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Home My WebLink AboutKIN 60 1760 Borrowing By-law , .~~ CORPORATION or TffiI '!'OWN OF KINCARDTh"E. BY...LAW NO. 1760 A BY-LAW 'fO J:'B.OVIDJE FOB. BORROWING I &947.95 for the ~tension ot a Watermain on Huron Terra ad King Street West in the Town rL Kincardine. WHEREAS. pursuant to Construction By-Law n passed on the 7th day of October. A.D. 1960. an watermain has been constructed on Huron Terrace to pay Street 1749 ight inch treet and a Six inch watermain on King Street West as thereO AND WH1C:¡?~:Aß the total cos t of t he work is of which . 032.64.58 is the Town's par Cost and $ 3683.37 is the owner's portion at he cost. tor which 8. special assessment has been prepared and duly made and certified; AND WHRmè!l.R it is necessary to borrow the aid sum ot $ 6.947.95 pr~vided. on the oredit of the Corporation at Six per cen interest per annum - . w~ch is the amount ot the debt intended to be reated by this by-law; AND WH~!l.R it is expedient to make the pI.' ncipal ot the said - a.ebt repayable in yearly sums during the period 01' two yea:l:'s. of suoh amounts respectively that the aggregate amount ayable for principal and interest in anY' one year shall be equal as early as may be to the amount so payable for principal and interest in each of the other years; . "'~ AND wmrnRM'I. it will be necessary to raise nUally the sum of . , . 3'lB,~,2. d\U'ing the period of two years to pay the said yearly sums 01' principal and interest as they become d e. of which i 1771.90 is required to pay the Corporation's portion of the cost and the interest ~ereon and . 2.018.02 is required 0 pay the owners' pôrt:hœo.f the cost and the interest there.on; ."'. AND WHEREAS··t~ØIIIQµJlt ot the whole rateab e property at the .\1!licipality. according to the last revised ass sament. roll is 12.6'2.9'2.5.00. ,,",. AND ~~~A~ the amount. ot the existing de nture debt ot the said Corporation. exolusive of local improveme t debts. seoured by special ratea of assessment ia 1470.480.86 0 part of t.Ìle prin- ~ipal or interest of said debentures is in arr 'fHERí¡j]!'OBE the Counoil ot the Corporation t the ~own øt Kin- cardine. enacts as followa; 1. For the purposes mentioned in the preambl the Corporation shall ~' ~'r',~' .. . ... 2; - borrow upon the credI' of the Corporation a nl)\,e:¡¡.oeed111ß . . .... ........_T~I'947.25) sIx THOUSAND,NINE HtJN.DRED and FORTi" -SEVEN ~3.00¡be r ng . ;¡tereat Tit Six per cent per annum. 2.2.'he prinoipal of the said deb~; shall be l' þayable in ¡early ~ums during the period of two years of such am unts respeotively that the aggregate amount payable for principa and interest in any one ;¡rear shall be equal as nearly as may be to he amount so payable fQ;t pr,incipal and 1"erea' in each ot the oth yeara. and the re- speotive amounts of' prinoipal and interest pay ble in eaoh of such years shall be the amounts so designated in Sc edule "An hereto attaohed. ,. During the two years. the term ot the said debt, the sum of' . 3789.92 shall be raised annually for the payment 01' the debt and interest as tollowa;- The sum of. 17~1.90 shall be raised ually for the ana. interest thereon, . payment mf the Corporation's portion of . and shall be levied and raised annually by a s oial rate suftioient therefor over and above all other rates on all the rateable property of' the Municipality at the same time and in th same manner as other rates. For the payment Qt the owners.' portion of' the oost and in- terest thereon. the special assessment set for h in the said special assessment roll is hereby imposed upon the lan s liable therefor as therein set forth, which said speoial assessme t with a sum suffioient to cover interest thereon at the rate aforesai . shall be payable in two equal annual lnstalments of'. 2018.02. each. and for that )-i purpose the annual rates per toot frontage set forth in Sohedule n~ hereto attached. are hereby imposed upon t e lots entered in the , ~ said special assessment roll. aooording to the assessed frontage thereat. OTe.r and above all other rates and t in 1; special rates shall be colleoted annually 'W11;À like reucii.. as wa1;er rate.. aa, and the aaid e 8... "Daer ..,..-~~-~- SIGNED. $F.À.T.1i!1} and J'INALLY PASSED this 21 t day of December, . ¡ , 1 c.1 \ .LD. 1,60. ./ ~ - '. ~ , '- ~. I ,#I . ~~ -"'"'" . . 1~61 No. ...." . ~:<H"'U!JI.E "A" '1'0 BY-LA.W NO. 1760 CORPORATION OF ~ 'fOWN OF :KIN'CARDINE. Principal Interest ·'F CF THE Total 1. l. 13373.04 416.88 3574.91 21.5.00 3789.9l 3789.92 ~. - :;'",07 I.., !I; I~ !I,. j' ¡ . I ¡~ it! b ~:..~ i'! ..-1'.. OOIll~"o i'!.p..... p G19~1> ;,..~ \-< k ,I. ::1e1 ~~.. cø ,k ¡.:t ,III .. . <k ,.<11 'r;: :'¡;:: 10 '" ,ø :tä '~ II o Ii'! ø ,0) :0 ,0 ... .l . '" 01 '.. I2íI ¡ tf: ~m IQ!B CI ~¡~ .~ #\~ ,g 1II¡1d ,'" . . t: i~ ,,.. r!;O !~ ¡S I§ '12í 't{ ¡ :'" ;0 \oj :0 '¡: o ',,-1 +" k o i·· ,11) I=t ;~ :0 '£0< +" III <D a: 8 E , g ¡ "" "... "" "I'" C- i.:. M ~.,¡'ø.... ¡: ........ r:- oj ........II:r.-l.-l , p.,.-I 9";.Iä·,. ~........ 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