HomeMy WebLinkAboutKIN 76 4012 Construct gallon . 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 ~ --- µ/~ _~h_,_:_~:/~~~ " ::.--:: --.... - -., ~ .--- -:::..: :..::...;.: :::: ,:~-,:: " " ......l11lI 01 0'1 0 >-ii ct ~ .... ::r 0 CD ot I-' II' II' 0 0 0'1 1:1 .(:- 0 CD V1 1:1 0 0 01 ot 0 .. ct CD 1:1 8 a III 0 CD ot 0 0 ot CD ct ~ ct .... CD 0 .... 1:1 ot ~ . . ct CD ot t:J (') "" ,<0 0 I 1:1 V1 1-'01 "" ~~ 0 ct .... 0 1:1 r I~ ~ t-3 oot ::>:: I-' ........ 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CD 1:1 0 ~ 0 .... 0 III . ~ CD 0 0 CD ~ ~ 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 .- .....