BYLAW - To consolidate the Sums to be Borrowed - 19631118 - 158463i J'"'\
.j (
/ -
' '
l
THE CORPORATION OF THE TOWN OF AURORA
Consolidating By-law Number 1584
A By-law to consolidate the sums
authorized to be borrowed by cer-
tain By-laws into one sum of
$168,259,65.
WHEREAS the Council of The Corporation of the
Town of Aurora has passed the By-laws referred to in
Schedule "A" hereto providing for borrowing money by
the issue of debentures to pay for the works referred to
in said By-laws;
AND WHEREAS the aggregate of the sums authorized
by said By-laws to be borrowed is the sum of $168,259.65
and it is desirable to consolidate the said sums into one
sum of $168,259.65 and to issue debentures therefor in one
series;
AND WHEREAS each of the said By-laws provides
that the debentures authorized thereby shall bear interest
at the rate of 5 3/4% per annum and that the principal of
the debt shall be repayable in yearly sums during the
period provided in such By-laws and as shown in Schedule
"A" hereto;
AND WHEREAS the Ontario Municipal Board has
approved the purposes of the respective borrowings mentioned
in said By-laws referred to in Schedule ''A'' hereto and the
passing of all requisite By-laws including debenture By-laws;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF
THE TOWN OF AURORA ENACTS AS FOLLOWS:-
1. The sums authorized by the said By-laws referred
to in Schedule ''A'' hereto to be borrowed are hereby
consolidated into one sum of $168,259.65.
2. For the purpose aforesaid, the Corporation
shall borrow upon the credit of the Corporation a sum
not exceeding $168,259.65 and shall issue debentures
therefor in sums of not less than $100.00 each all of
which shall be dated the 1st day of December, 1963
and shall be~ interest at the rate of 5 3/4% per
annum. The first payment of interest shall be made
on the 1st day of June, ·1964 to cover the period from
the 1st day of December, 1963. Thereafter interest
shall be payable annually on the 1st day of June
during the currency of the debentures. Each debenture
shall have coupons attached thereto for the payment of
such interest .•
3. The debentures shall be payable in twenty instal-
ments of principal on the 1st day of June in each of the ~Jr'\:
years 1964 to 1983, both inclusive, and the respective ,\1\
amounts of principal and interest payable in each of such
years shall be as set forth in Schedule "l'l" hereto which
is declared to be part of this by-law.
"'--.~
I
-2 -
4, The debentures shall be payable as to both ~
principal and interest in lawful money of Canada at the ~.111·
office of the Bank of Montreal in the Town of Aurora, or at ·
the principal office of the said Bank in either of the Cities
of Toronto or Montreal, at holder's option.
5, 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 Treasurer and his signature
thereon may be written, stamped, lithographed or engraved.
6. The rates imposed by said By-laws referred to
in Schedule "A" hereto shall be levied, collected and
applied for the purpose of providing the payment of the
debentures under this By-law and the interest thereon.
~·~·
~.in
~.111 7. 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 hypothecate such debentures for such
loan.
8. 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, second and third time and finally
passed this I g-a day of November, 1963.
~--
Mayor -··x /)
r~
~/ 1 II _d_44;J;;;;)_fbt:~
Clerk -~'--"-
(~·-
'• ' '
' '
J .
!
'""
SCHEDULE "B" TO BY LAW NUMBER 1584
TOWN OF AURORA
$168 1229.62
5~<?bentures
-------··--· .. :~::.o,.
1 -20 years
'iff Ylili PRINCIPAL INTEREST ?; ~
I
1964 6, 759.65 $ 9,674.94 $ 16,434.59
1965 7,500.00 9,286.25 16,786.25
1966 7,500.00 8,855.00 16,355.00
1967 8,ooo.oo 8,423.75 16,423.75
1968 8,500.00 7,963.75 16,463.75
1969 9,500.00 7,475.00 16,975.00
1970 1o,ooo.oo 6,928.75 16,928.75
1971 1o,ooo.oo 6,353.75 16,353.75
1972 10,500.00 5,778.75 16,278.75
1973 10,500.00 5,175.00 15,675.00
1974 9,000.00 4,571.25 13,571.25
1975 9,500.00 4,025.00 13,525.00
1976 1o,ooo.oo 3,507.50 13,507.50
1977 10,500.00 2,932.50 13,432.50
1978 u,ooo.oo 2,328.75 13,328.75
1979 5,500.00 1,696.25 7,196.25
1980 5,500.00 1,380.00 6,880.00
1981 6,ooo.oo 1,063.75 7,063.75
1982 6,ooo.oo 718.75 6, 718.75
1983 6,500.00 373.75 6,873.75
$ 168 1 259.65 $ 98 1 212.44 $ 266,772.09
'l
' ' 1,
I ii
·n
I l
:·:
THE CORPORATION OF THE TOWN OF AURORA
Consolidating By-law Number 1584
S C H E D U L E ''A''
No~ of By-law Date of Passage Amount Maturity
1. 1525 November fd I , 1963 $ 62,250.00 Fifteen Years
2. 1538 November I,{~-1963 68,500.00 Twenty Years
3. 1582 November ;f~-1963 17,423.94 Ten Years
4. 1583 November ;fd',-1963 20,085.71 Twenty Years
5. 1584 November I r-tt. 1963 $168,259.65 Twenty Years
~
'<"\
\ ~---··~ '(_
··'~··.
,)