BYLAW - Borrowing of $59,000.00 - 19590406 - 140559·.• .. ·.--~~ ... ] I
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THE CORPORATION OF THE TOWN OF AURORA
By-Law Number 14 05
A By-law to authorize the borrow-
ing of $59,000.00 for the purpose
of the .construction of watermains
house connections on certain streets
as set forth in construction By-law
Number 1349.
WHEREAS it is expedient to ·borrow the sum
of $59,000.00 for the installation of the above-mentioned works
on the credit of the Corporation of the Town of .Aurora, to
issue debentures therefor, bearing interest at the rate shown
in Schedule uAu attached hereto, payable annually, and to
provide for the discount and the expenses incidental to negotia-
tion of sale of such debentures;
AND WHEREAS the amount of the whole rateable
property of the Municipality, according to the last revised
assessment roll thereof is $8,814,030.00;
AND WHEREAS the amount of the existing
debenture debt of the Corporation is $1,867,200.00 and no
part of the principal or interest of such debt is in arrears;
AND WHEREAS by Certificate Number 57-B-537
dated the 25th day of November, 1957, the Ontario Water
Resources Commission has approved the said works;
AND WHEREAS by Order dated the 6th day
of January, 1958, 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 CORPORATION
OF THE TOWN OF AURORA ENACTS .AS FOLLOWS:-
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raised by a special rate sufficient therefor over and above all
other rates upon all the rateable property in the Town of .Aurora.
6. The said debentures may contain a clause
providing for the registration thereof pursuant to Section 335
of The Municipal Act.
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 amount hereby
authorized to be borrowed and may hypothecate such debentures
for such loan.
READ a first, second and third time and
finally passed this 6th day of .April, 1959.
TOWN OF' AURORA
~.'
Schedule ttA" to By-law No .J fi P :J
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$59,000
6Jf,. Debentures.. ,,
r YEAR PRINCIPAL INTmEST TOTAL
:\~
196o $ 2,000 . $ 3,54o $ 5,540
1961 2,000 3,420. 5,420
1962 2,000 3,300' 5,300
1963 2,000 3,180' 5,180
1964 2,000 3,06o' 5,0®
1965 2,000 2,940' 4,940
1966 2,000 2,820. 4,820
1967 2,000 2, 700 . 4,700
1968 a,ooo 2,580. 5,580
1969 3,000 2,400. 5,400
1970 3,000 2,220. 5,220
/':' 2,040. 5,04o It _ 1971 3,000
1,~"-. 3,000 186o· 4,860 .: """" 1972 I·
'" ·-· " "" '''"1973 3,000 1,680· 4,680
'" .,
1974 4,000 1,500· 5,500
1975 4,ooo 1,26o. 5,26o
..
1976 4,ooo 1,020. 5,020
... :1977 4,ooo 780. 4,780
··. -,., ' : 1978 4,000 54o. 4,540 .
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. .. -1979 5,000 300' 5,300
$59,000 $43,140 $102,140
Dated April 6th A.D.l959
THE CORPORATION OF THE
TO'VN OF AURORA
BY-LAW 1405
Lorne C. Lee, Q.C.,
Barrister, etc.,
AURORA, Ontario
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