HomeMy WebLinkAboutBRU 56 733 Borrowing By-lawLI. 44ai IIu.
73
. ;1 y -tat; c:uthof ct u the borrowing of
( upo:t aobunttc^oo for the
ptn pond of mil:12M a grant to the Nincardino Golorat
Itonpital,
proviniol In mac undor the I.unicipel Act
tthoroby ntmtci?ulitinn nLej ruko grant° to Atblic Iloopituln;
;;;T' 17.1:1::_.3 It in Coniroa to ram a gran to the
Eincardino General 3ioapital;
.:ail i : . :� ; it is crpo iant to borrow for the Ins :000
aforooatc a nun not o :ccooding Five thounans4, ono Inndrod and
nlxsoty -four Dolle..rn z21.1 t: ert' -flvo canto, C15 4, 35) upon the
credit of the Corpor ;xt!en, : nd to inane Liotxxlturon thorofor which
null not hair Sntoront;
it In c: ,odiont to cnl :o tho principal of the
onid debt t'oit able in aqual annual Snitalmento during the period
of .'ivo (5) you:•n after the ante of inn,to of ouch debentures
W1Dn t ::o unamt of tho whole rateable ;ma?erty of
the umicipaiity, according to the last rovinod aoeenument roll
thereof is :2,513,3.25;
L V) t,T;t0 1-u1 the amount nt of tho oxintinj dobonturo clobt of
the Corporation o::cluoivo of local inprovonont dobto noeured by
npocial rated or araoancantn is Nil and no ;art of the principal
or interact of ouch debt in in urroare;
LILACT.1 A3 POLLOI S:
2--
:% IAI:IL.' 1 by order Qatod tho
day of 19 , :ho Ontario Euniolp of Board has
approved trio pD000 of tho oaid borrouing and the panning of
all roquioito by -logo including nob ntu»o byelowo;
i t i ?opd: tho Council of tho Corporation of
The :ovnahip of fruoo
1. Por tltc purpose aforoaala tho Corporation shall borrow
upon tho credit of tho Corporation a pun not osceeding
Pivo thousand, ono hundred and ninety -four Dollard and thirty -
fivo °onto ( 5, 1 9 4 .35) and rh0&1 lnauo Qobonturos thorofor in cum
of not loon than (1,000,00 oaoh.
2. All the dobonturoe ohall boar the name date, shall be
iocuod at °ago time and wit'tin fivo yearn after the day on which
thin by -law in panned tray boar any dato within ouch fivo yoara
and than be made poyablo in equal annual botalcxonto during tho
porlocl of fivo yearn (5) next aftor the dato of loom thereof.
3. Trio Oobonturoo ohall be payablo in lawful ro,y of Canada
and nay bo ntada pxlyablo at ouch place or Macon In Canada as
ohall bo dooignatod thoreon.
4. The paid doba turoo shall bo coalod with tho Seal of the
Corpomtiar ana nicnod by the hood of tho Council or by ooao
other p orncm authorized by by -law to sign tho same and by the
Treasurer.
5. Conmmo in in tho year 1956 and thereafter ! n oath year
in which an inotaltant of principal of tho °aid debt b000noo Quo,
tho Corporation nail levy and ra!no the paid sun. Such gun
shall be lovioel ana raised by a opocial rato cuffioient thorofor
over and above all other ratoa tncn all tho rateable proporty in
titre ::trt3 oipxility.
6. Tho oaid dobonturoo nay contain a clause providing for
tho rociotration thoroof purouant to Section 335 of the Eunloipal
.trot.
7, l'cmding tho oalo of tho cold dobenturoo tho hood of the
Council and tho Troaauror nay raise for tho purp000c aforooaid by
way of loan at ouch debenture° my can or num of money not ex-
uding 000ding in all tho aua horoby authorirod to bo borrowed and
Tarry iiypotiooato ouch dobonturos for ouch loan.
p, Tho Corporation 01a11 havo tho richt at Ito 'option to
rodoon tho dob nturon oithor in idholo or in part an any dato
prior to maturity at tho placoo ilhore and in tho moneys in which
tho said dobonturoa oro oxPr0000d to he payable upon paynont of tho
prinoipal sum thoroof and upon giving previous notioo of paid in-
tention to rodoon by advortto2nc cnco in the Ontario °Grotto and
ounce in a daily newspaper of general provincial circulation pub -
liolcod in tho City of Toronto, and onoo in a local nowopapor, if
anal, ouch notion to bo advortiaod as aforesaid at loact thirty
dayo before tho Cato fi:cod for roc omption. fotioo of intention
co to rodoom nha l aloo bo pont by pout at loaot thirty days
prior to tho auto cot for ouch rodomptian to cash person in whose
nano o debenture no to ho redwood is rogtotorod at tho addrocp
ohcxm in tho Debenture flogintry Book. t,!horo only a portion of
tiro dobonturos k:- .1...- `.41... -t , of thio Souuo to 00 to be
rodoonod ouch portion shall oompriao only the dabonturap that
havo tho latoot maturity Caton and no dobonturo of thin ioauo
ohall bo called for ouch redocpttat in priority to any each
dobonturo that has a later maturity date.
J AD a first and p000nd timo this
February, 195
-goal a ¶»1v4 tine :cad finally panned
tibia
Cay of
any of
tadde
Cleric. •
r
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ato
oh
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BEFOEE:
years.
ONTARIO
THE ONTARIO MUNICIPAL BOARD
IN THE MATTER OF Section 67 of
"The Ontario Municipal Board Act"
(R.S.0. 1950, C. 262),
- and -
III THE HATTER OF an application
of the Corporation of the Town-
ship of Bruce for authority to
proceed with and raise 43,000.00
for the purpose of making a certain
grant to the Kincardine General
hospital.
P.F.B. 5490 - 56
H.C.ROAANB )
Vice- Chairman )
Tuesday, the 10th day of
- and - )
C.1.hUNN ) April, 1956.
Member )
IT IS ORDERED, under and in pursuance of the
legislation hereinbefore referred to, and of any and
all other powers vested in the Board, that the said
application be and the same is hereby approved, and
that the Municipality may now proceed with the said
undertaking, and for such purpose may pass all requisite
by -laws, including by -laws providing for the issue of
debentures repayable over a term not exceeding three
GO
C
t, n.4.41
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