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Home My WebLink AboutBRU 64 885 Borrowing By-law :f -.- "J! .....- . . ,. -",,,.,, .. c'.... THE CORPORATION OF THE TOWNSHIP OF BRUCE BY-LAW No. 885 A By-law to authorize the borrowing of $227,600.00 upon debentures to pay for the building of an eight room Central Public School for the Bruce Township School Area Board in the Township of Bruce. WHEREAS The Public School Board of the Township chool Area of Bruce has made application to the Township Counci of the said Township of Bruce to pass a By-law for the issuing 0 debentures for the purpose of building the Central Public School con isting of eight rooms and a general purpose room AND WHEREAS the said Council has by resolution a proving such application AND WHEREAS it is expedient to borrow for the pu pose of the said erection a sum not exceeding $227,600.00 upon th iredit of the Corporation and to issue debentures therefor beari at the rate of 5-3/4% per annum and to provide for any di count and any expenses incidental to negotiation and sale of such d OF BRUCE enacts as follows: THEREFOR.E THE COUNCIL OF THE CORPORATION OF THE OWNSHIP 1. For the purpose aforesaid the Corporation shall upon the èredit of the Corporation at large a sum not exe Two Hundred and Twenty-Seven Thousand, Six Hundred Dollar ($227,60Q.) and shall issue debentures therefor in sums of not less t an $50.00 each. Each debenture shall bear interest at the rate of -3/4% per annum. The first payment of interest shall be made on De 15, 1965 to cover the period commencing on Novemoer 2, 1964 a d thereafter interest shall be paid annually on December 15 during the currency of the said debentures. Each debenture shall have coupon attached thereto for the payment of such interest. 2. All the d"bentures shall be dated November 2, 19 be issued at one time and within one year after the date . . ~ -'!! - 2 - passing of this by-law and shall be made payable in annua instalments on December 15 in each of the years 1965 to 1 84, both inclusive, and the respective amounts of principal and in erest payable in each of such years shaH be the amounts as des gnated in the attached schedule and marked "An.. 3. The debentures shall be payable as to both princ pal and interest in lawful money of Canada at the office of of Canada at Paisley, Ontario and at the principal office bank in either of the Cities of Toronto or Montreal, at Bank option. 4. The said debentures shall be sealed with the se Corporation and signed by the Head of the Councilor by orne other person authorized by by.law to sign the same, and by the Treasurer. The said interest coupons shall be signed by the Treasur rand his signature thereon may be written, stamped, lithograp ed or engraved. 5. Co~encing inothe year 1965 and thereafter in e ch y~ar during the .currency of the said debentures, the Corporat on shall levy and raise the specific sum shown for the respective year shown in the fourth column of the said Schedule wAil by a spec sufficient ·therefor over and above all other rates, upo all the rateable property of ratepayers who are supporters schools in the sa$..d Township School Area of Bruce. 6. The said d~bentures may contain a clause provi ing for the registration thereof pur¡¡uant to Section 323 of The Mun cipal Act R.S.O. 1960 C 249. 7. Pending the saleQf $aid debentures, the Reeve and the Treasurer. may raise for the aforesaid purposes by way 0 loan on such d~b.~tures, any sUm or sums of money not exceeding in all the ',:-,. '~:. -. sum herèby authorized to be bOrrowed and may hypothecate such debentul.s for such loan~ ¡""". READ a first and second time this day 1964. _____L_~___ Clerk ie . !t f - 3 - of READ a third time and finally passed this , 1964. day q L h-../ - ~~ded.:------~-¡;· -:0:--- ---~~-~~¿~ ~------- Clerk Certified to be a true copy. --~?~---~~~~--~-------- Clerk , ",,,~' - 8CDDUY or la'ItDtI'fms '217,600. 'fOØ8Il 01' IJL ..b.., OII'rARIO 5 3/"" JIø..e.l1*l. Dò..i:u.. t'O .. dated 80_-1' 2, 19M. .... _tur. Dec.-ber 15, H5.. IM4, 1.acrluJ.... Year , ld¥i~l a~"""· 'Iotal 1964 , -- . 1,141.71 , 1,54 .76 - 1965 6,600. U,.7.00 19,61 .00 .-- 1966 7,000. 12,707.10 19,70 .50 v 1967 7,000. 11,101.00 19,30 . 00 </" 1968 .,000. 11,M2.50 19,90 .50 1969 ',000. 11,442.10 19,44 .50 , .,~_.- 1970 ',000. 10,912.50 18,98 .SO 1971 9,000. 10,122.50 19,52 .50 1t72 9,000. 10,005.00 19,00 .00 1973 10,000. 9,"" .50 19,'" .50 1974 11,000. 8, '12.50 19,91 .50 1975 11, ooø. .,".00 19,28 .00 1976 11,000. , , "'7 .10 19,64 .50 1977 12,". 1,"7.. 18,95 .50 1978 U,"'. ',2.,.50 19,26 .50 lt79 14,teO. I,PO.OO 19,52 .00 'I 1980 15,000. 4,711.00 19,71 19811 11,000. 1,15'.$0 1t,85 1982 16,000. 2,tn." 18,93 1983 17,000. J,012.1O 19,01 U84 . ~ ~ 1 '217,600. flU, 116.26 \ ,,^, ~~ . . Î j f 1 - ! 1 .'