HomeMy WebLinkAboutKIN 42-1353 Public Arena
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OORRQRATION or 'fUR TOWN OJ' XlNOABDlNI
Br-x.n Ro. 1'''.
A By-law tor tbe purpoBe of borrowing tbe .lIlIl ot lighteen
TnOUBaD4 <118.000.00) Dollars to p81 tor the oOBt of building a
pUblio Arena.
WHEREAS the oounoil of the Oorporation ot tbl Town of
Kinoardine did on the ,th d81 of June 1?41 IUblll1 t the foUowing
question to the eleotorB of 1M lllU110ipali tJ' qualified to Tot. on
.
money by-law lit
"Are you in faTour ot the expenditure by tbe Town of lt1DOardlne
of a BWD not to exoeed 118.000.00 tor the oonstruotion ot a Oivio
Auditorium and Skating Arena'"
AND WHEREAS out ot ,61 eleoto1'8 votiJl6 on tbe que.tion,
271 Toted in tbe atti:rmatiTl and '10 Toted in tbe negatlveS
AND WHEREAS it ls expedlent to borrow tor the purpoBe
ot building a pUbllo Arena the BUIll ot tighteen 'rhouland Douere
and too 10 ls the emOll.nt of the debt intended to be oreated.
AND WHIREAS the alllOUnt ot ..h. whol. ra1teabl. prope1'ty of
the Jl'lU110ipall ty aooording to the last redled AIIellsment Roll
11 $1,154,0'18.00.
AND WHXREAS the daunt of the debenture debt of the
corporation (exolusive of looal lmprovement debt Beoured by Bpeoial
ratel of assessment) ls 1'18,110.70, anA no part ot the prinolpal
or lntvest 1.. in arrears.
Be it theretore enaoted by the Jlun101pal Oounoil of the
corporation of the ftwIl ot 1tlDOardlne as tollOWBI-
1. ror the purpole mentloned in tbe preeJllble there ebaU
be borrowed on tbe oredit of ,~he Oo~poratlon the .B1UII ot :Bighteen
'l'hOUlland DOllarl and debenture. .h"1.1 be issued therefore on the
lnstalment plan In sums not lei. than 1100.00 eaoh whioh &ball haTe
oouponB attaohed thereto for the pe.Jmllnt of lntereBt.
2. The debentures shall aU bear tbe same date and shall
be lssued w1 thin two yeare atter the date on whloh this By-Law
1s passed end may bear any date wlthin suoh tWo yoars and shall be
payable in fifteen annual instalments during the tifteen years
next after the date when they shaU be hUUK and the respeotive
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,. The debentures as to both pnncipal anA interest shall
.
be expressed in Oanadian Currenoy and shall be PB1ab1e at tbe
Town of Kinoardine, Ontario.
4. The debentures shall be signed allll 1Bsued by the JlaYor
e.D4 shall be auled with the sea1 of the Corporation, BDd the oca.pons
shall be signed by the Treasurer.
,. ])uring tbe ourrenoy of the debentures there
in eaoh year the amount of the 1nstalmen' of pr1nOipa1 e..n4 interel'
Pll1llb1e in that year aa set forth in seotion two hereof.
6. The debentures IIl81 contain any providon tor the reg1Bt-
. ration of them authoriaed bylaw.
.
7. '1'I1ia By-Law shall taka effeot on the da.r of the pa8sil18
thereot.
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2.
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amounts payable in eaoh ot poh years aba11 be 8.8 followsl-
Le slllll ot lighteen
at 'bulldins II.
Years
principal
8,8.'4
"4.'0
"2.2'
1011.1'
10.51.6,
10".'10
11'7.4,5
U82.,4
12'0.26
12'1'.4'1
1,'0.6'
1,8,.88
14".2'
149'.80
:..,".'7
Interest
'120.00
684.04
U6.6,5
60'1.7',5
.56'1.'1
.52.5.24
481.4'
4,6.00
,88.68
,,,.4'
288.2'
2".06
1".71
122.14
U.21
Total
1618.'4
1618.'4
1618.'4
1618.'4
1618.'4
1618.'4
1618.'4
1618.'4
1618.,.
1618.'.
1618.,.
1618.'.
1'18.'4
1618..94'
1618.'4
, of tbl Town at
j the touowins
.itie! to Tote on
1
2
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4
.5
6
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8
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10
n
12
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. Town of lt1no ar41ne
uotion of II. Oivio
: on the queltion,
I negatives
tor the purpose
rhousand ])oUere
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be oreated.
~a1;eab1' prop81'ty of
AIIsusment RoU
I1re debt of the
bt eeoure4 by 8peoia1
'10 ot the pnncipa1
Jipal Oouncil of the
I)W81-
umble there sball
the _8am of :Bighteen
Led therefore on thO
>> uch whioh shall haTe
Lntere8t.
same date and shall
, which this By-Law
tWo yoars and shan be
~ the fiftesn year I
It4 and the respeotive
Signed. sea1sd and J1na117 Passed the
A. D. f 1'42.
481 of
Jlqor.
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CORPORATION OF THE
TOWN OF KINCARDINE.
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A By-law tor the purpoae
ot raising $16.000.00 to pay
tor the oost or building a
publio Arena.
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BY-LAW NO.
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50liol tor I
Kincnrdine.Ont.
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