BYLAW - to Consolidate the Sums Authorized to be Borrowed - 19581103 - 138358,, . ' -,_ ·--~·"~--, ..
BY-LAW NO. 1383
of the Corporation of the Town of Aurora
BEING A BY-LAW TO CONSOLIDATE THE SUlVIS AUTHORIZED TO BE BORROWED
BY BY-LAWS NOS. 1381 and 1382 INTO ONE SUlVI OF $179,997.00 AND
TO BORROW SAME BY THE ISSUE OF DEBENTURES THEREFOR.
WHEREAS the Council of the Corporation of the Town
of Aurora has upon the approval of The Ontario Municipal Board,
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, I passed By-laws Nos. 1381 and 1382 authorizing the borrowing of the ~
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respective amounts of $115,000.00 and $64,997.00, upon the credit
of the Corporation and the issue of debentures therefor, for the
purpose of construction and equipment of a new Public School and
an addition thereto.
AND WHEREAS the Council deems it expedient to borrow for
the above purposes a sum not exceeding $179,997.00 upon the credit
of the Corporation and to issue one series of debentures therefor
bearing interest, payable annually, at the rates shown in Schedule
11 A11 attached to and forming part of this by-law.
AND WHEREAS the amount of the, whole rateable property of
the said Municipality according to the last revised assessment roll
thereof is $7,739,113.00.
AND WHEREAS the amount of the existing debenture debt
of the Corporation, is $1,502,876.61 and no part of the principal
or interest of such debt is in arrear.
AND WHEREAS by Orders dated the 4th day of July, 1957
and the 24th day of June, 1958 bearing File Nos. (P.F.D. 7649-57)
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1 'respectively', The Ontario Municipal Board has approved the purpose
of the said borrowing and the passing of all requisite by-laws·
including debenture by-laws;
THEREFORE THE COUNCIL OF THE MUNICIPAL CORPORATION OF THE TOWN OF
AURORA ENACTS AS FOLLOWS:
The sums authorized to be borrowed under the authority
of by-laws Nos. 1381 and 1382, are hereby consolidated into one
sum of $179,997.00 and the Corporation shall borrow upon ;its
credit the said sum of $179,997.00 and shall issue debentures
therefor.
2. Each debenture shall bear interest at the rates set out
\f~f , ,for the respective years in Schedule "A" attached to this by-law and
shall have coupons attached thereto for the payment· of the said
"!interest.
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3. The debentures to be issued shall be twenty (20) in number,
one falling due in each year of the said term, and the value of
each debenture shall be in the amount of the annual interest :payable
on such debenture and the said cou:pons, for each debenture, shall
be in the res:pective amounts as com:puted and shown in Schedule ·c 11 B11 hereto annexed and forming :part of this by-law.
The debentures shall.be dated the 30th day of Se:ptember,
1958 and shall be made :payable in twenty (20) annual instalments
one the 30th day of Se:ptember, in each of years 1959 to 1978, both
inclusive, and the res:pective amounts of :princi:pal and interest
:payable in each of the .said years shall'be the amount so designated
in Schedule 11 A11 attached to and forming :part of this by-law.
5. The debentures shall be :payable as to both :princi:pal and
interest in lawful money of Canada, at the o:ption of the holder,
at the Bank of Montreal in the Town of ~urora, or at the :princi:pal
office.of the said Bank in the City of ~oronto.
6. The debentures shall be sealed with the seal of the
Cor:poration anlft 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 cou:pons shall be signed by the Treasurer and the
signature thereon may be written, stam:ped, lithogra:phed or engraved.
The said debentures may contain a clause :providing for
the registration thereof :pursuant to section 335 of the .Munici:pal
Act.
8. Pending the sale of the said debentures the Head of the
Council and the Treasurer may raise for the :pur:pose aforesaid by
wasy of loan on such debentures, any sum or sums of money not exceed-
ing in all the sum hereby authorized to be borrowed, and may
hy:pothecate such debentures for such loan.
9. The res:pective amounts authorized to be borrowed by by-
laws numbered 1381 and 1382 res:pectively of the said Cor:poration
are hereby consolidated in this byOlaw and no debentures authorized
by the said by-laws numbered 1381 and 1382 shall be issued other
than as :provided in this by-law.
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READ· A FIRST AND SECOND TIME THIS r: DAY OF
READ A THIRD TIME AND FINALLY PASSED THIS {) DAY OF k,
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' 1958 •.
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THE CORPORATION OF THE TOWN OF AURORA
liJ ?;j BY~LAW NO. • ••• ·• .....
r~ Schedule "A''
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Debenture Year o!
No, JYaturity Principal ~ Interest ~
1 1959 $4,997.00 5~% $11,187.58 $16,184o58
2 1960 5,200.00 5~% 10,900.25 16,100.25
3 1961 5,500•00 5~% 10,601.25 16,101.25
4 1962 5,800.00 5~% 10,285.00 16,085.00
5 1963 6,100.00 5~% 9,951.50 16,051.50
6 1964 6,500.00 6% 9,600.75 16,100.75 ..
7 1965 6,800.00 6% 9,210.75 16,010.75
8 1966 7,300.00 6% 8,802.75 16,102.75 r\ . ' 9 1967 7,700.00 6% 8,364.75 16,064.75 ..•. p (
~_,-_1·"""'-i 10 1968 8,200.00 6% 7,902.75 16,102.75
11 1969 8,700.00 61,% 7,410.75 16,110.75
12 1970 9,200.00 6~% 6,867.00 16,067.00
13 1971 9,8oo.oo 6~ 6,292.00 16,092.00
14 1'172 1(}.t4oo.oo 6~% 5,679 .. 50 16,079 .. 50
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15 1973 u,ooo.oo 6~ 5,029.50 16,029.50
I 16 1974 11,700.00 6!% 4,342.00 16,042.00
~-1\ 17 1975 12,500.00 ~% 3,581.50 16,081.50
18 1976 13,300.00 ~% 2,769.00 16,069.00 ,£;,
19 1977 14,200.00 6!% 1,904.50 16,104.50 -J !
l I; 20 1978 15,100.00 6i% 981.50 16,081.50
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$179,997.00 $141,664.58 $321,661.58
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973 1974 1975 1976 1977 1978
15 No. 16 No. 17 No. 18 No. 19 No. 20 TOTAL
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_______ g87.:u_
598.00 --, _____ ,,~.--.. -·---
948.75
1,334.oo:
2,340.00.
2,856.oo:
3,5o4.oo!
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4,158.ooj
~=i=l===='====*===='====l====ll==~4±. o~:2~0!4.~o~oi = !
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9 100.00 ---··· I ----__ , -------
B7 .51
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12.51 13,812.50 II -...... :
54. 5<
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864.50 864.50 864.50
. .. -------. -.... 15,561.00
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