HomeMy WebLinkAboutKIN 48 1455 Borrowing By-law
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OOBPOlW.'ION OJ' 'mil 'fOWN' OJ' INE
BI'-J¿1' If 0" 141'
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A By-J.aw to provUe to%' the borrowiD8 01' 48000. 0 upon debentures
to pay 1'01' the CIOnat1'lletion 01' a stadium 1n
'fown 01' nncard1ne.
:ugh t Park. 1n "-he
IIH"'..-u~ purllllant to CIonat1'lletion B¡'-Law No. 1449 passed on tbe
'hh day of April. 1948. a ata41um haa been cons c1öed in Oonnawt
kti[ in the 'oB 01' nn~e¡
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AND .H...Rl~ the total CIOat 01' the work is
AND WRRR~8 it is necessary to borrow the id sum 01' tSOOO.OO
On the ered! t o:t the 'CIo:r,poraUon an4 to issue II. entures there1'or bea
iDg interest at the rate 01' ?tS per I1DIlUII. which' s the amount 01' th1I'
debt In'tended to be created by this By-:r.e.wj
AND 1rR'1mJlR 11. 18 upitUent to make the prl cipal 01' the lIaid
a.ebt repayable in Ye&2"ly BUmS 4uriD8 the period l' ten years an4 to
make the reapecñiv. amounts 01' principal and in in each
01' such years aa d.a1.gnated in :achedue aA.- atta.
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»m ~lM1-t the UI.OUIlt. 01' the whole rateabJ. property 01' the
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~icipal1ty. àooerding to the l&8t revised A.ase
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.ÅlID IIH"'~4~ the, uisUD8 debentundeht 01' e Corporation
amount. to 'JO'.J.54- 71 (exCluai n 01' loCal improv
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by ape.ial rate. 01' AlIIsessment) and no part 01' e principal O%'
inte".t 1a Ù. arrears;
AND IIH."qR the Ontario IÐmicipal Board by ts Order dat.ed the
IJ'th day 01' April. A.D. 1'48. haa approved 01' th undertaking and hall
authorized the ra1aing 01' the Baid BUm 01' 18000. 0 by lSBUiD8 debent-
-ueB th8%'81'01'to. be iasued .1 t1ùn one Year 1'ram e date 01' the order
,to be ~ble over a bm not exceeding ten ye
, .......-.OU '!he JII1D101pal Gouncll o~ the Gorp ation 01' the '101m
.t I'.tnoutine anaot. u tollowlu";
I.. ~ fIR ~. purjo.. atoresaidthere "hAll e borrowed on 'Ule '
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O¥'di" 01' 1h. torporaUon a~ luge the sum 01' :II
00..1)0) anI. _benturea .þA]) b. issued the;ret re, mauma 01' not
.-...101.00 ea". bMrtD& interest at the áteo1' 'Ihree ani on...
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~""t ~~..~, aouponB at,t Ql¡.eil. 'Ulue~ ~_"~;
~ou~ DOLLAR$
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~ent, 01' intere.'.
I. '!he debentures ahall all be..r 'the same date d shall be iBSUM.
Within one ;rear a1'ter the 'Oth ky 01' A.pri~ A..J). 948 and m.ay bear
any date, within such __,yearit. and shall be pay ~e in ten annual
instalment. duriIlgthe ten ;years nut a:tter the
are issued and the reape.o\1ve amOunts or princi
e when the IUlIII.G
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able in each 01' auch ;years shall be the amounis designated 111
Schedule -A.- attached to and 1'ozming par\ or thi
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,. !he debentu%'8B as to both Pr1ncipal..and inte sha1~ be expX'8BB."
þJ. Canadian Cnrrency and shall be payable at the 01' Jlontreal at
its branch in the 'fown or nnoardine.
4. ~e Kayor and the 'freaøurer at the Corporati sha1l Bign and
iasue the debentures and interest OOUPOXUI shall e Bignell by the,
:fX'8asure;r and '\he deben'\urea aha'] be sealed wi
, !;orporation.
,. :During'ten years. the eunency or the debent a. there shall be
'raised in eaoh year ~ ~unt 01' the instalment 01' principal and
'.interest payable in thåt year u Bet 1'orth in a edule -AI¡ attacb,ed
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llerettl. by a w,peeial rate lIQ.1'fie1ent theretor ov r and above all otheJt
;"rates on all <1ã. rat...ble. properly in the JlUn1,oi alit¡.
.
':he debentUres may contain any Clause provi ng for the regis1iraU
e:i.pal debentures in
'thereo1'. authori.ed by any atatute¡.;elating to
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1'o;rce at theUmê of the iBlJUe thèreo1'.
7. 'fhedeben1;u%'8B i'aue" und~r author1 ty 01' thi bY-l~w 8/"oJ i be
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.~1I"O't to red~pt.1on in whole orin part at the option 01' the Corp-
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".òn,Uon'd theprlneip&¡ ~- thereo1' together wi acc:ru.ed inbren
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non. on any date whan'in.tereat ia due on giv ng 60 dEQ'a notice in
'wrs. Ungthereo1' to )he ngiaterellholdft.
ca. 'the 'amount of the loan authorized by this b;y law may be oon-.olidat
i th the amount of any loans authorized by any 0 er by-law or'lty-lawfJ
h incJ.udiq the om. with IÍUGIb. other ioans in a consolidatiñ¡ by-lø
r1l1:o.c the bOl'row1J18 or 'the ag¡regate' there r aa ~e loan. end
111111., ot ð.eben'tlU!tla tor au'* loan in one con eeu.tive issue pur..
:t. ",0 'thep:r:ov1a1¡;ma o.t 1b.. a.tute 'in that b '
"q.1, BY..l.. .:11.1\ ~e - ett.~ on the day 01" t e
":'¡'_.eno. ~~H»: ~'ed thia I~
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ICHB:UO~ -A- attached to ana.
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/ '155 .
part 01' Debenture B¡'-:r.aw No.
'fawn 01' K1noardine.
Year 'fa
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I t800.00 1260.00 $l060.00 1 .26..00
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2 t .800.00 t 2'4.00 t 1034.00 t 2.6.00
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. . . . . . . t ' , , ïáóó~óo ' t ' 't ' , , , . , , . , .,., , , . . ' ., . . .
3 2.08.00 I008.0Q ,.. 2.6.00
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t ISoo.oo t 182.00 .' 982..00 . 26.00
4
t 1800.00 , 156.00 t 9,56.00 , 2.6.00
5
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6 ISoo.oO . 130.00 930.00 ,.. 2.6.00 '
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'1 t 1800.00 . 10..00 t 904.00 t 2.6.00
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8 1800.00 '18.00 878.00 ,'" 26.00
t t . t
t 1800.00 t { 8,52..00 i 2.6.60
9 ;2.00
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10 t800.00 2.6.00 826.00 ' 26.00
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