HomeMy WebLinkAbout71-14THE CORPORATION OF THE VILUAGRE OF t� , XASTUZ
BY -LAW NO. 71 -14
A By -law to authorize the issue of a
Debenture in the principal amount of
$ .0,0 000. no for the
purposes referred to in Schedule "A"
attached hereto.
WHER:FAS the Council of The Corporation of the Villag
of Newcastle now deems
it expedient for the purposes set out in Schedule "A" attached hereto to borrow money
by the issue and sale to The Ontario Municipal Improvement Corporation of a Debenture
of this Municipality in the principal amount of $ 00000' bearing
interest at the rate of 8.50 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 Village
of Newcastle
enacts as
follows:
I. THAT for the purposes aforesaid money shall be borrowed on the credit of
The Corporation of the Village of Newcastle
by the issue of a Debenture of the Corporation in the principal amount of $ 500000.00
bearing interest at the rate of % per annum payable semi - annually on the 15th
day of January and the 15th day of July in each
year of the currency of the Debenture, upon the principal amount from time to time
remaining unpaid.
2. THAT the said Debenture shall be dated the 15th day of July
19 71 , and shall be payable in 10 annual instalments of principal on the 15th day
of July in the years 19 72 to 19 lol , inclusive, and the respective
amounts of principal and interest payable in respect of such Debenture in the years
19 72 to 19 81 , inclusive, shall be as set forth in Schedule "B" attached hereto.
3. THAT the said payments 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.
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5. THAT all sums required to pay off the instalments of principal of the
Debenture and to pay interest thereon as set out in Schedule f "Bt" attached hereto
shall be levied and raised in the years 19 74' to 19 31 , inclusive, by a special
rate sufficient therefor, over and above all other rates, upon all the rateable
property in the Municipality at the same time and in the same manner as other rates,
but it shall, not be necessary to levy in any year a greater amount than is required
to pay the said instalment of principal and interest after taking into account
receipts by the Treasurer in respect of such utility under Section 36 of The Public
Utilities Act or from any other source in respect of the said work.
6. THAT the said Debenture be sold to The Ontario Municipal Improvement
Corporation.
7. THAT the said Debenture shall contain a clause providing for the regis-
tration thereof pursuant to Section 323 of The Municipal Act.
B. 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 pur-
suant to Sections SS 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 -law.
ENACTED this �` day of 197/ , by a vote
of three - fourths of all the members of the Council.
...; . R.
(Seal)
Clerk ... ...
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THE CORPORATION OF THE VILLAGE OF NEW CAS TVE
SCHEDULE "B" TO BY-LAW NO. 71-14
1
2
3
4
5
6
PAYMENT
DATE
PAYMENTS
TOTAL ANNUAL
NUMBER
DUE
PRINCIPAL
INTEREST
TOTAL
AMOUNT PAYABLE
I
January
15, 1972
s
2,125.01
2"125.00
2
July 15,
1972
3vorio.00
20125.00
50125.00
7,250.0 0
3
January
15, 1.973
to 7.50
It,997.50
4
July 15,,
1973
4,000.00
10997.50
59997.50
7,995.00
5
January
15,, 1974
10827.30
1,827.50
6
July 15,
1.974
400000.00
11327.50
5,527.50
7,655.00
7
January
15,, 1975
10657.50
lt657.50
8
July 1%
1975
4,010.00
10657.50
5,657.50
7,315.00
9
January
15, 1.976
1,487.50
1,487.50
10
July 150
1976
50,000.06
10487.50
69487.50
70975.00
11
January
3.5. 1977
10273.00
1, 275.00
32
July 15,
1977
5,0,000.00
1.t275.00
60275.00
7,550.00
13
January
is, 1978
1006:2.30
Is062.50
14
July 15,
1978
6,000.00
1,m2,50
70062.50
5v1.25.00
15
January
15,, 1979
807.50
807.50
16
July 150
1979
807.50
60807.50
7, 61.5..00
17
January
15, 1980
552.50
552*50
18
-Tuly 15j,
1980
6,000,00
552,50
6,552.50
7,105.00
19
January
15, 1981
297,50
297.50
20
July 150
1981
71,00,0.00
297050
70297.50
7,595.00
s 50 1, 0,30. 00 $ 260180.00 S 76,180,00 $ 7 6 0 180. Of)
'71- /-�/-
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THE CORPORATION OF THE VILLAGE OF M M-ICASTLE
SCHEDULE "B" TO
BY-LAW NO. 71-14
2
3
4
5
6
PAYMENT
DATE
PAYMENTS
TOTAL ANNUAL
NUMBER
DUE
PRINCIPAL
INTEREST
TOTAL
AMOUNT PAYABLE
I
January 15, 1972
$
$ 20125.0p,
29125.00
2
July 159 1972
30noo.00
20125.00
50125.00
70250.00
3
January 15, 1973
1,997.50
lv997.50
4
July 159 1973
4,000.00
10997.50
50997.50
70995.00
3
January 159 1974
1*827.50
10827.50
6
July 1559 1.974
4$00n.00
It 27..5
59827.50
79655.0-10
7
January 159 1975
1.9657.50
1*657.50
6
July 159 1975
49 X3.00
1*657.50
59657.50
79315.00
9
January 15, 1.976
1,487.50
1,487.50
10
July 159 1976
59 fjoo.00
lt487.50
6v487.50
70975,00
11
Jwxuary 15,, 1977
11275.00
1*275.00
1-2
July 159 1977
5900'o.oa
11275.00
60275,00
79550.00
13
January is, 1978
1*06 . 2.50
1062.50
14
July 13" 1 978
60000.00
1.' m2 150
70062.50
8.125.1,11D
15
January 3-51. 1979
807,50
807.50
16
July 159 1979
807.50
60807.50
70615.00
17
January 159 1930
552.5113
552.50
18
july 159 1980
6v552.50
79105.00
19
January 159 1981
297,50
297.50
20
July 159 1,981
7000 .0
297953
70297.50
79595.00
500000.00
$ 26,,180.010 S
769180.00
$ 769180.00
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