL PREVIOUSAI ISSUED CERTIFICATE BOARD ISSUED JHEREUNDER H/A $100,000 Nil $100,000 SCHEDULE 'B" TO BY -LAS'! .1I0. 71 -26 6 1 PAYMENT 2 3 PA` I Et fTS 5 TOTAL ANNUAL llrl -IDER DATE DUE PRINCIPAL IN-IEREST TOTAL AMOUNT PAYABLE 1 March 15, 1972 $ $ 1:.0450.00 $ 4,450.00 $ 2 September 15, 1972 2,000.00 4PI.,50.00 67450.00 101900.00 3 March 15, 1973 I:•, 361.00 41 361.00 4 September 15, 1973 21000.00 41361.00 61361.00 103722.00 5 March 15, 1974 4,272.00 41272.00 6 September 15,1974 22000.00 1-111272.00 6,272.00 101544.00 7 march 15, 1975 1:,183.00 4,183.00 8 September 15, 1975 3,000.00 1:,183.00 7,133.00 211,366.00 9 March 15, 1976 41049.50 4,049.50 10 September 15,1976 3,000.00 4,049.50 7,049.50 11,099.00 11 March 15, 1977 3,916.Od 32916.00 12 September 15,1977 3,000.00 31916.00 6,916.00 10,332.00 13 March 15, 1973 31782.50 3,782.50 14 September 15, 1973 3,000.00 31782.50 6,782.50 10,.565.00 15 March 15, 1979 32649.00 3,649.00 16 September 15, 1979 49000.00 32649.00 71649.00 11,298.00 17 March 15, 1980 3,471.00 3,471.00 18 September 15, 1980 4,000.00 3,1.71.00 72471.00 10,942000 19 March 15, 1981 3,293.00 31293.00 ?0 September 15,1981 4,000.00 31293.00 7,293.00' 10,586.00 I March 15, 1982 31115.00 3,115.00 22 September 15, 1932 51000.00 31,115.00 31115.00 11,230.00 23 March 15, 1983 2,392.50 2,892.50 24 September 15, 1983 5,000400 2,392.50 7,892.50 10,785.00 25 March 15, 1984 2,670.00 21670.00 26 September 15, 1984 51000.00 2,670.00 71670.00 101340.00 27 March 15, 1985 21447.50 2,447.50 20 September 15, 1985 62000.00 2,4.47.50 82447.50 10,895.00 29 March 15, 1986 2,180.50 23,180.50 30 September 15, 1986 7,000.00 2,180.50 9,180.50 11,361.00 31 March 15, 1987 I, 369.00 1,869.00 32 September 15, 1987 7,000.00 1,369.00 3,869.00 10,738.00 33 March 15, 1988 1,557.50 1,557.50 34 September 15, 1988 x,000.00 1,557.50 91557.50 11,115.00 35 March 15, 1989 1,201.50 1,201.50 36 September 15, 1989 8,000.00 10201.50 91201.50 10,403.00 37 Nueb 2s, I'm 845.50 $45.54 38 September 15, 1990 91000.00 845.50 9,845.50 10,691.00 39 March 15, 1991 455.00 445.00 1r0 September 15, 1991 10,000.00 445.00 10,445.00 10,890.00 $ 1003000.00 $117,302.00 $217,302.00 $217,302.00 T1L CORPOF.ATION OF THE TOT -YT OF BOTEAIITVILLE BY -LAW NO. 71 -26 To authorize the issue of a Debenture it the principal amount of $100,000.00 for the purposes referred to in Schedule "A" attached hereto. WHERELS the Council of The Corporation Of The Tw.m_ of Bowman�ville now deems it expedient or the purposes set out in Schedule "All attached hereto to borroe: money by the issue and sale to The Ontario Municipal Improvement Corporation of a Debenture of this Municipality in the principal amount of $100,000.00 bearing interest at the rate of £3.90% per annum payable semi - annually, which is the amount of debt intended to be created by this by -I ax-7. NOW THEREFORE the Council Of The Corporation Of The Town of Botan_anville enacts as follows: 1. THAT for the purpose:. foresail money shall be borrowed on the credit of The Corporation Of The Toz-m of Bc mianville by the issue of a Debenture of the Corporation in the principal amount of $100,000.00 bearing interest at the rate of 3.90% nor annum payable semi - annually on the 15th day of P 'larch and the 15th day of September in each year of the currency of the Debenture, upon the principal amount from time to time remaining unpaid. THF_� the talc Debenture shall. be dated the 15th day of September, O 1 1971, and shall be payable ir_ 20 annual instalments of principal on the 15th day of September in the years 1972 to 1991, inclusive, and the respective amounts of principal and interest payable in respect of such Debenture in the years 1972 to 1991, inclusive, shall be as set forth in Schedule "B" attached hereto. THAT the said payr: of principal and interest shall be payable in lawful money of Canada by cheques sent through the post to the registered address of the registered owner of the Debenture and such cheques shall be payable at par in the City of Toronto. 4. THAT the said Debenture shall be sealed with the Seal of the Corporation and shall be signed by the Head of the Council or by some other person authorized by by -law to sign the same, and by the Treasurer. 5. THLT all sums required to pay off the instalments of principal of the Debenture and to pay interest thereon as set out in Schedule "B" attached hereto shall be levied and raised in the years 1972 to 1991, inclusive b77 a special rate sufficient therefore, over and above all other rates, upon all the rateable property in the Municipality at the cane time and in the same manner as other rates, but it shall not be necessary to levy in any year a greater &.mount than is required to pay the said instalment of principal and interest Ater taking into account -receipts from any other source in respect of said works. 6. THAT the said Debenture be sold to The Ontario Municipal Lnprovement Corporation. - 2 - 7. THAT the said Debenture shall contain 'a clause providing for the registration thereof pursuant to Section 326 of The Municipal Act. £o THAT application shall be made to the Ontario Municipal Board for approval of this by -lazy and for the certification of the Debenture to be issued hereunder pursuant to Sections 58 to 60 of The Ontario Municipal Board Act, 9, THAT Schedules "A" and "B" attached hereto, are hereby declared to be and to form part of this by -la.J, E RPIACTED this 7th day of Septern-ber, 19710 Signed IVAN M. HOBBS, MAYOR Signed Jo Mo Mc LR ©y CLERK 0 SCHEDULE "A" TO BY -LAW HO. 71 -26 �zti TOTAL APPROVED OIJITARIC MY- CONSTRUCTION HUTICIPAL OF ONTARIO TO BE BY -LAW BOARD 0.W.R.C. MUNIICIPAL PREVIOUSLY] ISSUED PURPOSE NUMBER FILE NO, CERTIFICATE BOARD ISSUED HEREUNDER Making a grant N/A H771 -70 N/A $100,000 Nil $100,000 to the Northumberland & Durham County Eoard of Education for the erection of an auditorium in a new - p—condary oolo �zti 6 TOTAL ANNUAL AMOUNT PAYABLE 10,900.00 10,722.00 101544. 00 11,366.00 11,099.00 10,332.00 10,565.00 11,298.00 10,942.00 10,586.00 11,230.00 10,785.00 10, 3110.00 10,095.00 11,361.00 10,738.00 11,115.00 10,403.00 10,691.00 10,890.00 $ 100,000.00 $117,302.00 $217,3` 02.00 $217,302.00 SCHEDULE "B" TO BY -LAW Idfl. 71 -26 1 PAY12ENT 2 3 PAYT iM-TTS 5 iUIIr%P. DATE DUE PRINCIPAL rlkTTEREST TOTAL March 15, 1972 $ $ 4,1:50.00 $ 4,450.00 2 September 15, 1972 2,000.00 4,4.50.00 6,450.00 3 March 15, 1973 4,361.00 41 361.00 4 September 15, 1973 21000.00 113361.00 6,361.00 5 March 15, 1974. 42272.00 4,272.00 6 September 15,19711 2,000.00 11-,272.00 61272.00 7 march 15, 1975 11 1103.00 111,183.00 8 September 15, 1975 3,000.00 6,183.00 7,183.00 9 March 15, 1976 4,049.50 4101:9.50 10 September 15,1976 31000.00 67049.50 7,049.50 11 March 15, 1977 3,916.00 3,916.00 12 September 15,1977 31000.00 31916.00 65916.00 13 March 15, 1978 31732.50 3,782.50 111 September 15, 1978 32000.00 32782.50 6,782.50 15 March 15, 1979 3, 61:9.00 3, 649.00 16 September 15, 1979 41000.00 3261.9.00 7,649.00 17 March 15, 1980 311;.71,00 3,471.00 18 September 15, 1980 42000.00 3,1:-71.00 7,471.00 19 March 15, 1981 31293.00 37293.00 20 September 15,1981 43000.00 31293.00 71293.00" 1 March 15, 1982 3,115.00 3,115.00 12 September 15, 1932 51000.00 31115.00 8,115.00 23 March 15, 1983 2,392.50 2,892.50 24 September 15, 1983 57000.00 2,892.50 7,892.50 25 March 15, 1984 2,670.00 2,670.00 26 September 15, 1931:• 5,000.00 2,670.00 7,670.00 27 parch 15, 1985 2,447.50 2,447.50 2nu September 15, 1985 61000.00 21447.50 8,1:•47.50 29 March 15, 1986 2,180.50 2,180.50 30 September 15, 1986 7,000.00 2,180.50 931!80.50 31 March 15, 1987 1,069.00 1,869.00 32 September 15, 1987 7,000.00 11869.00 81869.00 33 March 15, 1988 11557.50 1,557.50 34 September 15, 1983 x,000.00 1,557.50 91 557.50 35 March 15, 1989 11201.50 1,201.50 36 September 15, 1989 81000.00 1,201.50 9,201.50 37 March 15, 1990 845.50 845.50 38 September 15,'1990 91000.00 845.50 9,845.50 39 March 15, 1991 445.00 445.00 110 September 15, 1991 10,000.00 1:1:5.00 10,445.00 6 TOTAL ANNUAL AMOUNT PAYABLE 10,900.00 10,722.00 101544. 00 11,366.00 11,099.00 10,332.00 10,565.00 11,298.00 10,942.00 10,586.00 11,230.00 10,785.00 10, 3110.00 10,095.00 11,361.00 10,738.00 11,115.00 10,403.00 10,691.00 10,890.00 $ 100,000.00 $117,302.00 $217,3` 02.00 $217,302.00