HomeMy WebLinkAbout67-23THE COROPORATION OF THE VILLAGE OF NEWCASTLE
BY -LAW No. 67-Z3
A By -law to authorize the issue of a
Debenture in the principal amount of
$169,000.00 for public school purposes
WHEREAS the school board named in Schedule "A" attached
hereto has applied to the Council of The Corporation of the Village of Newcastle
to provide the sum of $169,000.00 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;
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 Aid Corporation of a Debenture of this Municipality in the principal
amount of $169,000.00 bearing interest at the rate of 52I 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
Debenture of the Corporation in the principal amount of $169,000.00
bearing interest at the rate of 51% per annum payable semi - annually on the
lst 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.
2. THAT the said Debenture shall be dated the lst day of November, 1967
and shall be payable in 20 annual instalments of principal on the lst day of
November in the years 1968 to 1987, inclusive, and the respective amounts of
principal and interest payable in respect of such Debenture in the years ,
as
1968 to 1987, inclusive, shall be /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.
A -1
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. THAT all sums required to--pay off the instalments 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 raised in the years 1968
to 1987, inclusive, by a special rate sufficient therefor, over and above
all other rates, upon all the rateable property assessed to 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 Corporation.
7. THAT the said Debenture shall contain a clause providing for the
registration thereof pursuant to section 323 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 "A" and "B" attached hereto, are hereby declared
to be and to form
part
of
this By —law.
ENACTED
this
' day of 6, i; F ^4 .£��,�
, 19
2,
...... .................
Clerk
(Seal)
A -2
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1
THE CORPORATION OF THE VILLAGE OF NEWCASTLE
BY-LAW NO . 67-
SCHEDULE "A"
Name of school board
Amount of Debentures
The Newcastle Public School Total approved by To be
Board Ontario Municipal Issued
Ontario Municipal Board Board Previously Issued Hereunder
Purpose File No.
The construction of school
accomodation and the supply
of equipment. F 8848-66 $1689905.00 NIL 3169, 000.0®
t.
THE CORPORATION OF THE
1 2
PA.",IfENT DATE
laJMBER, DUE
� ABCC*DEF-4
BY-LAW NO.
SCHEDULE "B"
Yc, 6-1-2-3
3 4 i 5
PAYMENTS
PRINCIPAL INTEREST TOTAL
6
ANNUAL AMOUNT
LEVIED HEREUNDER
m
1412"6 00
14 s, M. 00
13,745ioG
144470.00
141,140.00
139,810-00
l4t480.00
14*095.00
14..710.00
14*270. 00
13*8%. 00
143,390-00
13.-895-00
l4s400*oo
13A500 00
14000-00
13 t 695. 00
14,vM.00
14^* 00
91-Z Z
6
ANNUAL AMOUNT
LEVIED HEREUNDER
m
1412"6 00
14 s, M. 00
13,745ioG
144470.00
141,140.00
139,810-00
l4t480.00
14*095.00
14..710.00
14*270. 00
13*8%. 00
143,390-00
13.-895-00
l4s400*oo
13A500 00
14000-00
13 t 695. 00
14,vM.00
14^* 00