BYLAW - $68,500.00 for Extension of Water System - 19631118 - 153862/
THE CORPORATION OF THE TOWN OF AURORA
By-law Number 1538
A By-law to authorize the
borrowing of $68,500.00
upon debentures for the
alterations and extension
of the water supply system
of the Town of Aurora,
WHEREAS The Corporation of the Town of Aurora has
constructed extension and alterations to the existing water
supply system as follows:-
1. Construction of new pumphouse -including
installation of a new 2,500 IGPM deep well
pump, 300 HP electric motor, discharge
piping and telemetering control system.
2. Extension of existing pumphouse -including
installation of emergency 1,000 US GPM
centrifugal pump, 100 HP electric motor,
discharge piping and electrical controls.
3. Construction and equipping of a new trans-
former substation.
AND WHEREAS it is expedient to borrow for such
work $68,500.00 upon the credit of the Corporation, to
issue debentures therefor bearing interest at the rate
of 5 3/4% per annum and to provide for the discount and
the expense incidental to the preparations and the
negotiation and sale of such debentures;
AND WHEREAS the Corporation is authorized to
borrow such moneys pursuant to Section 379, Subsection l,
Paragraph 52 of The Municipal Act, R,S,O. 1960, Chapter 249;
AND WHEREAS the said works have been approved by
the Ontario Water Resources Commission;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF
THE TOWN OF AURORA ENACTS AS FOLLOWS:-
l. For the plrpose aforesaid, the Corporation
shall borrow upon the credit of the Corporation a sum
not exceeding $68,500.00 and shall issue debentures
therefor in sums of not less than $100.00 each all of
which shall be dated the lst day of December, 1963
and shall bear interest at the rate of 5 3/4% per
annum. The first payment of interest shall be made
on the lst day of June, 1964 to cover the period from
the lst day of December, 1963. Thereafter interest
shall be payable annually on the lst day of June
during the currency of the debentures. Each debenture
shall have coupons attached thereto for the payment of
such interest.
2. The debentures shall be payable in twenty
instalments of principal on the lst day of June in
each of the years 1964 to 1983, both inclusive, and
the respective amounts of principal and interest payable
in each of such years shall be as ~et forth in Schedule
"A" hereto which is declared to be part of this By-law.
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3. The debentures shall be payable as to both
principal and interest in lawful money of Canada at the
office of the Bank of Montreal in the Town of Aurora
or at the principal office of the .said Bank in either
of th~ Cities of Toront0 or Montreal, at holder's option.
4. The said debentures shall be sealed with the
seal of the Corporation and signed by the Head of the
Council, or by some other person authorized by by-law to
sign the same, and by the Treasurer. The said interest
coupons shall be signed by the Treasu'rer and his signature
thereon may be written, stamped, lithographed or engraved.
5. In each year 0f the currency of the debentures
there shall be levied and raised annually by a special rate
sufficient therefor, over and above all other rates, and at
the same time and in the same manner as other rates, on all
th<O rat?a_):)),e pr9perty in the Town of Aurora, the respective
amounts falling due for principal .and interest in that year
as set forth in said Schedule "A".
6, ·' 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 hypottecate such debentures for such
loan.
7. 1 The debentures may contain a clause providing for
the registration thereof authorized by any statute relating
to municipal debentures in force at the time of the issue
thereof.
READ a first and second time the 22nd day of
October, 1962 •. ~· If' day READ a third time and finally passed this
of November, 1963.
Clerk
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1964
1965
1966
1967
1968
1969
1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
SCHEDULE "A" TO BY LAW NUMBER 1538
TOWN OF AURORA
$68,500.
5~% Debentures 1 -20 years
PRINCIPAL INTEREST TOTAL
$ 2,000.00 $ 3,938.75 $ 5,938.75
2,000.00 3,823.75 5,823.75
2,000.00 3,708.75 5,708.75
2,500.00 3,593.75 6,093.75
2,500.00 3,450.00 5,950.00
2,500.00 3,306.25 5,806.25
3,ooo.oo 3,162.50 6,162.50
3,ooo.oo 2,990.00 5,990.00
3,ooo.oo 2,817.50 5,817.50
3,000.00 2,645.00 5,645.00
3,500.00 2,472.50 5,972.50
3,500.00 2,242.50 5,742.50
4,ooo.oo 2,070.00 6,070.00
4,ooo.oo 1,840.00 5,840.00
4,000.00 1,610.00 5,610.00
4,500.00 1,380.00 5,880.00
4,500.00 1,121.25 5,621.25
5,ooo.oo 862.50 5,862.50
5,000,00 575.00 5,575.00
5,ooo.oo 287.50 5,287.50
$ 68 1 200,00 $ 471897 !20 $ 1161397 ·20
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F.6M-62
ONTARIO
THE ONTARIO MUNICIPAL BOARD
IN 'fHE lViATThR m·:
Section 64 of 'rhe Ontario
Municipal Board Act, ( R.s.o.
l960,c. 274), and
Section 379 (l) 52 of The
l~~'iunicipal ~-;.ct, (H .• s.o.-
1960, c. 249),,,
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IN THE l~ATTER OF an application
by the Corporation ··f the Tovm of
!lurora for approval of extension
and alterations to the existing
water sup;ly system, and approval
of the borrowing for such purpose
of the sum of $70,000 1 being the
estimated cost thereof
B E F 0 R E. : I
)
) J,R. 'I'UFi.NBULL,
Vice-Chairman
-and -
V.S. MILBURN,
Member
) 'l'HUESDAY, the 1st day
)
) of November, 1962
)
)
)
)
UPON the application of the Corporation of the Town of
Aurora for approval of extension and alteraLions to the exist-
ing water supply system set out in Schedule "A" attached
hereto and for approval of the borrowing for such purpose of
the sum of $70,000, and upon reading the material filed,
THE BOAHD llRDBHS, under and in pursuance of the legis-
lation hereinbefore referred to, and of any and all other
powers vested in the Board, that the said application be and
the same is hereby granted, and that the Corporation may now
proceed with the said undertaking, and for such purpose may
pass a by-law authori·zing the said undertaking, and all other
requisite by-laws, including debenture by-laws, and may borrow
money to the extent sufficient to provide an amount not exceed-
ing $70,000 therefor, repayo.ble over a term not exceeding
twenty years, provided however that the amount to be deben-
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F .688-62
ONTAR\0
THE ONTARIO MUNICIPAL BOARD
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tured shall not exceed in any event the ne·t cost to the
Corporation after deducting any grant or contribution from
the Province of Ontario or from any other source in respect
of the said undertaking, and provided that any by-law
authorizing; the said undertaking is passed by a three-fourths
vote of all members of the council of the said Corporation.
SECRE'Nfc I
ENTERED
0. B. No. . .:Zf< .
rono ""N ~~ ; ;~8 .....
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