BYLAW - $370,000.00 for Public School Purposes - 19600524 - 144360[J
THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NUMBER 1443
A By-law to authorize the issue of
Debentures in the principal amount of
$370,000 for public school purposes.
WHEREAS The Aurora Public School Board has applied
to the Council of The Corporation of the Town of Aurora for the
sum of $370,000 to pay the cost of constructing and equipping a
sixteen-room school in the Regency Acres subdivision in the Town
of Aurora;
AND WHEREAS for such purpose it is deemed expedient
to issue and sell Debentures of The Corporation of the Town of
Aurora in the principal amount of $370,000 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 $370,000 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 1st day of June in each
year of the currency of the said Debentures.
2. THAT the Debentures shall all be dated the 1st day of
June, 1960, shall be payable in twenty annual instalments on the
1st 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
the said Bank in the City of Toronto or in the City of Montreal,
at the holder's option.
.5
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2
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
the interest 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
therefor over and above all other rates on all the ratable pro-
perty of public school supporters 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 L tf day of May, 196o.
J~~ l-YEAR
'-'~"'~"',.._ --
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
"~l 1971 l ' . 1972 '\ ,__ ____ ,
1973
1974
1975
1976
1977
1978
1979
1980
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$
THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NUMBER 1443
. SCHEDULE "A"
PRINCIPAL INTEREST
10,000.00 $ 23,125.00
10,000.00 22,500.00
11,000.00 21,875.00
12,000.00 21,187.50
13,000.00 20,437.50
13,000.00 19,625.00
14,000.00 . 18,812.50
15,000.00 17,937.50
16,000.00 17,000.00
17,000.00 16,000.00
18,000.00 14,937.50
19,000.00 13,812.50
20,000.00 12,625.00
22,000.00 11,375.00
23,000.00 10,000.00
24,000.00 8,562.50
26,000.00 7,062.50
27,000.00 5.437.50
29,000.00 3.750.00
31,000.00 1,9;27.50
$370,000.00 $288,000.00
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TOTAL
ANNUAL PAYMENT
$ 33,125.00
32,500.00
32,875.00
33,187.50
33.437.50.
32,625.00
32,812.50
32,937.50
33,000.00
33.000.00
32.937.50
32,812.50
32,625.00
33.375.00
33.000.00
32.562.50
33,062.50
32,437.50
32.750.00
32,937.50
$658,000.00