BYLAW - Borrowing By law - 19691020 - 186169,c c/ .
BY-LAW NUMBER 1861-69
of
THE CORPORATION OF THE TOWN OF AURORA
A BY-LAW TO AUTHORIZE THE BORROWING OF
TOWARDS PART OF THE COST OF CONVERSION
SLUDGE SEWAGE TREATMENT PLANT
f ./ "J-?.
/.1.\ ,., ' ,/.:: 'u ·"'] 0 ~) ~
$'1.55,000 UPON DEBENTURES
OF THE EXISTING ACTIVATED.
WHEREAS by By-law 1757-67, The Corporation of the Town of
Aurora authorized the construction of .the conversion of the existing
1.0 MGD Conventional Activated Sludge Sewage Treatment Plant to a
1.85 MGD Contact Stabilization Activated Sludge Plant;
AND WHEREAS the Ontario Municipal Board, under Order
G.3529~67 dated October 26, 1967, has apprqved the said works under
The Ontario Municipal Board Act, R. S. 0. 1960, C.274, Section 64,
and the issue of debentures to the amount of $359,840;
AND WHEREAS to'pay for part of the cost of the aforesaid
works, the Council of the Corporation has issued debentures in the
amount of $189,678.55 to Central Housing and Mortgage Corporation;
AND WHEREAS to pay for a further ·part of the cost of the.
said works, it is now desirable to issue debentures in the amount
of $155, o·oo on the terms hereinafter set forth;
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE TOWN
OF AURORA ENACTS AS FOLLOWS:
For the purposes aforesaid, there shall be borrowed upon
the credit of the Corporation at large the sum of '$155,000 in
lawful money of Canada and the Corporation shall issue debentures
therefor in denominations of not less than $100 each.
11/V' 2. The debentures shall be·dated the 15th day of November,
r
1969, shall be issued at one time and shall be payable in ten
annual instalments 6f principal on the 15th day of November in each
of the years 1970 to 1979, both inclusive, and shall bear interest
at the rate of Nine per cent ( 9%) per annum payable yearly. ·The
debentures shall have coupons attached for the payment of such
interest on November 15th in each year. The respective amounts of
principal and interest payable in each of such years shall be as
set forth in'Schedule "A" hereto annexed and forming part of this
by-law.
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/j,/_$3. The debentures shaLL be paya.ble as to both p;incipa~ and
interest in·law:ful money of Canada at the principal 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
( ··. the holder's option.
The debentures shall be sealed with the seal of the
Corporation and signed by the Mayor of the Corporation or by some
other person authorized by by-law to sign them and by the Treasurer.
The interest coupons shall be signed by the Treasurer and his
signature to them may be written or engraved, lithographed, printed
or otherwise mechanically reproduced. The signature of the Mayor
on the debentures may be written or engraved, lithographed, printed
or otherwise mechanically reproduced.
Commencing .in the year 1970 and thereafter in each year
during the currency of the said debentures, there shall be raised
by a special rate sufficient therefor over and above all other rates
on all the rateable property in the Town of Aurora the amount of the
. instalment of principal and interest payable in that year as set
forth in Schedule ;'A" here-unto annexed.
6. The debentures may contain any ;;orovisionfor their
registration authorized by law.
READ A FIRST, SECOND, AND THIRD time and finally PASSED
·this ;(()'-/( day of October, 1969.
'
·~
1970
0 1971
1972
1973
'
1974
' ""'"''-'-" 1975
j. 1976
'"-·~"~,/ 1977
1978
. 1979
0
$155,000
IO'iiN OF AURORA
(Provinco oJ Ontcrio)
9% Dcboj)tures
Io macurc 1 -10 years·
SCHEDUL2 II All
' /
PRINCIPAL INTEREST
$ 10,000 $ l3,9q0
n,ooo 13,050
12,000 12,060
13,000 10,980
15,000 9,810
16,0)0 8,460
17,000 7,020
19,000 5,490
20,000 3,780
22,000 1.980
$155,000 $86,5'30
i'
TOTAL
' $23,950
24~050
24,060
23$980
24,810
24,460
24,020
. 24,490
23,780
:23;980
$241,580