BYLAW - Authorize the Amount of $65,000.00 to be used for Enlargment and Renovation of the Aurora Memorial Arena - 19490722 - 102649of the Municipal Corporation of the
Town of Aurora.
BETI{G A BY.;,LAW TO AUTHORIZE TRE ISSUE OF DEBENTURES IN THE PRINCIPAL
A.M:IUl'IT OF SIXTY-FIVE THOUSAJ.'ID ($65,bOO.dO) Dollars to provide for the
enlargement and renovation of the Aurora Memorial Arena, and for the
installation of an artificial ice plant.
WHEREAS the Corporation. of the Town of Aurora deem it expedient
to alter, repair and to enlarge the existing arena and to instal therein
an artificial ice plant, the new structure to be kzfown as •Aurora Memorial
Arena".
AND \\HEREAS it is necessary to borrow for such purposes the sum .·
of Sixty-five Thousand ($65.000.00) Dollars upon the credit of t.m Corporation,
to issue debentures therefor bearing interest at various· rates as set forth
in Schedule •A• attached hereto.
AND ll!l:EREAS hy ();rder dated he~ 1 · day of' ;;riA Hi: 19J, the
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dntario lii!J.nicipal Board, pursuant to.clause 1 of SectJon 70 of.theOntario
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llll,ulicipal Boarli~:gt.and amendments thereto has .!Uthorized the issue of such
debentures and the raising of the monies required for the peyment of such
debentures in the manner hereinafter provided and has approved the exercise by
ghe Corporation of its powers to prpceed with, authorize and provide monies
aforesaid, and has ~proved the purpose of the said borrowing and the pasmng
of all requisite by-laws including debenture by-laws.
AND WHEREAS the :Department of Mil.nicipal .Affairs pursuant to the
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provisions of Section 404 (30) of The Municipal Act has a;pproved of; the expenditu.
heretofore mentioned.
AIW WHEREAS the whole amount of the rateable property of the Mil.nicipaJ.i·
according to the last revised assessment roll is $!-9'3 d .... t/d:( .5. 6 a
AND WBEREAS, the amount of the debenture debt of the r.Jorporation
is$ 122,530.42, and no part of the principal of the sum·is in arrearss
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AND WHEREAS it is expedient to make the principal of the said debt
repayable in annual instalments during the psriod of ~ years after the
date of issue of such debentures_. th$ respective amounts of which 'illi.ll, w:tth the
payment due for interest in each year in respect of the debt, be as nearly as
possible the same, subject to the provioo that each instalment of prim;ipal may
be for an even One Hundred Ibllars br multiple thereof, and that notwithstanding
anything herein contained the annual instalments of principal andinterest may
differ in amounts sufficiently to admit thereof;
THEREroBE the Corporation of the Town of Aurora enacts as. followsc
l. FOr the purpose aforesaid there shall be borrowed on the credit of
the Corporation at large, the sum of Sixty-five Thousand ($65.000.00) Jbllars
and debentures therefore shall be issued bearing interest at the va:dous rates
as set forth in the Schedule •A• attached hereto and having coupons attached
thereto for the p~ment of the interest'•
2. All the debentures shall bear the same date, shall be issued at one
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time and within one year after the d~y on whii:oh this By-Law is passed, mlli9"
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bear a;ny date within .. such ~ar/~.~hall be made payable in annual instalments
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durin~ the period of ~years next after the date of issue thereof, and the
respective amounts of pril).cipal and interest payable in each of such years shall
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be the amounts so designated in Schedule • 11A• hereto annexed.
3. The debentures shall be payable as to both principal and interest, .. in
lawful money of Canada and may be made payable at such place or places in Canada
as shall be designated thereon.
4. The said aebenture shall be sealed with the Seal of the Corporation and
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signed by the head of the Counoi1, or by some other person authorized by By-Law
to sign the same, and by the Treasurer. The said interest oo•upons shall be
signed by the Treasurer and his signature thereon may be written, stamped,
lithorgraphed or engraved.
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5. Co1mnencing in the year 1950, and thereafter in each year in which an in-
stalment of principal of the said debt am interest become due, the CollJOration shall
levy and raise the specific sum shown for the respect! ve year in the fourth col=
of the said schedule. SUch sum shall be levied and raised by a special rate sufficient
therefor, over and above all other rates, upon all the rateable property in the
MUnicipal! ty.
6o The said debentures may contain a clause providing for the regi: stration thereof
pursuant to Section 336 of The lifimicipal Act.
7o Pending the sale of the said debentures, the head" of the Council and the Treasurer
may raise for the purposes aforesaid by way of loan on such debentures any sum or
sums of money not exceeding in au the sum hereby authorized to be borro.ved and Il\ay
hypothecate such debenturesfor such loan.
s. The COllJOration shall have the right, at its option, to redeem the said de-
bentures either in whole or in part on any dat'e prior to maturity at the places
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' where and in the moneys in w~ich the said d~be~ures are expr~ssed to be payable,
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upon payment of the principal amount thereof, together with interest accrued to the
date of redemption and upon giving previous notice of said inten,ti on to redeem by
advertising once in the Ontario "'(fa~~ette and once in a daily newsparer of general,
provincial cirrulation, published in the City of lrorouto, and once in a local newsparer,
such notice to be advertised as aforesaid at least thirty days before the date fixed
for redemption. l'iotice o:f' intention so to redeem shall also be sent by post at ll;last
thirty days prior to the date set "for such redemption to each person in whose name
a debenture so to be redeemed is registered at the address shown in the Debenture
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Registry E,ook. Vlhere only a portion of the debentures of this issue is so to be re;.
deemed, such portion shall comprise only the debentures that have the latest maturity
dates and no debenture of this issue shall be called for such redemption in priority
to any such debenture that has a later maturity date.
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9. Uj;lon notice being given as aforesaid, the debentures or debenture so called
for l;'edemption, shall be and become due and p~zyable on the date fixed for redemption
in the same manner and with the same effect as if it were the date of maturity specifiec
in said debenture, and from and after such date so fixed for redemption, interest upon
the said debentures shall cease unless P~Wment oft he redemption price shall not b.e
made on presentation and surrender of the debenture certificate as therein provided,
on or after the date so fixed for redemption •
.READ a first time and passed by the Council of the Gl'orporation of the Town
of Aurora, this J {, day of May, 1949.
READ a second time and passed by the Council of the Corporation of the Town
of Aurora this } b day of May, 1949.
MAl'OR
BEAD a· third time and finally passed by the Council of the·Corporat~on of
. the Town of .Aurora this ..(':?h<fda;y of ;Ti7 ~~ 1949.
TOWN 0 F AURORA
Schedule •A•
Rei'erred to in By-Law No. 1026
Year PrinoiMl kl&& J:;a:t..tU:as:t Total. Pavment
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' ' 1950 $ 5,000 !i% $ 1,887.50 $ 4,887.50 ..
1951 5,000 "" 1,812.50 4,812.50
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fiJ,.,~52 5,000 n 1,757.50 4,757.50
1955 5,000 II 1,662.50 4,662.50
1954 5,000 R 1,587.50 4,58'7.50
1955 5,000 $ 1,512.50 4,512.50
=~-~56 5,000 • 1,450.00 4,450.00
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1957 5,00Q • 1,547.50 ' 4,547.50
l958 5,000 • 1,265.00 4,265.00 ,.
' :tJ~59 5,000 •• 1,182.~0 4,182.50 //i _____ , ... -
1960 ' 5,ooo 5% 1,100.00 4,100.00
1961 i··:-5,ooo II ~: 1,010.00. 4,010.00 "' ' \
1962 5,000 • 920,06 5,920.00
il.965 5,000 II 850.00 c3,850.oo .,
' il964 5,000 II 740.00 .. 5,740~00
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:i965 4,000 * 650.00 4,650.00 ,,
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1966 4,000 II 520.00 4,520.00
J,.967 4,000 u 590.00 4,590.00
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August 29, 1949.
(PLEAS!:: QUOTE FILE NO.)
P.F.C-75El
~· N. Clark, Esq.,
rown Clerk,
Aurora, Ontario.
Dear Sir: Re: Town of Aurora -Validation By-law
No. 1026 ($65,000.00 forenlargernent and
renovation of the Aurora ''"emorial Arena
and for.the Installation of.an artificial
ice Plant.
Further to our letter of the 18th instant, I
am forwarding to you duplicate originals of the Board's
Orders pursuant to Section 64 of the Board's Act and
Section 305 ~15) (dl of the Municipal Act.·
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Y?urs truly, ..
\. B. SAND~RSOif,} /
SECRETARY. f'J!Y' . ·· ·
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ONTARIO
THE ONTARIO MUNICIPAL BOARD
·~~fli('iay 1 . th~. E~hte~nth day 0! Au~&u$t.., A.,n,. , 194'1.•
:s :m ·:F· o a E .t l n 'l;M1l .i4A'£'£E~ or ~•t~t:ton '"' ·~·, $UbSf;!¢ti,Qn (1~} {a). f!if ll'fht
. .·.· .. ·•. ·.Mu .. ···!li~l.;pa ..• l .... A· e.· t.·· ... n. · ·. • .. f R ...•. ~s .. ~. • o. ·• .. ·.• .. · . ·. · · 19)7.. GhB"pt$~ · 266)t ·. IU'l.(i
;tit1HJ£ ,t;!ATtiR. ow· iy~law ~Cll•.
W • P • l\i$fl,_,., B.A.~c .• ,
.V:t~E .. CHURM'A~.
. .:.and.; .
l... ;1~-6 flit' t)!~ .c:o,pe:rat.lle~. ef .·
) t.h.e 'l'GW'-\'l \\'If A~ii>'V$ .,. (#6).,00Q~()Q
·~· :fQll' t}le ~nlall'gemeffl; an¢1: ll" ..
· .·.•.···. ·· nova.t:i¢n of th~ Au};'ora Hl!Ultori~ l'<:renat and 1J,he in~Stdlatio»
~· of an· artUi®l Ue plant.}
UPO~~ 'l'liE APPLlCA'l'lON OF the sai~ Corpor>ation .
and upQn eonsideratitlU'I o;f t.he ttlatetial fil~dt
WID£ BOARD O.lil.D$U, tmd1el' lil:lld in p~rl!luance tiff
the provi~t~:hms of Section 30~t eubl.l$(id&n (15) (d)
of tt'fbe<.~hipal.Aet"; (R.S~o; .. J,~)'f. Qh!I\Pter 266),,
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th.at. tile mannl;l:r ot gi'lrtng poUt• of 1ntfiln.ti¢in to
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l1'Meem dii!benture Iii a uthe:d '.!led by tli!e said pl'\ilp.Qf.Jed lly ... l.aw
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.NUJubel" 1026 int.:l.t.uledJ ")y .. :l,;aw lll~mber 10~6 of .the
.Muni:oipal CorpOl%\.t.ion ot the '.t'l)wn a:r Aur~JI'a Ele~ng
a lly•law t<~ Autbor:l.!lle tihe :issue d dtbentur.as i)l tbe
principal. ~J~mou:nt ef d:<:t,y ... £i:ve t.houllland {$6fit<li*llO.C0)
dollar.$ to prcrv1de · for the enlargell';$nt and re:novatic>n
of the A'!nr"ora Meme:d.al Arena,. lind fo¥' tM installrat1on
of an artificial ice pl.&nt",. be and t.be same is hereby
e,pprll'l'Ved•
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VlCE""C:t.tAlW!,..
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ONTARiO
THE ONTARIO MUNICIPAL BOAflD
~~onday, tbe Twenty-second day of August, A..D.., 1?49•
B E F 0 H. E ;
R. s. Colter, K.c.,
CHAIRMAN, ·. .
w. P~ Near, B.A.Sc.,
VICE~CHAIH.MAN,
-and.. · .
w. J .• Mo .. or·e·1 . o •. L.s., ME!ilnll\it~ •
·~. IN THE MA'l'Tll:R OF Section 64
o! Part" IV of "'Thlit Ont•.ri.o
Municipal Board Jtetlf (R.s.o.
) 193'7 • Chapter 60) • ane . . .)~ IN Tfig JvlATT!~R. OF ~n applica ..
tion by thli! Corporat:i,ort o;f ·
the '.l.'own of Aurora for approvt,tl
) andvalidation of it~:S ~y ... law
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)J)· Number 1026• .. ($6;,oso.oo for the enlargeraent a1td re ..
novatio)'l. of th.~ .1\lil~~:ra, •"~moria). ·
'· Arena, and th"i in.stHl,l~ticHl
1 of an artifidal ic!i! pl;antl.
UPON THE APl'LICATION OF the saidCorpol:'at.M;n and
upon reading a copy ot the ssttd sy:;;;.law and the ~t}ler
material t'il:elh
'l'HE BOA!tD ORPERS 1 under and b. pu:rsuan~tte of the
provisions of S~~tion 64 ef Part IV of '''l'he Ont!J:fiq
Municipal ~~u·d Act" (rt.s.o. l<f)7 1 Chapter 6()), that
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' the sa.id ~:Y""law ~u~ber 1026 irl'titule<J.; lllay,.l.aw Number
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l026 of t.hfl Municipal Corp~ation of .the Town ot ,
·:r' Aur~ra 'Se:tng a By .. law to authorbe the i!lUlue ot
debttnturlll!l \in· t.he Pr~ncipal al!lOunt of Sbt)"•fi'Ve
th.ousattd (t6.~1 ooo .. oo) dollars tG provide tor the
e:n::Largement and .renovation of tl!e 1l.~ro:ra Memorial
Arena~ and fort' the :tnl:'ltalla'tion of an a:i.itidal
iefl planttt 1 be ana the .same is he.reby approvfl!d.:;.
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