HomeMy WebLinkAbout67-27/-'ORPOR-AT1a! OF THE V=iAG:E OF ITUMMAL-AE
BY-LA14 K 0 /7
A By-law to authorize the '?,su6 of a Debenture
in the principal amvntn,"" --,f
for plybli7, Purposea
6 7
WHEPEkS the school board named in Schedut-7e attac?'et 'her etc has
applied to the Council of The Corporation of the Villagge of 1�ewcastle,
to provide the sum of $ 169,000® by the issue of Debentures of the Corporation for
the public school purposes set out in Schedule ".A." attached hereto and the Corporation
has approved of said application;
AND WHEREAS for the purposes aforesaid the Council now deems it
expedient to borrow money by the issue and sale to The Ontario Education Capital Aild
Corporation of a Debenture of this Municipality in the principal amount of
$169,000.00
bearing interest at the rate of ksL % per annum. payable semi-annually, which is the
amount of the debt intended to be created by this By-law.
NOW THEREFORE the Council of The Corporation of the Village
of Newcastle
enacts as follows.�
1. 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
flebenture of the Corporation in the principal amount of $, 169,000.00 bearing interest
at the rate
of
6i % per
annum payable sami-annually on the 15t
day of Nay
and lst day
of
November
in each year of the currency of the
Debenture, upon the
principal amount from time to time remaining unpaid.
2. TRkT the said Debenture shn1l be dated the lst day of November , 1967
and shall be payable in 20 annual instalments of principal on the 1st day of 11cvember
in the years 1968 to 1987 , inclusive, and the respective amounts of principal and
interest payable in respect of such Debenture in the years 1968 to 1987 , inclusive.,
shall be as set forth in Schedule I'D" attached hereto.
3. THA.T the said payments of principal and interest shall be payable in lawful
'OR
PCR_kT±Ut OF ThE V OF NEWC.�" z
BY-IAW N 0.
A 1 4.
Sue 01 a
,Y— air o authorize L-h
a e :,, ., " Denture
in the principal amounn- _f $ 169 000.&0
for purposes
67-,:2r
WHEREAS the school board named in Schedule attac!7et !�,eretc has
applied to the Council- of The Corporation of the VilLage of IJewcastlp.
to provide the sun of $ 169vO00.00 by the issue of Debentures of the Corporation for
the public school purposes set out in Schedule "A" attached hereto and the Corporation
has approved of said application;
UJD W11-Th-REAS for the purpose-- aforesaid the Council n deems it
expedient to borrow money by the issue and sale to The Ontario Education Capital Ai'd
Corporation of a Debenture of this Municipality in the principal amount Of $169,000.00
bearing interest at the rate of &_,' % per annum. payable semi-annually,, which is the
amount of the debt intended to be created by this By= -lava®
NOW THEREFORE the Council of The Corporation of the V
of Neucastle
enacts as follows,.
1. THAT for the purposes aforesaid money shall be born on the credit of The
Corporation of the Village of Nevrcastle by the issue of a
Jebenture of the Corporation in the principal.amount of $, 169,000.00 bearing interest
at the
rate
of
6AI % per
annum payable sami-annually on the Ist
day of May
and lst
day
of
November
in each year of the currency of the
Debenture, upon the
principal amount from time to time remaining unpaid.
20 THkT the said Debenture shall be dated the lst day of November , 1967
4. THAT Debenture shall be sealed with the Seal of )--,Corporation and
shall be signed by the Head of the Council or by scme other person authorized by By-law
to sign the same, and by the Treasurer.
5. THAT all sums required to pay off the insta3ments of principal of the Debenture
and to pay interest thereon as set out in the sixth column of Schedule "B" attached
hereto shall be levied and rai sed in the years 19 68 to 19 87 , inclu5ive, by a speci4l_
rate sufficient therefor, over and above all other rates, upon all the rateable property-
assessed • public school supporters in the municipality at the same time and in the same
manner as other rates.
6. THAT the said Debenture be sold to The Ontario Education Capital Aid Corporatiolm
1! pi�111�11111�
mjlllii II! -a in I i i 111,10111 TIMRI�M
thereof pursuant to section 323 of The Municipal Acto
'77mr I
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. THPiT Schedules "A" and "B"' attached hereto, are hereby declared to be and t-,f
form Part of this By-law,
d
ENACTED this -7 _/ dad of ,
. 0 0 0 0 O� ®TO /�� Clerk (Seal)
M
1 19
/ ee ����
I certify that this is a true copy of By-Law 67-27.
CXerk
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I
PAYMENT
NUMBER
1
2
3
4
5
6
7
8
9
12
13
14
15
16
17
18
19
2-O
21
22
23
24
25
26
Z7
28
29
30
31
32
33
3.
35
36
37
38
39
0
2
DATE
D UC
_j. CORPORATION OF THE OF I, C -
BY -LAW NO. G�
SCHEDULE "B"_
3
PRINCIPAL
4 5
PAYMENTS
INTEREST
TOTAL
R
6
ANNUAL AMOUNT
LEVIED HEREUNDi