HomeMy WebLinkAboutKIN1931-1040 Consolidation Debenture
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OOliaOLIDA~IUQ >>t-LAW.
Dt-LAW UG. ( () I/O .
A B1-1aw to 0011801111.0to the sum. authorisod to bo borrowo!
bl oortuln 100a1 i=p1'ovemont bl-1awa Into on. eum of t30,806.oo
and to borrow the Bume bl the 18~e of doboDturoe thorolor.
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'..Il~~AJ) 'i'iU lUUICIl'lIL CQUnCII. 01 r!U OO;ii.'Olv,'rI'lll OF ~aH
~Ollll 0' l!IlICA.,LiW3 has paoded the by-lewD horolnn!tol' montioned
providlr.g tor borrowlng mlJnol bl the lB8UO of dobentllree to
pay for t"o llooetr-llot1on of oertain works, liB 100al illlpl'OVolllODte,
t,:lIre1n roferrod to, oneol,.-
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No. of \'lh8D lIohre of SituatiOD .Amount of
lll-Law. ~a...d. Vork. of Work. tOeD.
1019 YU1 9th, 1930. 1l1dewulk. \108t 814e Oi:OZO.OO
of qU80D
Btreet.
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1931. PaVllcoot, ~uo.n stroot
Bridge. 8011th !:Itroot. .
3ldo'l7t11k. 085,000.00
1931. Onotlplo,mont Huron
Rllllef. ronooe. O~"'6.00
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A1l.D t.!lt:.UA.S tho Bggrol{sto of tho 0Wl18 l1l.\thorlsed bl the
oald. By-la1l8 to bu 1:>>1'1'0'11,4 10 tho BW01 of Thl:rtl thousand
i::1gl1t HWldre4 nnd Pin do1101'o nod it 1s doslrable to oon-
eolldato tho so14 SWDG Into one sum of 030,80a.OO and to
Issue dob~nturoB thoro!or 1n one oonDoo~tlY. 10BUO, whIch
18 tue 6mo~nt ot tho debt Inttndod to bo orented by thlD
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AllD 'jjll.3..'UAS all ot t~ie 0,,14 by-la1fo provlcl.o that the
dobell1.i.l.rUS to hI! l:lcuod thereunder shell boar ln1ioreet at
tho rato of :tl vo P"l." cont per tHln;..lII. and tlmt th8 prInolpal
or tho debt aholl bu rllpll;/6ble b y()arly !lWll8 durlIl~ tho
P'I:104 ot t118 :f1r:)t ton yoJlJr13. 01 auch Gl:l \.mta :-oopootlvull
that tho tlitl\Ni';Uto r:lllount payn:'lo far rr1nctpal and 1ntoNlot
1:1 uny Yt:H,r ahull bc aqual aB nO!lrly ClD cn.y be to ;;ho D.I:1ount
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00 p~:iude In onoh of tho 0t1l0r :1001'0. t\:ld during tho l-I.Ir1a4
L'J:J ti:c \Jlflvunth LO '.ho t~;ollt1uth YOllrll InolllB!VO f?l ou.oh
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o bo borrowo!
of too,806.00
thorofol".
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AmQunt of
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085,000.00
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~ tho purlod
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8Qou.nts r08~ootl"oly that tho BBSl'ORoto amount poynbll tOI"
prinoipul nn4 Intoraot In tlnl ,o"r ehllll bo oqWJl no noorl1
as 11181 be to the 8l:lou.nt 00 paJable In ooch ot tho othol' yoara
~r auld ten 100: poriod.
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AUD um;aus the flmoW1t ot tho wholo rateablo propol't, of 'I
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tho Uu.nlolpalltl aooording to the loot ro"io04 aUOOUBDont roll I
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II 01,201,981.00. I
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ADD ~~Wlf~.B ~ho &Qount of the ex10tlng dobonture debt ot
the aQD101pa11tl, ezolualve of looal Impro"aQont 4obto ooou:od
bl epeeial rute' ot asaeasmonte, Is OS25,C29.f.L. DO part of
the prinolpal or lntorest of whloh is In arrears, and tbe
Corporation al.o 41d 8UBrantoo pa1C1ent ot tbo bondo ot tho
Ontario loot Shore BPilwa7 to the amount ot 060,000.00.
n~ I~ fIDmJ,;"O~ .::;JIAC'l'BD !lY ~;';, lrol:rCIl';'L CoUncIL (ll' ::'lffi
CO.~0aATIOH 0' ra~ ~o~u 01 KIHCAADIBj 88 fOllow.,_
(1) !he Ogml authorl.e4 b1 the 8ui4 b,-laws to bo borrowed
are horob, 000101146t04 into one 8UQ ot O~.n06.00.
(2) lor the purpoee afor'S8id there &hall be botl"ow.d on the
ore41t at the Corporation ot l~Re the Dum ot rhlrtl
fbo\181lnd ,Ugbt Hundred and Jive Dollare and debenture I ohall
be 110ue4 thorofor in on. oon'eoutive 189U8 In OUQo ot not
leae than $60.00 eaob, bearins interaot at tho rate ot tlve
per oent por annum and bnvlng ooupons attached thoreto tor
paiment ot interost.
(a) Tho uobonturoe 8hal1 611 bonr tho 08~e date and nba1l
bo ls8ued within two years attor the da, on whioh tho earl1est
of tho auld by.lavl1 TlaD PSBIl4d, aod may bosr ulIY illite vi thin
such tow years, u~d shnll be payaclo in tuunty annutil instal-
lIIenta (luring the tvonty y~aro next ntter the timo vlhell the
0111118 a..-a 1eluod, l.iod ~ho respootive 6QOunta ot pt'lnclpn1 Gnd
IntlJrest pll.ynt1e In elloh or ou~h yearlJ sholl bo tlQ follows:_
...... -- :_~~-~':=z:-:-':':,:~"~r~_-~_F-:'''''''- . "_'.._~.._~.~-~~.-_-:T_ _ ..-..:;..---:;,.
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lIo. l'l."1nolpal. Intorollt. fotal.
1. 121'1.00 1610.25 87157.88
I. 1870.44 14n.87 8'167.83
3. 1M2.39 14lti." 8'16'.88
4. 1400.G1 1348.32 8'167.08
6. 14-79.00 le77.04 2707.08
6. 1563.98 1103.06 ..,69.88
'I. 1631.68 ueG.1!! 8'1!!7.88
8. 1718.8., 1044.06 C.,a7.88
9. 1719.04 IUIG.'V e.,67.08
10. 1800.80 068.96 270'.08
u. 1em..1>6 774.61 2000.06
tal 1Il03.12 718.96 2006.06
13. 1357.79 640..7 EOO6.06
14. 1416.67 600.30 !OO6.O6
Ul. 14CJ6.9G 500.11 2006.06
16. 10'11.00 4M.E6 2006.06
17. 1660.40 3LlS.Cl6 2006.06
18. 1 '132.01 273.16 2c06.06
19. 1619.06 1011.00 2000.06
80. 1010.~4 05,6B 2000.06
(4) tbo ~ob~n~~~.a UG to both p'rlnolpa1 and lnt.root, Dba11
bo oxproaDod in CGba4aln CQr~oncJ end ehnll be P678blo at
tbo Ilon!; ot Uontrenl at lto brnnoh in tho .14 ~ ot
Kinoardine.
(6) fho u.:or and troaauror of ~h. Corpo~ltlon ebb11 ol~D nn4
101)1,10 ;,,0 llobon;;u,l'Oil ~.nd tho tronuutQr ot the CO:'!lQrntlon
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tlMU u1[;n ~ho IntuNot OOI1\>ODO /lod tho dobontllroo 00011 bo oOllltJ4
~1tb ;hO Gaol of .bo Corporatione
(6) rho aoD41 to bo barrowIJ GO a!nroQ~ld ehall bo apportioned.
ol",Hl1t1ng IJGob "0..':'; tll~h ~ho utlo\ltlt or tllO 10M provide'" :01"
by tho b1~lt~~ Nlat1n~ ~hel."oto 118 above 13ot-forth.
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Ct) fhlu by-law shull come into toroo Hn4 'Rka etfeot OD the
fotal.
87157.88
8767.83
.'1G7.8S
8'167.08
2707.88
8'169.88
8'187.88
1:767.88
27G7.08
270'.08
2000.06
2006.06
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2006.06
2006.06
2006.06
2c06.06
2000.06
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