BYLAW - Amend By law 1206 - 19550413 - 122355~
BY -LAW NUJVIBER L~!j,.'J.,
of the Municipal Corporation of the
TOWN OF AURORA
A BY-LAW TO AMEND BY-LAW NUMBER 1206, BEING A BY-LAW TO AUTHORIZE
THE BORROWING OF $80,000.00 UPON DEBENTURES FOR THE PURPOSE OF
ERECTING AND EQUIPPING AN ADDITION TO THE HIGH SCHOOL FOR THE
AURORA HIGH SCHOOL DISTRICT •.
vffiEREAS the Council of the Corporation of the Town of
Aurora with the approval of The Ontario Municipal Board by Order
dated the lOth day of September, 1954, as Number P.F.D. 1015,
passed By-law Number 1206 to authorize the borrowing of $80,000.00
upon debentures for the purpose of erecting and equipping an
addition to the High School for the Aurora High School District.
AND WHEREAS it is deemed expedient to amend the said
By-law Number 1206 to provide that the Corporation shall issue
the required debentures to bear interest at the rate of 4%
per annum instead of at the rate of 4~% per annum as provided
by the said By-law Number 1206, and also to provide that the
first instalment of principal and the first payment of interest
be levied for in the year 1956 instead of 1955.
, THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN
OF AURORA ENACTS AS FOLLOWS :
1. That the fifth recital paragraph of the said By-law
Number 1206 be and the same is hereby amended by striking out
the word and figures 11 1955 to 1974" in the third line thereof
and by inserting in lieu thereof the word and figures 11 1956 to
1975 11 so that the said recital paragraph shall now read as
follows :
11 AND V.ffiEREAS it is expedient that the principal of the said
debt shall be repayable in yearly instalments of principal
during a period of twenty years, namely, during the years
1956 to 1975, both inclusive, in the respective amounts set
forth in Schedule 11 A11 hereto attached."
2. That the said By-law Number 1206 be and the same
hereby further amended by striking out the figure "4~" in
paragraph one thereof and by inserting in lieu thereof the
figure "4" so that the said paragraph shall now read as
follows :
is
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"1. For the purpose aforesaid the Corporation shall
borrow upon the credit of the Corporation a sum not exceeding
$80,000.00 and shall issue debentures therefor in the sum not
less than $100.00 each and bearing interest at the rate of 4
per annum payable annually and having coupons attached thereto
for the payment of interest."
;3. That the said By-law Number 1206 shall be and the
same is hereby further amended by striking out Schedule "A"
attached thereto and by attaching or by inserting in lieu
thereof Schedule 11 A" att!lched to this By-law.
READ A FIRST AND SECOND TIME THIS liTH DAY OF APRIL, 1955.
Clerk
!(.
A THIRD TIME AND PASSED THIS /3 DAY OR APRIL, 1955.
Clerk
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"' $80,000
~ Aurora District High School
l-20 vear 4% debentures
Principal Interest
2,500.00 3,200.00
2,500.00 3,100,00
3,000,00 3,000,00
3,000,00 2,880,00 .
3,000.00 2 '760.00 3,000.00 2,640.00
3,500.00 2,520,00
3,500,00 2,380,00
3,500.00 2,240,00
4,000,00 2,100,00
4,000,00 1,940,00 .
4,000,00 1,780.00
4,500,00 1,620.00.
4,500,00 1,440.00
4,500,00 1,260,00
5,000,00 1,080,00
5,000,00 8$0,00
5,500,00. 680,00
5' 500.00 . 460.00
6,000,00 240.00
$80,000.00 $38,200,00
Annual
Payment
5,700,00
~,600,00 ,ooo.oo
5,880.00
5,760,00
5,640.00
6,020.00 .
5,880,00 .
5 '740.00 .
6,100.00
5,940.00.
5,780.00
6,120.00
5,940.00
5,760.00
6,080.00
5,880,00
6,180.00
5,960,00
6,2~0.00
$118' 200\;'00
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