BYLAW - Consolidate Amounts to be Borrowed - 19550425 - 122155I . I
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BY-LAW NUMBff!R I :J..2., (
OF THE M.UNICIP.AL CORPOR.A'I'ION OF THE
TOWN OF .AURORA
A BY-LAW TO CONSOLIDNI'E INTO 01\f.E DEBE:f)fl'URE BY-LJ\W THE AMOUNTS
REQ,UIRED TO BE BORROWED AS AUTHORIZED BY BY-LAW NUMBER 1216,
as AMENEDED BY BY-LAW l\TOJ'JIBER 122~,, BEING A BY-LAW TO AUTHORIZE THE
BORROWING OF $6,2.50. 00 UPON DEBEN'l'URES FOR THE COl\fS'rRUCTION OF A
SANITARY SEWER FROM T'l:ill INl'ERSiCTIOl'J OF COUSINS DRIVE MJb WELLS
STREET 'l'O THE INTERSECTION OF EDWARD STREET AND DUNNING AVENUE
EXTENSION ~~ND BY-LAW N0111BER 1220 BEING A BY-LAW TO iiUTHORIZE::JTHE
BORROWING OF $1.5,000.00 UPON DEBENTURES FOR A GP~NT OF $1.5,000.00
T10 THE AURORA MEMORIAL AREN.~ BOARD :f!'OR 'I'liE PURPOSE OF AIDING IN '"}IE
ALTERING .AND MAINTAINING OF THE .AURORA lJ!illMORI.AL .ARENA.
1i'ffiERE.AS the council of the corporation of ·i;he Town of
Aurora, with the approval of The Ontario MUnicipal Board by Order
dated the 1st day of oc·tober, 19.54, as Number P.F.D.2134, passed
By-law Number 1216 and by Order dated the 11th day of .April, 19.5.5,
passed .Amending By-law Number 1222 to authorize the borrowing of
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$6',2.50.00 b;y· the issuance of debentures for the construction of
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a sanitary sewer from the interfjection of Cousin!? Drive and
Wells street ·to ·t;he intersection of Edward street and Dunning
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.Avenue extension, and to provide that the said sum of $6,2,50.00
shall be repayable in 1.5 years •
.A1il:l W1:!ERBAS the council of the corporation of the Town
of .Aurora, with the approval of The Department of Municipal
.Affairs, as. required by section 386, Paragraph .53 of The Municipal
Act, R •. s .• o. 19.50, Chapter 243, and with the approval of The
Ontario Municipal Board by Order dated the 18th day of November
19.54, Number p.F.D. 2.573 , passed By-law Number 1220 to authorize
the borrowing of $1.5,000.00 for a grant of such aJLOunt to the
.Aurora Memorial .Arena Board for the purpose of aiding in the
· al taring of and mt'jtntaining of the Aurora Memorial .Arena, and
to provide that the said sum of $1.5 ,000. 00 shall be repayable
in yearly sums with in ter.est during the period of twenty years •
.AND WHEREAS it is desirable to consolidate into one
Debenture By-law the amounts required to be borrowed for the .pur-
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poses aforesaid under the said by-laws and to issue debentures
therefor in one consecutive issue •
.AND WHEREAS the amount of the whole rateable property
of the corporation of the Town of .Aurora, according to the last
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revised assessment roll thereof is
5, ::l17i, :;u;
$ and the
amount of the existing debenture debt of the corporation, exclus-
ive of local improvements secured by special rates or assessments
"'-ei is $ !, oc;!l J-:::2. _.--·
THEREFORE THE COUNCIL OF THE CORPOR!\TION OF THE
TOWN OF .AURORA ENACTS .AS FOLLOWS:
1. The sums authorized to be borrowed by the said by-laws
are hereby consolidated into one sum of $21,2,50.00 and debent-
ures shall be issued therefor in one consecutive issue in sums
of not less than $100.00 each and bear interest. at the rate of
4j. per annum payable annually and have coupons attached thersto
tor the payment of interest.
2; .All dabentures shall bear the same date, shall be
issued at one time and within one year at'ter the day on which
this By-law is passed, may bear any date wi"t;hin such year and
shall be made payable in annual instalments covering the period
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of twenty years next after the dai{e of issue thereof and the re-
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spective amoui:J. ts of principal end interest payable in. each of
such years shall be the amount so designated in schedule "A"
attached hereto.
3. The debentures shall be repayable as to both principal
and interest in lawful money of canada and may be payable in sue~
place or places in Canada as shall be designated thereon.
4. The said debentures shall be sealed with the seal of the
corporation and signed by the head of the council, or by some
other person authorized to sign the same by by-law, and by the
Treasurer. The interest coupons shall be signed by the Treasurer
and his signature thereon may be written, stamped, lithographed
or engraved.
,5. The said debentures may contain a clause providing for
JrtJcf3 the registration thereof :pursuant to section 33.5 of The MuniciJ?al
.Act~
6; Pending the sale of the said debentures, the head of the
council end the Tr'easurer may raise for the purpose aforesaid by'
j44iflf5 way of a loan on such debentures any sum or sums of money not
exceeding in all the sum hereby authorized ·to be borrowed and·
may hypothecate such debentures for such loan.
7. " The Corporation shall have the right at its option, to
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I redeem the debentures falling due in the last years shown in
the said schedule thereof at the places where and in the moneys
in which the said debentures are expressed to be payable, upon
payment of the principal amount thereof together with interest
accrued to the date of redemption and upon giving previous notice
of said intention to' redeem by advertising once in the ontario
Gazette and once in the daily newspaper of general Provincial
circulation; published in the City of Toronto, and once in a local
newspaper, such notice to be advertised as aforesaid at least
thirty days prior to the date fixed for redemption. Notice of
said intention so to redeem shall also be sent by post at least
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 Registry Book.
8. Upon notice .being given as aforesaid, ·the debent..,
same effect as if it were the date of maturi·ty specified in such
debenture, and from and after such date so fixed for redemption,
interest on the.said debenture shall cease unless payment of the
redemption price shall not be made on presentation and surrender
of the debenture certificate as therein prov-ided on or after the
date so fixed for redemption~
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READ A FIRST .1\ND SECOND TUllE THIS // day of .APril, 1955.
Mayor clerk
RE[!D'A
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'riME A])Jl) PASSED THIS ;)~ day of flr--t 19 5;
Mayor Clerk
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SCHEDDLE ".A"
For the consolidation of BY""' Law Numbers 1216 and !.t ;{ 0
of the Corporation of the Town _of .Aurora
$21,250.00
1 -20-year.L41o Debenture
Year Principal Interest .Annual
Payment
rt_ $ 800.00) $ 850.00 $1,650.00 l .r"l\..: -" .
2 -!7~"7 800.00 818;00 1,618.00
3 .;e 8,50.00 786.00 1,636.00
4 n 1,000.00 7.52.00 1,752.00
5 ~ () 1,ooo.oo 712.00 1,712.00-
6 G, I 1,000.00 672.00 1,672.00
7 0v 1,000.00 632.00 ~ 1,632.00
8 6,3 1,100.00 592;00 1,692.00
9 t.; 1,100•00 .548;00 1,648.00
t_O t.!' 1,1oo.oo i~'~ 504.00 1,604.00
n 6( li300.00 460.00 . 1,76o.oo --12 "1 1,300.00 408.00 1,708.00
13 t~ 1,300.00 356.00 1,6_56.00.
14 f,i 1,300.00 304.00 1,604.00.
15 'J'<> 1,400.00 2.52.00 1,6.52.00
16 ?' -,900.00 196.00 1,096.00
17 .i 1,000.00 160~00 1,160.00
18 3 1,0oo.oo 120;00 1,120,00
19 -f 1,000;00 80.00 1,080.00
20· f 1,ooo.oo 40;00 1,o4o.oo
$21, 2.50. 00 $9,242.00 $30,492~00 ---
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I C LORNE C. LEE, O.C.
1 ilil=t.>.tn, .®.<tli:t:it<r~, ~~' .m.
AURORA, ONTARIO
May 28th, 19.?.5
Mr• Geo~ge Wilkinson
Clerk, Town of Aurora,
AURORA, Onterio.
Dear George:
Re : validation of BY~1aw No. 1221
consolidating BY"'laws Nos• 1216
(as amended by By;.;.l!:lw Noo 1222)
and 1220 {$21,2.?0~00 for grant •
to Aurora Memoria:j; Arena Board
and construction of sanitary
sewer).
I am enclosing herewith the Board!S duJ[D.;
licate original OaMer pursuant to section 61 of the MUnicipal
Board Act, issued as of the 11th of May, 19.?.?. I also enclose
voucher covering payment of the Boards fee<
Yours very truly,
LCL/pcs
Encls.
THE ONTARIO MUNICIPAL BOARD
I P.F.tP-)tj-:-) . r -
TORONTO, __ -f---t-,-L--~b_I95J/
-22-$ ____ _
No: 693
THE' ONTARIO
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ONTARIO
THE ONTARIO MUNICIPAL BOARb
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t&fti!I<Ji~~~~~~~ be and the Sail!$ 41'111 tuiHbf app~"!fed.
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