BYLAW - Borrowing of $28,110.00 - 19570819 - 13357LJ
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BY-LAW' NUMBER /33S
of the Jvlunicipal Corporation of the
,, T01rlN OF AURORA
A BY-LAW TO AUTHORIZE THE BORRmVING OF $-28,110.00 UPON DEBENTURES FOR
THE CONSTRUCTION OF A SEWAGE PUMP HOUSE ON LOT 106 PLAN 246 AURORA,
A TRUNK SEVIER 'rHEREFROM EX'l'ENDING SOUTHERLY TO viEL:f.rNGTON STfl.EET AND A
~QRCEMA TN EXTENDING FROJvi THE PU!V!PHOUSE TO A STRIP OF LAND EXTENDING
ASTERLY FROM CENTRE STREET AND VIESTERLY ALONG SUCH STRIP OF LAND:. AND
ALONG CENTRE S'rREET TO CATHERINE STREET AND TO ACQUIRE A SEVIER
EASEMENT OVER SUCH STRIP OF LAND .
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~~EREAS the Council of the Corporation of the Town of Aurora deemed it
expedient to construct a sewage pump house on Lot 106, Plan 246, Aurora,
a trunk sewer extending the~efrom extending southerly to Wellington
Street and a for~emain extending from the pump house to a strip of
l~nd extending easterly from Centre Street and westerly along such strip
of land and along Centre Street to Catherine Street and to acquire a
sewer easement over such strip of land, and for this purpose to borrow
a sum not exceeding $28,110.00 upon the credit of the Corporation, to
issue debentures therefor bearing interest and payable in accordance
, with Schedule' 11 A11 hereto, J and to provide for the discount and the
expense incidental to the preparations and negotiations and sale of
such debenturest
AND WHEREAS it is expedient to mak~ the said debt repayable in annual
instalments during the period of 20 years neoct after the date of issue
of such debentures, of such amounts respectively that with the interest
in respect of the debt the aggregate amount payable for principal and
interest in each year shall be, as nearly as possible, the same;
AND WHEREAS the amount of the whole rateable property of the Corpor-
ation according to the last revised assessment roll thereof is $5,567,09000
AND vffiEREAS the existing debenture debt of the Corporation is the sum
, of $1,078, 568.00 of which no part of principal or interest is in arrea.rs;
AND WHEREAS by Order dated the 14th day of IVIarch, 1956, Number P.F.D.
4458 (6-9) -55, the Ontario Municipal Board, pursuant to Section 67
of The Ontario Municipal Board Act and of section 388 (1) paragraph
66 of The Municipal Act, has approved the purpose of the said borrow-
ing and the exercise by the Corporation of the Town of Aurora of its
powers to proceed with, authorize and provide monies for the purpose
of the said borrowing and the passing of all requisite by-laws,
including debenture by-laws;
AND WHEREAS the Department of ~ealth of Ontario has approved the
of the said borrowing;
purpose)
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TH8HEFORE TID; COUNCIL OF THE CORPORATION OF TID; TOWN OF AUROH.A.
ENACTS AS FOLLOWS
1. For the purposes aforesaid there shall be borro>ved upon
the credit of the Corporation a sum not exceeding ~~28,HO.OO and the
Corporation shall issue debentures therefor in the sum of not less
than $100.00 each.
2. All the debentures shall bear the same date, shall be ..,
issued at the one time, during the year 1957, after the date on
( which this by-law is finally passed and shall be made payable ,
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in annual instalments during the period of 20 years next after
the date of issue thereof, and the respective amounts of prin-
cipal and interest payable in each of such years shall be. the
amounts so designated in Schedule "A" hereto annexed, iVhich said
schedule is hereby declared to form part of this by-law.
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.
lr. The said debentures shall be sealed vrith the seal of the
Corporation and signed by the head of the Council or by some other
person authorized by by-law to sign the same, and by the Treasurer.
The said interest coupons shall be signed by the Treasurer and his
signature thereon may be iVritten, stamped, lithographed or engraved.
5. Commencing in the year 1958 and thereafter in each year
in iVhich the instalment of principal of the said debt and interest
become due, the Corporation shall levy and raise the specific sum
shown for the respective year in the fifth column of the said
Schedule "A". 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 Municipality.
6. The said debentures may contain a clause providing for the
registration thereof pursuant to Section 335 of the Municipal Act.
7. Pending the sale of the said debentures, the head of the
Council and the Treasurer may raise for the purpose aforesaid by way
or sums
of a loan on such debentures any sum/of money not exceeding
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in all the sum hereby authorized to be borrowed and may hypothecate
such debentures for such loan.
READ A FIRST AND SECOND TIME THIS / ~ DAY, OF AUGUST, 1957.
Clerk
READ A 1'HIRD TIME AND PASSED THIS I 4 DAY OF AUGUST' 1957.
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Clerk
I, William Johnson, Clerk of the Corporation of the 'rown of Aurora
do hereby certify that the foregoing is a true copy of By-Lal'l No.l333
which has received three readings by the Council of the. above
Corporation and which three readings were approved by iLvote'of-at· :c
least three.,.ftrf:t!lths:cof.:tlie>Council and finally passed this 19th
day of August, 1957.
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~OWN Oi' AURORA
Schedule •A• to. Sy-Law .N(). 1):3:) as. Anu;JMed by J;ll .... Law No. 134)
$~8.110.60
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19$8
19$9
l960
1;61
1962
196)
1964
19,$
1966
196?
19,8
1969
19?0
1971
19?!
l'?)
19?4
197.5
1~?6
1~71
at $. -'J/4,.~ ti)J<.> ·1~~.~. to. $.· ... th. y. •a.r .in.· .. ol\ls .. i'fe 611 til)%' 4th. 1iG ·lJ>tll. ;v-ea.1> 1nc1us1"te ft~ 'l!$71' 111!h. tl') 1fth. · t•lll" lncl"'t~l.'fe ~~Jtd ~)II: to71' 1t;th~ tl') :!!Gth~ ;'1&8.!11 tnel~l!liVe
tl:!:l!OJl!Al! l;NflliN;§~ tQTAJ:
t '7ltl.GO $ 1,747.$2. • 2,4$7.$2
soo.oo 1,707,60 a,,S07.GO
. ~oo.oo l.~6&J..oo 2.,.$61.00
~oo.oo 1.,,09.2$ 2,,SG9.Z$
900.00 1,$$1.$0 2~4t7.50 ~~ •. '
l.,ooo.oo l,.S0$.75 a,so.s.1s
I
:t.,lno,oo 1,44$.?5 2,.$4$,?5
1,100,00 1,379.75 2,479.75
1~200,00 1,,,., . .,, 2,$1).?$.;
1,;300,00 1,241."/$ 2,541. 7$
J.f40o.oo 1,163.71 ~.,,,.'1$
t,_soo,oo 1,01,.2, :z.,;?4.a;
l,,Soo.oo 9$2 • .$0 ?.,4$2.$0
l 1 6oo.oo $8B.?J 2,488.1§
1,?oo.OG .188,15 2,488,?5
l,S0$,00 6$2,$0 z,J.i.s::a.,So
:a,Qoo.oo 5.S5:.50 2,56.!$.$0
Z,'l:~O.OO 4)$.50 z.n.s • .so
2,200,00 :e99.M z .. 4<:>.,.oo
.2,400.00 1$6.00 :a • .s.stS.oo
$28,110.00 $22,201.$2 G,.S0,)1( •. $2
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