HomeMy WebLinkAboutKIN 71 2181 Borrowing By-law
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THE CORPORATION OF THE TOWN OF KINCARDI E
BY..LAW NO. 2181
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BEING A BY-LAW to authorize the bon- r; of
$251,000.00 upon deþentures for the pur se
of constructing a Water Treatment Plant and
the installation of new trunk lines.
WHEREAS the Council of the Corporation of the To
has by By-law Nò.2l82 authorized the construction
Treatment Plant;
AND WHEREAS it is deemed eXJltldient to borrow for
purpose a aum not exoeedinr; ~25l.000.oo upon the
Corporation and to issue debenture. therefore bea
payable ·annually, at the rate perannUIII shown in
attaohed to th~s by.law and to provide for any 4i
e~n.e. insidentalto tije negotiation and sale 0
of Kincardine
of a Water
he said
edit of the
ing interest,
tñedule "A"
sount ariel
such debentures;
AND WHEREAS it is expedient to uke the prinicpal of the edd
deDt repayable in annual instalments during the riod of issue
of such debentures;
NOW THEREFORE the Council of The Corporation of t
Kineardine ENACTS AS FOLIDWS:
1. For the purpose aforesaidtàe Council of the Corporation of
the Town of Kincardine shall borrow upon the credit of the
o Corporation a SUIII not exceed1nr; $251,000.00 nd shall issue
debentttree therefore.
2. Each debenture .hall bear interest at the ra e of per eent
per annum .et out for the respective year. i .Schedule "A"
àttached to the by-law and shall have coupon attached thereto
for· the payment of the .aid interest.
3.
The debentures shall be dated the day of
and sha1l1be made payable in ~_ C2Q)- ann
the day of in ea.h of the years to
both inclusive and the re.rctive amounta of
interest payable in each 0 the said years s
so de'1r;nated in Schedul' "A" attached to an
of this by-law.
The debentures shall be payable as to both p
interest in lawful IIIOney of Canada and may b
at the Bank of Montreal in the Town of Kinca
principal office of the said Bank in the eit
It.
19 ,
al instalments on
,
principal and
11 be the amount
forming part
incipal and
made payable
ine or at the
of Toronto.
5. The debentures .hall be sealed with the seal of the Corporation
and signed by the head of the Councilor by ome other person
authorized by by-law to sign the same and by the treasurer.
The said interellt coupons shall be signed by the treasurer and
his signature to them may be written or engr ved, lithographed,
prin~.d or otherwise mechanically reproduced The signature of
the head of Counoil may be written or engrav d, lithographed,
printed or otherwi.e mechanically reproduced and, 1£ such .
debentures are countersigned in writing by t e deputy trea.urer
the signature of the treasurer thereon may b written or
engraved, lithographed, printed or otherwise ~..haJÌÌl.eaa.ly
reproduced.
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The Public Utilities Commission of the Town of Kincardine
shall pay to the Town of Kincardine each yea. the amount
of principal and interest required in each y ar for payment
of said debentures.
8. The said debentures may contain a clause pro iding for the
registration thereof pursuant to Section 323 of the Munieipal
Act.
9. Pending the sale of the said .ebentures, the HEAD OF THE
COUNCIL and the Treasurer may raise for the pose aforesaid
by way of loan on such debentures any amount of money not
exceeding in all the sum hereby a~horize to be borrowed and
may hypothecate such debentures for such loa .
Read a First and Second time on this 4th day of March »97~o¿;:;~.
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DqMf-'s L. Younf
yor
aead a third tiae and finally passed this 3rd
1971.
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The Corporatien of the Town or Kincax dine
SCBBDVLB "A"
~o Bv- w 10. 2181
. Prill.eipal Interes\ Principal
Retired tor year and Interes\
1. 4.t!tlO.OO 22,590.00 27,000.00
2. 5,806.90 22,193.10 28,000.00
3. 5,329.52 21,670~ð8 27,000.00
4.. 6,809.18 21,190. 2 28,000.00
5. 6.,422.08 20,578.00 27,000.00
6. 7.999.98 20,000.02 28,000.00
7. 7.719.98 19,280.02 27,.000.00
å. 9 ,ltl"'. 78 18,.585.22 28,000.08
9. 9.262.11 17.737.89 27.,000.00
10. 11...095.70 16,90lt.30 28,000.00
11. ll,09/t.31 15,905.69 27..0,00.00
12. 13 ,092.80 4,907.20 28,000.00
13. 13,.271.16 13,728.84 27.000.00
14. l5,rt5.56 12,534." 28,.000.00
15... 15" 57.~ 11,.42.54- 27,000.00
16. 18,284. :3 9,715.37 28,000.00
17. 18,930.25 8,069.75 27,000.00
. 1$. 21,633.97 6..366.03 28,000.00
19. 22,581.03 /t,1t-18.97 27,000.00
20. 26,518.68 1,481.32 28,000.00
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251,000.00 299,000.00 550.000.00
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