BYLAW - Borrowing of $6,250.00 - 19550207 - 121655,,
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of the li!Unici:pal corporation o:f
the Town o:f aurora
A BY-LA.W TO AUTB.ORIZE THE BORROWING OF $6,250.00 UION DEBEiilTORliS JJOR ~'HE CON-
S!I'RITCTION OF A SANITARY Sli\VER FROM THE INTERSE:JTION OF COUSINS DBIVE A!ID WELLS
STREET TO THE INTERSECTION OF EDWARD ST:REE:T AND DUNNUG AVENUE EX.TE!lSIONo
wEEREAS :pursuant to Seotion 368 Subsection (l) R.s.o. 1~50 0.243,
the oounoil is authorized to borrow upon debentures o:f the corporation such
sun1 or sums of money as may be requir~d to complete, improve, alter, enlarge
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or extend the sewage system o:f the oor~oration;
J'.ND VIHEilll'AS it is expedient to enlarge or extend tlla sewage system
o:f the Corporation o:f the ~own o:f ..iurora by constructing a sanitary sewer or
tl'unk sewer :from the intersection o:f oou.s.ins Drive and Wells Street to the inter-
;0· • section o:f M.ward street and .Dunning Avenue J;;Ittelisi on and :for this purpose to
' L.J borrow a sum not exceeding l)jl6,250.00 upon the oredi t o:f the corporation, to
?;¥ l~sue debentures therefor beSl'ing interest at the rate of 4!-per centum :per
al:Dlum payable annually, and to :provide for the discount and the expense incidental
~:-'!' * . to> the pre:taration and tlla negotiation and sale o:f such debentures;
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ihstalments
debentures,
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..UID WHEREAS it is expedient to make the said debt repayable in annual
during the :period of 15 ,~rs next. after the date of issue o:f such
of such amounts respectively that with the interes.t in respect o:f
the .<iebt the aggregate amount p,p.yable :for :principal and interest in each year
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shall be, as nearly as possibi~, the same;
'lfJ' kND WHERJ:<;,~S the amount o:f the whole rateable :property o:f the M.'unicipality ~·
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ac'coniing to the last .r~ised assessment roll thereof is $ o!L. ;)-i c, ;); 3.
,, '*'• . AND .:WAS the existing debenturl'debt o:f the l'l!micipality is~he sum
[] o:f 1jjl,fil~.c'.l.'J...-o:f which no part o:f ];ll"incipal or interest is in ax·rears;
AND .W'BEliEAS three :fourths and more o:f the members of the i.iouncil of the
Oorporati on of the :rown o:f Auror~ has. voted in :favour o:f this J3y-law;
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a!ID VIEEREAS by oertiflcaU · dated the ~~day of ;4\!e:D,f!t~~· 1954, the
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the ~partment of Health of Ontario has approved the purposes of the said
• bor.rowi:og;
• ~liD WHEREAS by Order dated the first day of vctober, 195~
· · unta.rlo
the out aria Municipal Board pursuant to Section 67 of 1Jhe/J'I1llllci:ph Board act
~llW'UIIIlX-~~~~lilllit¥'' • oilell" Gi@ •IJ'8!""111Glltlill.t~-er
~>56& a etp•xl' J&dg g.•** s 51*rpx-Ff6!1F*'4 xmttwxdttocisJ:eiJG'if 113'4JIIK't~lialt~~
. t.he purpose of the said borrowing an(!.
~~has approved{the exercise by the Corporation of the Town of aurom.
of ;!.,ts powers to proceed with, authorize and provide monies for the purpose of r ~
the said borrowing and the passing of all requisite by-laws, ·including debenture
by-laws;
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of the
THE.HEJJO.HE THE 1\!UlUCIPAL COBNCIL m·!:iJ;;HE GORPOEATION OF THE
TOWN OF AUROltA ENACTS. AS FOLLOWS: . . ' --.
FOr the purposes aforesaid there shall be borrowed upon the credit
Corporation a sum not exceedi~ ~6,250.00 and shall le issue« debentures
"" therefor in the sum of not less than ~loo.oo each. Buch debentures shall bear
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interest at the rate of four anc1cone quarter per centum (4;!%) per auuUI!l payable : ~·
annually and shall have coupons attached thereto for the payment of such interest.\,.
2. !if; All the debentures shall bear the sam~ date, shall be issued at the ~-~
one time and within one ye:J after the day on which the purpose of the said
borr~ing wasapproved by Order of fhe Ontario Municipal .Board, may bear auy date ,,
within such year and s~ be made payable in annual instalments during the
period of 15 years next after the date of issue thereof, and the respective amounts -of princ~al and interest payable in each of such years shall be i<'he amounh
so, designated in -Scl$dule ~A" hereto a;nnexed, which said schedule is hereby de-\ ~'
cl~ed to form part of this by-law. ~
3. TheJebentures shall be payable as to both principal and int'erest in
la £ul money of Canada and m!liY' be nade payable at such place or places in Canada
as shall be~esignated thereon.
4. The said debentures shall be sealed with the beal of the Corporation
and signed by the head of the Council or by some other person authorized by by-law
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~p:· sign the same, a!ld by the Treasurer. The said interest coupons shall be
;igned by the Treasurer a.lld. his signature thereon may be written, stam,ped ~ ~· ~
lfthographed or engraved. ~
5. Oollllllencing in the year 1955 a!ld thereafter in each year in which
~ instal.n1ent of princi:pal of the said debt .a!ld interest become due, the
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Corporation shall levy a!ld raise the specific sum shown fo1' the respective
rear in the fourth column of the said o:>ohedule "A"• t>uoh sum~all be levied
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sufficient therefor over and above all \~·. other and raised by a special rate
t&tes upon all the rateable property irl;ithe Municipality.
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2he said debentures may contain a clause providing for the regis-~:in.·.~ .. ·.··_, ..
t~tion thereof pursuant to tiection 335 of the MUnicipal Act. ~ ...
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7. .Pending the sale of the said debentures,. the head
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of the Council
and the treasurer may r~se for the purpose aforesaid by way of a loan on such
~bentures
ized to be
s.
any sum or sum.· s. of money not exceeding~in all the sum hereby author-1\. ~ .• •
borrowed and may hypothecate such debentures for such loan. ~
The corporation shall have the right at its option, to redeem the
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debentures falling due in the last year as ~hown in the .said schedule thereof
a. the places where. arul. in the moneys in which the said Jtbentures are e:x;pressed
to be payable, upon paymant of the principal 82llount thereof together with interest
aocrued to the date of redem@tion and upon giving previous notice of said in-
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tention to redeem by advertising on~e in the ontario Gaxette and once in the
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daily newspaper of general Provincial circulation, published in .the Oity of • • Toronto, and once in a local newspaper, such notice to be advertised as afore-
s'id at least thirty days prior to the date fixed for redam,ption. Uotice of
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said intention so to rede&t'shall also be sent by post at least thirt~;l'days
-ior to the date set for such redemption ~o each person in whose name a debent-~~
ure so to be redeemed is registered at the address shown in the .uebenture ~' .
.tt~ilstry BOOlto ..1 • if~
VP~ notice being given as aforesaid, the debentures so called for
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~ r~demption, shall be and become due and p~ble on the date fixed for r~-
dempt ion in the same manner and wl th the same effect as if it were the date
'Ill of maturity spec':i:f'ied in such debenture, and from and after such ak;e so
fixed for redemptioil; interest on the said debentures shall cease unless
p~ent of the redem;ption price shall not be made on presentation and sur-
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render of the debenture c~rtificate as therein providelf on or attar the date---\'{\· .,.
so fixed for redem;ption. ' "-' \ "~
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.ii.E!i.D A FOOT AND SECOirt TIME THIS ~ <j' DAY OF SEPTEMBJm, 1954. ;
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,. READ A THillD TIME iU'ID PASSED THIS 7 ,. DAY Ol'' ~rub, • 195~
Clerk
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FORM A •.
ONTARIO
THE DEPARTMENT OF HEALTH
PROVINCE OF ONTARIO
Sewerage Approval
3Jt ill qtt'tby ttt'tifitb tqttt the Council of the municipal corporation of the ••• TOVi'N ••• • •
of ., .......... o ••• "'AUROR.i\ •......................................................
has submitted to the Department of Health plans, specifications and an application for the approval of: •
a sanitary sewer to be constructed as follows;
'STREET
Easement Corner of Edward St.
and Dunnin,; Avenue
Corner of Cousins 1
Drive and 'I'/ ells St.
as shown on Drawing 2B-724, Town of Aurora, prepar(?d by Proctor,
Redfern & Laughlin, Consulting Engineers, dated July 195l;, at a
total estimated cost of SIX THOUSAND TWO HUNDRED AND FIFTY
DOLLARS ($6,250.00)1 ----------------------------------------~
and~~at the Department of Health has inquired into and reported upon the work to be undertaken as to
whether the same is calculated to meet the sanitary requirements of the inhabitants affected thereby
and as to whether such works are likely to prove prejudicial to the health of the inhabitants of the
municipality or of any other municipality liable to be affected thereby, and that the construction of the
saidworkshasbeenapproved by the Department, in accordance with section 106 of The Public
Health Act, R.S.0.-1950, c. 306.
\f1 DATED AT TORONTO, THIS .................... ;J,l.~h-c ...... DAY OF .................... A.~gY:~!1 ...................... 19 . .5..4. ..
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