Loading...
HomeMy WebLinkAboutKIN 76 4003 Borrowing By-law ~ - ~ ., . . ..-.-..-. . THE CORPORATION OF THE TOWN OF KINCA DINE BY-LAW NO. 4003 being a by-law to consolidate certai ~y-l.w. and to provide for the L..ue of one series of debentures in the amou t of $260,000 in Canadian funds. WHEREAS By-laws Numbers 4000, 400' said By-laws") of the Corporation provide for debentures of the Corporation in the respectiv $100,000, $75,000 and $85,000 in lawful money dated the 31st day of August, 1976; and 4002 (lithe he issue of amounts of f Canada NOW THEREFORE THE COUNCIL OF THE THE TOWN OF KINCARDINE ENACTS AS FOLLOWS : AND WHEREAS none of the debenture authorized by the said By-laws have been sold or disposed of; AND WHEREAS the Council of the Co section 290 of The Municipal Act, R.S.O. 1970, authorized to enact as hereinafter set forth; ration is by . 284, 1. The amounts authorized to be borr money of Canada by the said By-laws are hereby into one sum of $260,000 in lawful money of Can shall be issued one' series of debenture.s theref principal amount of $260,000 in denominations 0 than $50 each, payable as to both principal and lawful money of Canada. ed in lawful onsolidated da and there r in the not less interest in 2. The debentures shall be dated the 1st day of August, 1976, shall be issued at one time and s all be payable in twenty annual instalments of principal on th 31st day of August in each of the years 1977 to 1996, both· nclusive, and shall bear interest payable semi-annually. The, debentures maturing in the years 1977 to 1981, both inclus ve, shall bear interest at the rate of 10% per annum, and the ebentures maturing in the years 1982 to 1996, both inclus' ve, shall bear interest at the rate of 10-1/2% per annum. The: debentures shall have coupons attached for the payment of such i terest on February 28 and August 31 in each year. The re pective amounts of principal and interest ~yable in each of su h years shall be as set forth in Schedule "A" hereto annexed d forming part Qf this by-law. 3. The debentures shall be payable as, to both principal and interest in lawful money of Can ad at the Bank of Montreal in the Town of Kincardine or at the principal office of the said Bank in either of the cities¡of Toronto or Montreal, at the holder's option. ' 4. The debentures shall be sealed wit the Corporation and signed by the head of the C other person a~thorized by by-law to sign them Treasurer. The interest coupons shall be signe the seal of uncil or by some d by the by the Treasurer ._""--- --...~ '. ~ " . . -~---" . - 2 - and his signature to them may be written or en ~~t~Oi~.~.he4. printed or otherwise mechanicall, ., ~~\\R. of the head of the Counci 1 MY Þ .ngr~~. li\hographed, printed or otherwL.. reproduced on such debentures. 5. The .rates imposed by the said By- be levied, collected and applied for the purpo fQr the payment of the debentures issued under and the interest thereon. 6. Pending the sale of the said debe lieu of selling them, the Council may by resol the head of the Council and the Treasurer. to r way of loan on the security of the said debent ' the security of some part of them, and to hypo all of the said debentures as security for the the said loan. READ A FIRST, SECOND AND THIRD TI PASSED this 5th day of August, 1976. tL~~ ~ t' yor Clerk ,......~~ ~ _..:......~~--- " . :;.":;"--~~~;\ ........ - ':::: : -.:....::." ~ . --= . ~, ......; ,_.' aved, reproduced. written or U.1J.f ws shall of providing his by-law ures,or.in ion authorize se money by es or upon ecate any or epayment of and finally :--- ., . ~'4.~~ .. , # SCHEDULE "An TO BY-LAW NO. 4003 . TOWN OF KINCARDINE $260,000.00 1~ 10-1/2'%. to mature 1977 - 1981 to mature 1982 - 1996 116& RATE PRINCIPAL INTEREST TOTAL 1977 1~ $ 13,500. 0./ $ 13,500.00 1977 10% $ 9,000.00. 13,500. 0"" 22,500.00 1978 1~ 13,050. 0:; 13,050.00 1978 10% .11,0.00,00 13,050. 0 24,050.00 1979 10% 12,500. OV 12,500.00 1979 10% 13,000.00 12,500. 0: 25,500.00 1980 1~ . 11,850. 0 11,850.00 1980 10% . 13,000.00 11,850. 0:/ 24,850.00 1981 1~ 11,200. 0/ 11,200.00 1981 1~ 14,000.00 11,200.0./ 25,200.00 ,1982 10-1/2'%. 10,500. 0./ 10,500.00 1982 10-1/2% 16,000.00 10,500.0 J 26,500.00 1983 10-1/2% 9~660. 0/ 9,660.00 1983 10-1/2'; ,18,000.00 9,660. 0 27,660.00 1984 '-~10-1/2% 8,715. 0-:/ 8,715.00 1984 lO-l/2'%. 20,Oqp.OO 8,715. 0/ 28,715.00 1985 10-1/2% 7,665. 0/ ' 7,665.00 1985 10-1/2% 22,000.00 7,665. 0/ 29,665.00 1986 10-1/2% 6,510. O:/:. 6,510.00 1986 10-1/2'; 24,000.00 6,510. 0/ 30,510.00 1987 10-1/2'; 5,250. 0./ 5,250.00 1987 10-1/2% . 10,000.00 5,250. 0 15,250.00 1988 . 10-1/2'; , ./ 4,725.00 4,725. 0../ 1988 10-1/2% 11,000.00 4,725. 0:/ ,15,725 ;00 1989 10-1/2% 4,147. 0:/ 4,147.50 1989 10-1/2% 13,000.00 4,147. 0../ 17,147.50 1990 10-1/2% 3,465. OJ 3,465.00 1990 10-1/2'%. 13,000.~0 3,465. 0 J . 16,465.00 1991 10-1/2% 2,782. 0,;./' 2,782.50 1991 10-1/2'%. 15;000.00 2,782. 0/ 17,782.50 1992 10-1/2'; 1,995. 0 CI 1,995.00 1992 10-1/2% '6,000.00 1,995. 0 V 7,995.00 1993 10-1/2% 1,680. 0 1,680.00. 1993 10-1/2'; 7,000.00 1,680. 0 J 8,680.00 1994 10-1/2% 1,312. 0 J 1,312.50 1994 10-1/2% 8,000.00. 1,312. 0..J 9,312.50 1995 10-1/2'; 892. 0 ~ , 892.50 1995 10-1/2% 8,000.00 892. 0 ~ 8,892.50 1996 10-1/2?; 472. 0 472.50 1996 10-1/2'%. 9,000.00 412. . 9,472.50 . $260,000.00 $263,745. $523,745.00 ~_.- 4___. __ __._._ .n. ____... __ _ ----"...., .---- ----.----------.- -.'-