BYLAW - $125,000.00 For Electrical Power and Streetlight Service - 19600524 - 144460[J
THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NUMBER 1444
A By-law to authorize the issue of
Debentures in the principal amount of
$125,000 for extensions and improve-
ments to the Electrical Power Distri-
bution System and the Street Lighting
System of the Town of Aurora.
WHEREAS The Corporation of the Town of Aurora owns
an Electrical Power Distribution System and a Street Lighting
System managed by the Aurora Hydro-Electric Commission;
AND WHEREAS to provide, in part, funds required for
extensions and improvements to the said Electrical Power Distri-
bution System and the said Street Lighting System, it is deemed
expedient to issue and sell Debentures of The Corporation of the
Town of Aurora in the principal amount of $125,000 bearing
interest at the rate of 6-1/4% per annum, which is the amount of
the debt intended to be created by this By-law;
NOW THEREFORE, the Council of The Corporation of the
Town of Aurora enacts as follows:
1. THAT for the purpose aforesaid money shall be borrowed
on the credit of The Corporation of the Town of Aurora at large
by the issue and sale of Debentures of the Corporation in the
principal amount of $125,000 bearing interest at the rate of
6-1/4% per annum and having coupons attached thereto for the
payment of such interest annually on the lst day.of June/in each
year of the currency of the said Debentures.
2. THAT the Debentures shall all be dated the lst day of
June, 1960, shall be payable in twenty annual instalments on the
lst day of June in each of the years 1961 to 1980, both inclusive,
and the respective amounts of principal and interest payable in
each of such years shall be as set forth in Schedule "A" hereto,
which is hereby declared to be and form part of this By-law.
THAT the Debentures shall be payable as to both prin-
cipal and interest in lawful money of Canada at the Bank of
Montreal in the Town of Aurora or at the principal office of
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the said Bank in the City of Toronto or in the City of Montreal,
at the holder's option.
4. THAT the Debentures shall be sealed with the Seal of
the Corporation and signed by the Mayor, or by some other person
authorized by by-law to sign the same, and by the Treasurer, and
theinterest coupons attached to the said Debentures shall be
signed by the Treasurer. The signature of the Mayor to the said
Debentures may be written or engraved, lithographed, printed or
otherwise mechanically reproduced and the signature of the Treasurer
to the said interest coupons may be written, stamped, lithographed
or engraved.
5. THAT in each of the years 1961 to 1980, both inclusive,
there shall be levied and raised by a special rate sufficient there-
for over and above all other rates on all the ratable property in
the Town of Aurora, at the same time and in the same manner as
other rates, the respective amounts falling due for principal and
interest in such year as set forth in said Schedule "A" hereto.
~ READ a first, second and third time and finally passed
the Jtf day of May, 1960, by a vote of three-fourths of all
the members of the Council.
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. I YEAR
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1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NUMBER 1444
SCHEDULE "A"
TOTAL
PRINCIPAL INTEREST ANNUAL PAYMENT
$ 3,;000,00 $ 7,812.50 $ 10,812.50
4,000.00 . 7,625.00 11,625.00
4,000.00 7.375.00 11,375.00
4,000.00 7,125.00 11,125.00
4,000.00 6,875.00 10,875.00
5,000.00 6,625.00 11,625.00
5,000.00 6,312.50 11,312.50
5,000.00 6,000.00 11,000.00
5,000.00 5,687.50 10,687.50
6,000.00 5,375.00 11,375.00
6,000.00 5,000.00 11,000.00
6,000.00 4,625.00 10,625.00
7,000.00 4,250.00 11,250.00
7,000.00 3,812.50 10,812.50
8,000.00 3.375.00 11,375.00
8,000.00 2,875.00 10,875.00
9,000.00 2,375.00 11,375.00
9,000.00 1,812.50 10,812.50
10,000.00 1,250.00 11,250.00
10,000.00 625.00 10,625.00
$125,000.00 $96,812.50 $221,812.50
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