BYLAW - Debenture for Public School Purposes - 19671219 - 176067f
THJ<; CORPORATION OF THE Town of Aurora
BY-LAW NO. 1760-67
A By-law to authorize the i<:~sue of a Debenture
in the principal amount of$ ·957,000.00
for public .school p'I!Xpoaee
WHEREP.S the school board named in Schedule "A" att.ached hereto has
.:."":Plied to the Council of The Corporation of the Tovm of Aurora ,,
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provide the sum of $ 957,000.00 by the issue of Debentures of the Corporation for
the public school purposes set out in Schedule 11A11 attached hereto and the Corporation
has approved of said application;
(VI
lJ expedient
AND WHEREAS for the purposes aforesaid the Council now deems it
to borrow money by the issue and sale to The Ontario Education Capital Aid
Corporation of a Debenture of this Municipality in the principal amount of $ 957,000.00
bearing interest at the rate of 6! % per annum payable semi-annual.ly, 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 Auror11 enacts as follows z
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1. THP.T for the purposes aforesaid money shall be borrowed on the credit of The
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1 Corporation of the Town of Aurora by the issue of a
Debenture of the Corporation in the principal _amount of $. 957 ,000;00. bearing interest
at the rate of 6~ % per annUIIt payable oomi=annualzy on the let day of January
and 1st day of July in each year of the curTency of the Debenture,. upon the
principal amount from time to time remaining unpaid,
2. THAT the said Debenture shall be dated the lst day of July • 19 68
and shall be peyable in 20 annual instalments of principal on the lst da;y of July
in the years 1969 to 19 88 ,. inclusive 9 and the respective amounts of principal and
, interest payable in respect of such Debenture in the years 19 69 to 19 88, inclusive, ->-, ~J \
JX~all be as set forth in Schedule "B" attached hereto.
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money of Canada by cheques sent through the post to the registered address of the
THI'.T the said payments of principal and interest shall be payable in lawful
registered owner of the Debentur!l and such cheque~ shall be payable at par in 'the Cit-y
of Torontoo
A-1
. ,_ . 0 b~. •• •• • ••o· 7 "' '•"•••H•••••• ••
4• THIIT the said Debenture shall be sealed with the Seal of the Corporation and
lllhall bo signed by the lkl&d ot the CounciJ. or by same other person authorized by ~-law
to eign the same, and by the Treasurer.
(}v-I 5. THP.T all SUllie requit."ed to pay off the installllents of principal of the Debanture
tmd. to pay interest thereon as set out in the eixth colllDin of Schedule "B" attached
--\to shall be levied and raised in the years 1969 to 1988 , inclwiiw, by a special.
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' ' 'r-a:te sufficient therefor, ovel" a.nd above all other rates, upon all the, nteable property
asseseed to public school supporters in the municipality at the same time a.nd in the same
mann~r as other rates.
~r 6 •. ''fl!Ar,:he said Debenture be sold to The Ontario Education Capital Aid Col"poration.
i 0<'. 7. THAT t}ie said Debenture shall :ontain a clause providing for the registra~ion
! thereof pursuant to section 323 of The Municipal Act. 'M· S, THAT application shall be made to the Ckltarlo M'mtlcipal Board for approval
of this·· B.Y~law and for the certification of the Debenture to be issued hereunder
pureuant to aectiol'ls 5S to J3 of The Ontario Municipal Board Act •
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,-1, 9. THAT Schedules "A" and "B" ,attached hereto, are hereby declared to be and. to
~OZ'Ill part. of this By-law.
ENACTED this /?~ay o£ ~ , 19 fP 1
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I, K.:\3~. RODGER, CLERK, OF THE CORPORATION OF THE TOWN oF' AURORA Do 'amiiBi CER'l'IFY
THAT, THE•Fl)RGOING IS A TRUE COPY OF.TOWN OF AURORA BY-LAW NUMBRl.l76o-.67 PASSED
BY 'rHE•Q:OUNqiL OF THE SAID CORPORATION ON DECEMBER, 19 ,1967 • ·.. . '
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Municipal, Clerk
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THE CORPORATION OF THE TO\VN OF AURORA
BY-LAW NO, 1760-67
SCHEDULE "B"
2 3 4
DATE PAYMENTS
DUE PRINCIPAL INTEREST
January 1 1 1969 $ 31,102.50
July 1, 1969 $ 25,000,00 31,102,50
January 1 1 1970 30,290,00
July 1 1 1970 26,000,00 30,290,00
January 1, 1971 29,445.00
July 1, 1971 28,000,00 29,445.00
January 1, 1972 28,535.00
July 1, 1972 30,000,00 28,535.00
January 1, 1973 27,560,00
July 1, 1973 32,000,00 27,560.00
January 1 1 1974 26,520.00
July 1, 1974 34,000.00 26,520,00
January 1 1 1975 25,415.00
July 1, 1975 36,000.00 25,415.00
January 1 1 1976 24,245.00
July 1 1 1976 38,000,00 24,245.00
January 1, 1977 23,010,00
July 1 1 1977 41,000.00 23,010.00
January 1 1 1978 21,677.50
July 1, 1978 43,000.00 21,677.50
January 1, 1979 20,280,00
July 1, 1979 46,000.00 20,280.00
January 1, 1980 18,785,00
July 1, 1980 49,000,00 18,785,00
January 1, 1981 17,192.50
July 1, 1981 52,000,00 17,192.50
January 1 1 1982 15,502.50
July 1, 1982 56,000,00 15,502.50
January 1, 1983 13,682.50
July 1 1 1983 59,000,00 13,682.50
January 1, 1984 11,765.00
July 1, 1984 63,000.00 11,765.00
January 1 1 1985 9,717.50
July 1 1 1985 68,000.00 9,717.50
January 1 1 1986 7,507.50
July 1, 1986 72,000,00 7,507.50
January 1, 1987 5,167.50
July 1, 1987 77,000.00 5,167.50
January 1, 1988 2,665.00
July 1, 1988 82,000.00 2,665.00
$ 957,000,00 $ 780,130,00
ABCC*DEF-4
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ANNUAL AMOUNT
TOTAL LEVIED HEREUJ\IDER --
$ 31,102.50
56,102.50 $ 87,205.00
30,290.00
56,290.00 86,580,00
29,445.00
57,445.00 86,890,00
28,535.00
58,535.00 87,070,00
27,560.00
59,560,00 87,120,00
26,520,00
60,520,00 87,040.00
25,415.00
61,415.00 86,830.00
24,245.00
62,245.00 86,490,00
23,010.00
64,010,00 87,020,00
21,677.50
64,677.50 86,355~00
20,280,00
66,280,00 86,560.00
18,785,00
67,785.00 86,570.00
17,192.50
69,192.50 86,385.00
15,502.50
71,502.50 87,005,00
13,682.50
72,682.50 86,365.00
11,765.00
74,765.00 86,530.00
9,717.50
77,717.50 87,435.00
7,507.50 .
79,507.50 87,015.00
5,167.50
82,167.50 87,335.00
2,665.00
84,665.00 87,330.00
$1,737,130.00 $ 1, 737,130.00
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Name of school board
The Aurora Public School Board
Purpose
The construction of school accommodation and the
supply of equipment
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THE CORPORATION OF THE Town of Aurora
BY-LAW NO. 1760-67
SCHEDULE 11A"
Ontario Municipal Board
File No.
G,3525-67
Total Approved by
Ontario
Municipal Board
$957,039.50
Amount of Debentures
Previously issued
nil
To be issued
hereunder
$957,000.00
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ONTARIO
THE ONTARIO MUNICIPAL BOARD
-and -
IN THE MATTER OF an application
by The Corporation of the Town
of Aurora for approval of By-
law 1760-67, passed on the 19th
day of December, 1967, providing
for the issue of debentures in
the amount of $957,000.00 for
public school purposes
B E F 0 R E : )
)
) A. H. ARHELL, Q.C.,
Vice-Chairman
-and -
W. GREENWOOD,
l>iember
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FRIDAY, the 9th day
of FEBRUARY, 1968
G )525-67
THE BOARD ORDERS, '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 By-law 1760-67
be and the same is hereby approved.
SECRETAitY
ENTERED
0. B. No. . . t.J.J.-?. ........... .
Folio No. . . .... ... ;3..?. .......... .
FEB 1 21968