BYLAW - Borrowing of $9,600.00 - 19580217 - 133657.r=-.',""""'-~~~~·, ... ,., ;...· ~
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BY-LAW NUMBER I J¥
of the Municipal Corporation of the
TOWN OF AURORA I-, i/~~-; ;:;<;}
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A BY-LAW TO AUTHORIZE TIIE BORROWING OF $9,600.00 UPON DEBENTURES
FOR THE PURPOSE OF PAYING FOR THE CONSTRUCTION OF SANITARY
SEWERS ON CENTRE STJI!EET FROM SPRUCE STREET TO YONGE STREET AND TO
PAVE CENTRE STREET FROM SPRUCE STREET TO YONGE STREET, IN THE
TO\vN OF AURORA, UNDER THE PROVISI ON3 OF THE LOCAL IMPROVEMENT ACT.
WHEREAS the Municipal Corporation of the Town of Aurora,
with the approval of The Ontario Municipal Board, by Order dated
the 23rd day of July, 199+, Number P.F.D. -1922, passed By-law
Number 1193 to provide for the construction of sanitary sewers
on Centre Street from Spruce Street to Yonge Street and to pave
Centre Street from Spruce Street to Yonge Street, as a local
improvement under the provisions of the Local Improvement Act
and to provide for the payment thereof by the issuance of
debentures repayable in yearly sums with interest during the
period of fifteen (15) years.
AND WHEREAS, pursuant to the said By-law Number 1193,
the works are authorized to be done as a result of a petition,
as local improvements under the Local Improvement Act.
AND WHEREAS the costs of the works 1vere Nine Thousand
Six Hundred Dollars ($9,600.00).
AND WHEREAS special assessment rolls have been prepared,
pursuant to The Local Improvement Act, covering the special
assessment required by the said By-laws No. 1193 which assess-
ment rolls have been adopted by the Court of Revision.
AND WHEREAS the amount of the whole rateable property
of the municipality according to the last revised assessment
roll thereof is ~~ S: S67o~t1. and whereas the amount of the
existing debenture debt of the Corporation, exclusive of local
improvements secured by special rates of assessments, is
$ ~ o7?; s-6?. tJ-O
THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF AURORA
ENACTS AS FOLLOWS :
l. For the purpose aforesaid the Corporation shall borrow
upon the credit of the Corporation a sum not exceeding Nine Thousand
Six Hundred Dollars ($9,600.00) and shall issue debentures
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therefore in the sums not less than One hundred Dollars ($100,00)
each and bearing interest at the rate of six per cent per annum
payable annually and having coupons attached thereto for the
payment of interest.
2. The debentures shall be dated the 30th day of
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September, 1957, and shall be made payable in fifteen (15) annual
instalments on the 30th day of September, in each of the years
1 1f
1958, to 1972, both inclusive, and the respective amounts of
~principal and interest payable in each of the said years shall
be the amount so designated in Schedule "A" attached to and
forming part of this by-law.
3· The debentures shall be payable as to both principal
and interest in lawful money of 0anada, at the option of the
>(holder, at the 6A"'t< ~ r?o<vfta:.ill .. in the Town of Aurora, or \/
\at the principal office of the said Bank in the CittJ~f Toronto,l""~9~·""cJ
4-. The debentures shall be sealed with 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 the signature thereon may be written, stamped,
lithographed or engraved.
'1 5. Commencing in the year 1958, and thereafter in each
year in which an 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 4-th column
of the said Schedule "A". Such sums shall be levied and raised
as follows ;
(a) The Corporation's share, amounting to $5,'~~0. :;);?and
interest thereon, shall be levied and raised by a special rate
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l,~J sufficient therefore over and above all other rates upon all
the rateable property in the Municipality.
(b) For the payment of the ovmers' share and interest thereon,
the special assessment set forth in the special assessment roll
is hereby imposed as
d
follows :
$ ;{. 76 per foot frontage for the constructi~~ of ~ ~/~s#~~~JPJ ~~
sanitary and storm se'lvers,.ol:l: all"i&eg o;t;•Iterm:ee!y i9t;;""''"'t lAl'O'st,
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as authorized by the said By-law Number ~193.
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 of loan on such debentures, any sum or sums of money not
exceeding in all the sum hereby authorized to be borrOived, and
may hypothecate such debentures for such loan.
READ A FIRST Al\lD SECOND TIME THIS f?j day of August, 1957.
Clerk
READ A THIRD TIME AND PASSED THIS / 7 day
Mayor
BY-LAW NUMBER 1336 ---------{ /~;:;t
of the Municipal Corporation of the
TOWN OF AURORA
A BY-LAW TO AUTHORIZE THE BORROWING OF $9,600,00 UPON DEBENTURES
FOR THE PURPOSE OF PAYING FOR THE CONSTRUCTION OF SANITARY
SEWERS ON CENTRE STREET FROM SPRUCE STREET TO YONGE STREET AND TO
JPAVE CENTRE STREET FROM SPRUCE STREET TO YONGE STREET, IN THE r=·1 TOWN OF AURORA, UNDER THE PROVISJ:ONS OF THE LOCAL INiPROVEMENT ACT,
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WHEREAS the Municipal Corporation of the Town of Aurora,
with the approval of The Ontario Municipal Board, by Order dated
the 23rd day of July, 1954, Number P,F.D. -1922, passed By-law
Number 1193 to provide for the construction of sanitary sewers
on Centre Street from Spruce Street to Yonge Street and to pave
Centre Street from Spruce Street to Yonge Stree, as a local
improvement under the provisions of the Local Improvement Act
and to provide for the payment thereof by the issuance of
o.ebentures repayable in yearly sums with interest during the
period of fifteen (15) years.
AND WHEREAS, pursuant to the said By-law Number 1193,
the works are authorized to be done as a result of a petition,
as local improvements under the Local Improvement Act.
AND WHEREAS the costs of the rr10rks were Nine Thousand
Six Hundred Dollars ($9,600,00).
AND WHEREAS special assessment rolls have been prepared,
pursuant to the Local Improvement Act, covering the special
assessment required by the said By-laws No. 1193 which assess-
ment rolls have been adopted by the Qourt of Revision.
AND WHEREAS the amount of the whole rateable property
of the municipality according to the last revised assessment
roll thereof is $5,567,090.00 and whereas the amount of the
existing debenture debt of the Corporation, exclusive of local
improvements secured by special rates of assessments, is
$1,078,568.00
THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN OF AURORA
ENACTS AS FOLLOWS:
1. For the purpose aforesaid the Corporation shall borrow
upon the.credit of the Corporation a sum not exceeding Nine Thousand
Six Hundred Dollars ($9,600,00) and shall issue debentures
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therefore in the sums not less than One hundred Dollars ($100,00)
each and bearing interest at the rate of six percent per annum
payable annually and having coupons attached thereto for the
payment of interest,
2. The debentures shall be dated the JOth day of
Sep~ember, 1957, and shall be made payable in fifteen (15) annual
instalments on the JOth day of September, in each of the years
1958, to 1972, both inclusive, and the respective amounts of
primcipal and interest payable in each of the said years shall
be the amount so designated in Schedule "A" attached to and
forming part of this by-law.
J. The debentures shall be payable as to both principal
and interest in lawful money of Canada, at the option of the
holder, at the Bank of Montreal in the Town of Aurora, or
at the principal office of the said Bank in the Cities of Toronto
or Montreal.
4. The debentures shall be sealed 1<ri th 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 the signature thereon may be written, stamped,
lithographed or engraved.
Commencing in the year 1958, and thereafter in each
year in which an 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 4th column
of the said Schedule "A". Such sums shall be levied and raised
as follows:
(a) The Corporation 1 s share, amounting to $5,440.53 and
interest thereon, shall be levied and raised by a special rate
sufficient therefore over and above all other rates upon all
the rateable property in the Municipality.
(b) For the payment of the owners• share and interest thereon,
the special assessment set forth in the special assessment roll
is hereby imposed as follows :
$2.96 per foot frontage for the construction of sanitary and
storm sewers and $4.10 per foot frontage for paving on Centre St.
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as authorized by the said By-law Number 119.3.
6. The said debentures may contain a clause providing for
the registration thereof pursuant to Section .3.35 of the Municipal
Act.
7. Pending the sale of the said debentures the Head of
r~·, the Council and Treasurer may raise for the purpose aforesaid
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by way of loan of such debentures, any sum or sums of money not
exceeding in all the sun hereby authorized to be borrowed, and
may hypothecate such debentures for such loan.
READ A FIRST AND SECOND TIME THIS 19th day of August, 1957.
C. W;LJ<,;t/So!V
D.J. Hurray ..-_ .:r lutsen
Mayor Clerk
READ A THIRD TIME AND PASSED THIS
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