BYLAW - $18,210.00 For Sanitary Sewers and Watermains - 19600524 - 144660I
i
THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NUMBER 1446
A By-law to authorize the issue of
Debentures in the principal amount of
~18,210 to pay the cost of constructing
certain sanitary sewers and watermains
as local improvements.
WHEREAS pursuant to Construction By-law Number ! j~J
the works referred to in Schedule "B" hereto have been constructed
as local improvements under the provisions of The Local Improvement
Act;
AND WHEREAS the total cost of each of said works,
the Corporation's portion thereof and the owners• portion there-'
of (for which special assessment rolls have been duly made and
certified) are shown in columns 2, 3 and 4 of said Schedule "B";
AND WHEREAS no payments have been received by way of
commutation of special rates;
AND WHEREAS the estimated lifetime of each of the
said works is not less than twenty years;
AND WHEREAS the Council of The Corporation of the
Town of Aurora deems it expedient to borrow the sum of ~18,210,
being the total cost of said works, upon the credit of the
Corporation at large by the issue and sale of Debentures of the
Corporation in the principal amount of ~18,210 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 purposes 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 ~18,210 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.
'j
I
2
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.
3. 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.
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. ..
THAT in each of the years 1961 to 1980, both inclusive,
the respective aggregate amounts of principal and interest set
out in the fourth column of Schedule "A" hereto shall be levied
and raised as follows:
(a) For the payment of the owners' portion of the cost of
the said works and the interest thereon the special assessments
set forth in the said special assessment rolls are hereby
imposed on the lands liable therefor as therein set forth,
which said special assessments with a sum sufficient to cover
interest thereon at the rate aforesaid shall be payable in
twenty equal annual instalments in the respective amounts shown
in column 5 of said Schedule "B", and for that purpose the
annual rates per foot frontage set forth in column 6 of said
Schedule "B" a:n'e hereby imposed upon each lot mentioned in the
I
I
!
I
I
l
I J
j
1
l
j
'':..,\
I
I I
\..,", .. {
6.
3
said special assessment rolls for each of the said works
according to the assessed frontage thereof over and above all
other rates and taxes, which said special annual rates shall
be collected annually by the Collector of Taxes for the Cor-
poration at the same time and in the same manner as other
rates.
(b) The remaining amounts required in each of the years
1961 to 1980, both inclusive, to pay the respective aggregate
amounts of principal and interest set out in the fourth column
of Schedule "A" hereto shall be levied and raised by special
rates sufficient therefor over and above all other rates at
the same time and in the same manner as other rates on all
the ratable property in the Town of Aurora.
THAT Schedule "B" hereto is hereby declared to be
and form part of this By-law.
READ a first, second and third time and finally
'T\ passed this J.q day of May, 196o.
-·'
( :
I I
l.,_l
\'c
' YEAR u -
1961
1962
1963
" 1964
1965
1966
1967
1968
1969
1970
~~r 1971
(\ 1972
1973
1974
1975
1976
1977
1978
19f79
1980
THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NUMBER 1446
SCHEDULE II A II
TOTAL
PRINCIPAL INTEREST ANNUAL PAYMENT
$ 710.00 $ 1,138.13 $ 1,848.13
500.00 1,093.75 1,593.75
500.00 1,062.50 1,562.50
500.00 1,031.25 1,531.25
500.00 1,000.00 1,500.00
500.00 968.75 1,468.75
500.00 937.50 1,437.50
500.00 906.25 1,406.25
1,000.00 875.00 1,875.00
1,000.00 812.50 1,812.50
1,000.00 750.00 1,750.00
1,000.00 687.50 1,687.50
1,000.00 625.00 1,625.00
1,000.00 562.50 1,562.50
1,000.00 500.00 1,500.00
1,000.00 437.50 1,437.50
1,500.00 375.00 1,875.00
1,500.00 281.25 1, 781.25
1,500.00 187.50 1,687.50
1,500.00 93.75 1,593.75
$18,210.00 $14,325.63 $32,535.63
}~·
j-v~~""--. -~·
Description of Work
1. Sanitary sewers:
Industry Street from Wellington
Street, 1350 feet southerly
Mary Street from Industry Street,
240 feet westerly
2. Watermains:
Industry Street from Wellington
Str~ 1350 feet southerly
'\ Mary Street from Industry Street,
240 feet westerly
·-. ..:
$
THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NUMBER 1446
SCHEDULE "B"
Corporation 1 s·
Total Cost Portion Owners• Portion
7,645.47 $ 2,051.39 $ 5,594.08
1,849.53 508.73 1,340.80
6,787.13 1,640.44 5,146.69
1,927.87 694.30 1,233.57
$18,210.00 $ 4,894.86 $13,315.14
r----··.
___ ).
Owners' Annual Rate
Annual per foot
Payment frontage
$ 507.70 .25
121.69 .25
467.09 .23
111.95 .23
$1,208.43