HomeMy WebLinkAboutKIN 76 4012 Construct gallon
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THE CORPORATION OF THE TOWN OF KINCAR NE
BY-LAW NO. 4012
A by-law to authorize the issue of a
Debenture in the principal amount of
$ 75,000.00 for the
purposes referred to in Schedule "A"
attached hereto.
WHEREAS the Council of The Corporatio~ of the Town
ðf Kincardine now deems it expedient for the purposes set
out in Schedule "A" attached hereto to borr money by the
issue and sale to The Treasurer of Ontario 0 a Debenture
of this Municipality in the principal amount of $ 75,000.00
bearing interest at the rate of 8.92~ per a um payable
semi-annually, which is the amount of debt i tended to be
created by this By-law.
NOW THEREFORE the Council of The Corpa ation of the
Town of Kincardine enacts as follows:
1. THAT for the purposes aforesaid money 1 be
borrowed on the credit of The Corporation ot' the Town of
Kincardine by the issue of a Debenture of th Corporation
in the principal amount of $ 75,000.00 bear~ interest
at the rate of 8.92 ~ per annum payable sem~ annually on the
1st day of April and the 1st day of October n each year of
the currency of the Debenture, upon the pri~ ipal amount from
time to time remaining unpaid.
2. THAT the said Debenture shall be date4 the 1st day of
October, 1976, and shall be payable in 20 a ual instalments
of principal on the 1st day of October in t years 1977 to
1996, inclusive, and the respective amounts f principal
and interest payable in respect of such Deb ture in the
years 1977 to 1996, inclusive, shall be as t forth in Schedule
"B" attached hereto.
.
3. THAT the said payments of principal
be payable in lawful money of Canada by che
the post to the registered address of the r
of the Debenture and such cheques shall be
in the City of Toronto.
4. THAT the said Debenture shall be seal
of the Corporation and shall be signed by t
Councilor by some other person authorized
the same, and by the Treasurer.
5. THAT all sums required to payoff the instalments of
principal of the Debenture and to pay inter st thereon as set
out in Schedule "B" attached hereto shall b levied and
raised in the years 1977 to 1996, inclusive by a special
rate sufficient therefor, over and above al' other rates,
~nterest shall
es sent through
istered owner
at par
with the Seal
e Head of the
By-law to sign
... 2
~
- 2 -
.
upon all the rateable property in the Munici
same time and in the same manner as other ra
shall not be necessary to levy in any year a
than is required to pay the said instalment
and interest after taking into account recel
Treasurer under Section 35 of Public Utilitl
any other source in respect of said works.
6. THAT the said Debenture be sold to The Treasurer
of Ontario.
aUty at the
es, but it
greater amount
f principal
ts by the
s Act, or from
7. THAT the said Debenture shall contain
providing for the registration thereof purs
of The Municipal Act.
8. (a) The Corporation shall have the r ht, as its option,
to redeem the said debenture on any interes payment date
prior to maturity by payment of the unmatur d principal
amount thereof together with interest accru d to the date
set for redemption.
clause
t to Section 326
(b) The unmatured principal of the d benture shall
become due and payable on the date set for edemption thereof,
and from and after such date interest cease to accrue thereon
where provision is duly made for the paymen, of the amount
thereof.
(c) Notice of intention so to redeem shall be sent
by post at least thirty days prior to the te set for such
redemption to the person in whose name the ebenture is
registered at the address shown in the Deb ture Registry Book.
(d) At least thirty days prior to th
redemption, notice of intention so to rede
in The Ontario Gazette and in a newspaper 0
circulation, if any, in the municipality.
9. THAT Schedules "A" and "B" attached h reto, are hereby
declared to be and to form part of this By... aWe
date set for such
shall be published
general
READ a first and second time this
7th
day of
October
, 1976.
.
READ a third time and finally passed this
October 1976
, .
7th day of
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THE CORPORATION OF THE TOWN OF KINCAR
SCHEDULE "B" TO BY-LAW NO. 4012
PAIMENT DATE - PAIMENTS - OUTSTANDING
NUMBER DUE PRINCIPAL INTEREST TOT PRINCIPAL
1 01/04/1977 3,345.00 3,3 5.00
2 0i/10/1977 1,479.20 3,345.00 4,8 .20 73,520.80
3 01/04/1978 3,279.03 3,2 .03
4 01/10/1978 1,611.14 3,279.03 4, 0.17 71,909.66
. 5 Oi/04/l979 3,207.17 3,2 7.17
6 0i/10/1979 1,754.86 3,207.17 4,92.03 70,154.80
7 0i/04/1980 3,128.91 3,1 8.91
8 01/10/1980 l,9ll.39 3,128.90 5,00.29 68,243.41
9 01/04/1981 3,043.66 3,0 3.66
10 01/10/1981 2,081.89 3,043.65 5,1 5.54 66,161.52
11 01/04/1982 2,950.81 2,9 0.81
12 0i/10/.1982 2,267.59 2,950.80 5,2 8.39 63,893.93
13 01/04/1983 2,849.67 2,8 9.67
14 01/.10/1983 2,469.86 2,849.67 5,3 9.53 61,424.07
15 01/04/1984 2,739.52 2,7 9.52
16 01/10/1984 2,690.17 2,739.51 5'i 9.68 58,733.90
17 01/04/1985 2,619.53 2, 9.53
18 01/10/1985 2,930.14 2,619.53 5,59.67 55,803.76
19 01/04/1986 2,488.85 2'i 8.85
20 01/10/1986 3,191.50 2,488.85 5, 0.35 52,612.26
21 01/04/1987 2,346.51 2,3 6.51
22 01/10/1987 3,476.19 2,346.50 5,8 2.69 49,136.07
23 01/04/1988 2,191.47 2,1 1.47
24 0~0~988 3,786.26 2,191·f 5,9 7.Z3 45,349.81
~;;5 o 04 1989 2,022. 0 2,0 2. 0
26 01/10/1989 4,124.00 2,022.60 6,1 6.60 41,225.81
27 0i/04/1990 1,838.67 1, I 8.67
28 01/10/1990 4,491.86 1,838.67 6,3 0.53 36,733.95
29 01/04/1991 1,638.34 1, , 8.3i
30 0i/10/1991 4,892.53 1,638.33 6,5 0.8 31,841.42
31 01/04/1992 1,420.13 1, 0.13
32 01/10/1992 5,328.95 1,420.12 6, . 9.07 26,512.47
33 01/04/1993 1,182.46 1,1; 2.46
34 01/10/1993 5,804.29 1,182.45 6,9 6.74 20,708.18
35 01/04/1994 923.59 9 3.59
36 01/10/1994 6,322.03 _,923;5,'8 7,2 5.61 14,386.15
37 01/04/1995 641.62 1.62
38 01/10/1995 6,885.96 641.62 7,5 7.58 7,500.19
39 Oi/04/l996 334.51 3 4.51
40 01/10/1996 7,500.19 334.51 7,a 4.70
'"'. 75,000.00 88,384.01 163,3 4.01
01101976 - DEBENTURE DATE 75,000.00 - PRINCIPAL
8.920 - INTEREST RATE 0.0197226 5 - FIRST PAYMENT FACTO
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