BYLAW - Debentures in the Amount of $523,410.00 - 19600524 - 144760. -:\ L~-
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THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NUMBER 1447
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A ~y-law to authorize the issue of Deben-
tures in the aggregate principal amount
of $523,410 for the purposes herein
mentioned •
WHEREAS the Council of The Corporation of the Town
of Aurora has heretofore passed the following Debenture By-laws
to authorize the issue of Debentures in the following respective
principal amounts dated the lst day of June, 1960, bearing interest
at the rate of 6-1/4% per annum and maturing in varying instalments
of principal on the lst day of June in the following respective
years, namely:
By-law
Number
1443
1444
1445
1446
Principal
Amount
$370,000.00
125,000.00
10,200.00
18,210.00
Years of Maturity
1961 to 1980 incl.
1961 to 1980 incl.
1961 to 1965 incl.
1961 to 1980 incl.
Purpose
Public Schools.
Hydro-Electric System
extensions and im-
provements.
Streets as local
improvements.
Sanitary sewers and ~
watermains as local ,,{rlfP •
improvements. /1'
AND WHEREAS no Debentures have been issued under the
authority of any of said By-laws;
AND WHEREAS instead of borrowing money by the issue
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and sale of Debentures under said By-laws Numbers 1443, 1444, -··
1445 and 1446 it is considered desirable to borrow money for the
purposes referred to in said By-laws under the authority of this
By-law by the issue and sale of one series of Debentures in the
aggregate principal amount of $523,410
rate of 6-1/~% per annum, which is the
to be created by this By-law;
bearing interest at the ·~
amount of the debt inten~IY
NOW THEREFORE, the Council of The Corporation of the
Town of Aurora enacts as follows:
1. THAT the sums authorized to be borrowed by said By-laws
Numbers ~443, 1444, 1445 and 1446 are hereby consolidated into
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one sum and for the purposes referred to in said By-laws money
shall be borrowed on the credit of The Corporation of the Town
of Aurora at large by the issue and sale of one series of Deben-
tures of the said Qorporation in the aggregate principal amount
of $523,410 bearing interest at the rate of 6-1/4%
having coupons attached thereto for the payment of
per annum and .~
such interest )Jf''.
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
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Montreal in the Town of Aurora or at the principal offi.ce of the,~#
said Bank in the City of Toront.o 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 ~P
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 rates imposed by By-laws Numbers 1443, 1444 and 1446, and in
each of the years 1961 to 1965, both inclusive, the rates imposed
by By-law Number 1445, shall be levied and collected as provided
in said By-laws respectively and shall be applied in payment of
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the respective sums of principal and interest payable in each ~
of such years as set forth in Schedule 11 A11 hereto. ~
by a
this
READ a first, second and third time and finally pass~
vote of three-fourths of all the members of the Council
c:l 7'-day of May, 1960.
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~~·--~ YEAR --
1961
1962
1963
1964
1965
1966
1967
1968
1969
1970
,., .. ·-"-:•\ • 1971 --\
! 1972
1973
1974
1975
1976
1977
1978
1979
1980
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THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NUMBER 1447
SCHEDULE "A"
TOTAL
PRINCIPAL INTEREST ANNUAL PAYMENT
$ 15,410.00 $ 32,713.13 $ 48,123.13
16,500.00 31,750.00 48,250.00
17,500.00 30,718.75 48,218.75
18,500.00 29,625.00 48,125.00
20,000.00 28,468.75 48,468.75
18,500.00 27,218.75 45,718.75
19,500.00 26,062.50 45,562.50
20,500.00 24,843.75 45,343.75
22,000.00 23,562.50 45,562.50
24,000.00 22,187.50 46,187.50
25,000.00 20,687.50 45,687.50
26,000.00 19,125.00 45,125.00
28,000.00 17,500.00 45,500.00
30,000.00 15,750.00 45,750.00
32,000.00 13,875.00 45,875.00
33,000.00 11,875.00 44,875.00
36,500.00 9,812.50 46,312.50
37,500.00 7,531.25 45,031.25
40,500.00 5,187.50 45,687.50
42,500.00 2,656.25 45,156.25
$523,410.00 $401,150.63 $924,560.63