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Home My WebLink AboutKIN 49 1487 Borrowing By-law · , CORPORATION OF THE TP1'!'l. OF KINCARDINE BI'-UW BIt. 1467 .A. By..Law 'to provide tor borrowing 41,.500.00 :pay tor ~he con.~:NoUcm ot (a) A aidewalk on the :Ia.~ side ot Huron ':Cerra S'tree't and Penetangore now. (b) A sidewalk on the We.t side ot Queen atree . (c) A Sidewalk on the West slde ot Prinoeu St (d) a cola. pavement on Victoria Street.. :iIlsse 1 Street and LalDbton Stren. ifHICI{a#S puraue" to Ion8truetion By-Law 1Q'taber t2nd day ot Augu.t. U4,. a concrete sidewalk bas the east aide ot HuroJL Terrace 8treet trom Bu.ssell treet~· Albert , Stre.t and on the eaat lide at penetangore iow t X1noardine Av.nue. .urn ~,." plrauu:k to loAatrucUon By-Law her 14;' paned. on the 6th day ot August.. I'4'. a concrete sid.walk. been conatruotei. .cin the ..at 810.. ot f4U.. .tre.t t;rc¡m )Telaon litreet to K1ng stree". A.ND Wt<EIlIUR pursuu.t to 8on.tructioa By..:r.aw :r 1416 paS88" on the I,5th .da7 ot JulT. 1'4'. a CODcre'te ø1d..alk as been oonstwO'ted on tbe w..t s1d. ot P:riB.... Street t1'OIIl Broadway S - limi t ot the property onel. by 'erey G~J AND _.~.. pu2'8U8J1t to Øonatru.ct1on BT-Law D ber 14'1'1. pasllea. on t;b.. 1,5th da7 ot July'. 1'4'. a colas pavement ;!laø been construct'" on Victoria Stre.t tram Durham Itr.et to the penetango Biver. a concrete curD haa bee OOJUItrv.crn4 on the ...t Lambton street to Bu....ll Stre.t. a cola. pavemen" s beD construoted on Bu..seU stre." f'røa t1l. top o.t 'She hill at at side ot the bri4Se to Prince.. Stre.t, a cola. pavement has been const 01ed on LaB\bton Stre.t from Victoria hr..t to. PriDC8ss 3treet. all in the ~own ot Kin';;' oarUn. a. local improTements unc1..r 1h. provisions 'he Local Improve-' mente A8't~ AJI1) "H~"'.'" t;b.. total cost ot 'khe wo:ric i. '1'. 0.00 of which .6.21.5.8Q i8 the ØClrpora1ioD'a porUcm ot the cost d 47 .Z84.20 18 the onera' portion of the oo8t. tor which a special as esammt roll has be.n prepared and certiti.... Am) WIjRW1U9 the estimated lit.time ot the work is tin.en years: ~ 2-~ .Am) rtHJtHC#S it il nee..1IU'f to borrow the IIUm 0 U,..500.00 on ~e credi t ot the Oorporation and to 18aue· debentures th refor beariDg interest at the rate of three and one halt per cent per anntUD whi eh is the UIOunt ot the debt intended to. be oreated by this By..La_ì ANJ) 1j'R1m'!l!48 1't 18 expe41ent to make th. prino.ip 1 ot said debent.ures repayable in yearly 8'UJU during the period at tiftee years. of such amount. respectively that the aggregate amount payab e for pr1nalpaJ. and intereat in any year øhaJ.l be equal aø nearly as may be to the amount so payable tor prinoipal and intere.t in each ot the ot er yearsJ Am> wmemrA!'t it .111 be neoesaary to raise annuli. the ~ at 11172.14 during the period ot tUteen years to pay the said y arly 8UJII.8 ot princ.1pal and interest u they beeome due. ot which t.53'.10 is required to PU the Corporationt. portion ot the coat and the interest ereon and "'2.4' 1s required 10 PU the owner's portion ot the coat and e interest thereoa. IN]) IIHEw1RAA the whole rateable property ot the icipal1'ty. according to thela.t revi.ed aa.esBment roll thereot is iI.I6 IN]) "Ht;..~A the UlOUD.'t ot the existing debentu deb1i ot the OorporaUOII. exoluaive ot loeaJ. improTement debts secured by spe al rates at ass.sllment 18 483."'.4' and no part ot the priD.oip~ or intere t 1& in ar:rearaJ IN]) IIH",,,d~ by Order dated the 3rt. day at Augus . 1'49. the Ontario Jlun1cipal Board hu approTd the purpole of the aaid orrowing and the paaa1ng at all requisite By-Laws. inclU.ding debentu ~"P'OBK 'mI M.1JNIOEJAL COUNCIL 0"8 '1'B1I OOBl'ORAT ON OF 'fØ TON OF KIN81BDIlO. enacts aa tollowl: (I) ~ tor the ptU'pOS.1 aforesaid the Oorpora ion sba.ll borrow UpOII. the orad! t ot the Corporation a sum not exoeed! 'fHIRrEm fiIOUSAND. FIV'E RtJRDRED DOT,T.A1l8 (11'.;00.00) and .bAn issue de enturea 'the..etor in BUllIS ot not le.. thIm 4;0.00 each. iach debenture 11 bear intere.' at the rate of 'J;b.:ree and one halt per cent (m) per anJJ.tUD payable annually and shall have CØIlpons attacb.e4 thereto tor the paym t ot sueh inte:res'. (2) AU the debentures ahall bear the same date. sba.ll be iSBued at one time and w1 ihin &1\iNti\\V the day on wh eh this By...:r.a. is qD.@ and one...ba.l passed. :may bear aDJ' date 111 thin eueh~1 anG:-1 all be made payable in annual instalment. during the period ot ti:rteen Y' ra next a:rter the date ot 1aeue thereat, ani. the relpecrtin amount. ot rincipal and intere.' payable in each at such ;years shall be the amounts I designated in /Schedule _"'8 hfu...to an.nQ.t4. ~ . (J) the debenturl' Iball bl pa,abll a. to boih 1n01»&1 ami 1A1eHIJ' in lawhl mone;y of aanada. and ma;y be made pa;yable at oh place or place. - 3 ... in ~da ... .1'1.11 be d..igne:telt ~ereon. (4) !he said debentur.. eha1l be sea181t wi~ the 8.al ot the aorp.:.;, oration and aiped b7 the head ot the CoUDOU. or b7 om. other pen= authori.d by bY-law to aip the l)I.e. and bT the 'Ire StU'er. 'lb.e wd inte:res'\ ooupone ahalJ. be .iped by the 'frea8l1rer and his signature thereOD IIa7 be wr1 tte:n. 8Umped 01' B%lC1'4t-vei. (5) :DuriD£ the tift... TUØ. \be m:rreacy ot th debenture..~. IIUIR ot tII1Z.14 shalJ. be ra1.... amwallY' tor '\he P83JI1ent t the debt and in- terest as toU01ra~- 'She IIWIl ot 15".69 Pall be rais d annually tor the payment ot the Corporation'. portion ot the coat and he in teres", thereon and fñA11. be levied and raiaed. annually' by a special ate autficient 1öhere- tor. over and above ùl o~~ rates, on all the ratea le propertY' o:t the Jrunio1pali't7. at ü.e ... tim. and ill. the .-me man:ner as othe;r ratea. I'or ~e paJllLent ot the ownerat portion ot ~. coat and th intereat thereon. ~e apeo1al &8.ea..-nt ae'\ forth in the said apecial aaeasment roU is herebY' imposelt upon the lands 11able theretor as the in set torth. :which said øpecial assesllllent with a IIWIl au1'ticient to cove interest thereon at the rate atoreaaid, shall be payable in tit teen equal annual instalmenta ot 1'32.4.5 each. and tor tba'k purpo.e the øpecial a1II1' al rates per toot trontage ae'\torUl in acheduel (I) hereto attached. hereby imposed UpoD. the lata entered in the said special asaessment 11. according to the assessed trontage the:reot. over and above all oth r rates and taxes. aid and "khe'.peoiù ra'ke. ahall be collecñed annua1ly by e collec'tor Qt taxes tor the OorporaUon at the ame time and in the same man:ner as other rate.. (6) ft.e debenture. IIIQ' contain aD7 clause provi l:Ig tor the regia';; trdion thereot. authoriaed b7 Section ,,6 01' the )(un oipal A.c1ö. (7) Pending the sale ot the .dd debentures the sad ot the Council and the 'rrsaaurer may raise tor the purposes aforesai by way at loan on such debentures U7 su:a or auaa at money no"t excee in al1. the IJI,IDI. hereby authorisea. to be borrowed and 11187 hypothecate Oh debentures tor 811 ch 1.oan. (8) 'the Corporation shall haTe the righ'k. at its opUon. to red._ the said debenture. e1 t1ler in whole or in part. on eJl7 date prior ~ matu:r1 ty at the place. where and in the moneys in whi the said debenture. are expre... 10o be pa;rable. upon payment ot the prin pal amOUD.1o thereot together wi t1l 1nteres1o aoomed to the date ot red.pt on and upon giviDC prnious noUce at said intention to rede. by adver Bing once in the -4- Ø:a'tario Ge.seUe and once in .. daily nnapaper of gene pro'Vinc1al circu.latlœ, ]JUbl1ùed 111 'the CUT or toronto. and on in.. local newspaper, aueh notice 'to b. advertised as aforellaid a least thirly days before the date fixed tor reð.empUolI.. lIotioe. of ntentiOIl.BO to re4e. shall al80 be aent by po.t. a't least thirty daye prior to ~e 4&t.. .et. tor au.. redemp't1oa to each pereon in whose a deben1;ure ao to be re4e.ed ia 1'e£i8tered d the aMre.. aQ.01m the :Ðeben1;ure Resistry Book. Where On1T a portion ot the deben'\ures ot 'Ma lealle 1. 80 10 be rede.ed. auah ponion ahall oomp:r1se onl.y \he 4ebeu'tu:rea 1ha't have the lat..." mat.uritT da'tes od no debenture 0 this i8aue Ilha11 be ~led tor IlUch redeaption in ,:r1or1.ty :;0 any IlUch d.ben~ '\hat has a later maturi"'T da'Ø. DAD .. rirst and second 'time thi. Ifxl- day Qr~, 1'47. RIA.]) a 'thirl\ 'time and '£1:1'1111' IT paned thh 1'4'. da7 of ~ . ,- " . .. g7 SUö.lWULB -.&.- to _...Law 110/"" Ot the OORl'ORA'flm.. - OF mE 1'011{ 011' KDTCARDJ NE. 1'4' 110. PImfCIPAL ll'C'1' Jl:IlIllR'l' 'f0i'AL I I 6".'4 I 4'12.50 · 1172.14 · 2 · '124.12 · 448.02 · 1172.14 " - · . 3 , '14'.47 , 42.2.67 ,. II'12.14 - - ~ 4 :. 775.70 I ~96.44 ,f 1172.14 " ~ 5 , 802.85 , 36'.2' t n72.14 - 6 t 830.'5 t 341.1' t II72.I4 - '1 · 860.04 t 3J2.IG , 1172.14 8 . . 8'0.14 · 282.00 t 1I'12.14 ~ · . , , '21.2' · 2,50.85 · II72.14 - - 10 t 953·.54 f 218.60 · II72.I4 II ,. ,86.91 f 185.23 · 1I72.14 ., · f 150.69 · . ia Ion.45 I II'12.I4 · · . 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