BYLAW - Debenture for Public School Purposes - 19690217 - 182969" .
! ~ .•
THE CORPORATION OF THE TOWN OF AURORA
BY~LAH NO. 1829-69
A By-law to authorize the issue of a
Debenture in the principal amount
of $ 85,000.00 for public
school purposes.
'WHEREAS the school board named in Schedule "A" attached hereto app1ied
to the Council of The Corporation of the Town of Aurora
to provide the sum of $ 85 'ooo·. 00 by
the issue of Debentures of the Corporation for the public school purposes set out
in Schedule-"A" attached hereto and the Corporation approved of said application;
AND 'WHEREAS on the 1st day of January, 1969 the School Board named in
Schedule "A" attached hereto was dissolved and the public school projects set out
in Schedule "A" attached hereto are now ·obligations of the divisional board which
has jurisdiction in the school division, namely The York County
Board of Education.
AND 'WHEREAS pursuant to such application the Ontario Municipal Board on
or before December 31, 1968 issued an Order or Orders approving of the said under-
takings and the issue of Debentures therefor by this Municipality.
AND 'WHEREAS for the purposes aforesaid the Council now deems it expedient
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 $:85,000.00 · bearing
interest at the rate of 7 1/4% per annum payable semi-annually, which is the amount
of the debt intended to be created by this By-law.
NOH THEREFORE The Council of The Corporation of the Town
of Aurora enacts as follows:
1. THAT for the purposes aforesaid money shall be borrowed on the credit of
The Corporation of the Town of Aurora
by the issue of a Debenture of the Corporation in the principal
amount of $85,000.00 · bearing interest at the rate of 7 I/4 % per annum
payable semi-annually on the 1st day of February and 1st day of August
J in each year of the currency of the Debenture, upon the principal amount from time
to time remaining unpaid.
Div.-Al
'
' .
' .
-~ -
2. THAT the said Debenture shall be dated the 1st day of February 19 69'
and shall be payable in 20 annual instalments of principal on the 1st dsy of
February in the years 19 70 to 19 89 , inclusive, and the respective amounts.
~. of principal and interest payable in respect of such Debenture in the years 19 69
19 89 , inclusive, shall be as set forth in Schedule "B". attached hereto.
to
·~. 3. THAT the said payments of principal and interest shall be payable in lawful
money of Canada by cheques sent through the post to the registered address of the
registered owner of the Debenture and such cheques shall be payable at par in the City
of Toronto.
4. THAT the said Debenture shall be sealed with the Seal of the Corporation
.~CL and shall be signed by the Head of the Council or by some other person authorized by
~By-law to sign the same, and by the Treasurer.
5. THAT all sums required to pay off the instalments of principal of the
Debenture to be issued hereunder and to pay interest thereon as set out in the sixth
column of Schedule "B" attached hereto, shall be levied and raised in the years 19 69
to 19 89, inclusive, upon all the property rateable for public school purposes in
the school division under the jurisdiction of The York·
County Board of Education in accordance with
the provisions of The Secondary Schools and Boards of Education Act and the pertinent
provisions of The Public· schools Act made applicable thereby; and accordingly in
each of such years there shall be levied and raised by a special rate sufficient
therefor, over and above all other rates, upon all the property rateable for public
school purposes in this M~nicipality, at the same time and in the same manner as
other rates, this Municipality's share of the principal and interest falling due in
each such year ·and such share shall be determined in accordance with the provisions
of The Secondary Schools and Boards of Education Act and the pertinent provisions
of The Public Schools Act made applicable thereby.
6. THAT the said Debenture be sold to The Ontario Education Capital Aid
Corporation.
7. THAT the said Debenture shall contain a clause providing for the regis-
tration thereof pursuant to section 323 of The Municipal Act.
Div.-A2
) ,,
-3 -
8. THAT application shall be made to the Ontario Municipal Board for
approval of this By-law and for the certification of the Deb~nture to be issued
hereunder pursuant to sections 58 to 60 of The Ontario Municipal Board Act.
I 1> 9. TUAT Schedules "A" and "B" attached hereto, are hereby declared to be
and to form part of this By-law.
day of FEBRUARY , 19 69 •
~~-~~~:::__ __
READ A THIRD TIME AND FINALLY PASSED THIS . 17 DAY OF FEBRUARY, 1969
.At. . . .
(Seal)
Clerk . . .. . . . . .. .. . . . . . .
Div.-A3
~
0
* [ij
7'
"'
Name of school board
The Aurora Public School Board.
Purpose
The construction of school
accommodation and the supply of equipment.
THE CORPORAT] ------faE TOWN OF AURORA
BY-LAW NO. 1829-69
SCHEDULE "A"
Ontario Municipal Board
File No.
G 6746-68
Total Approved by
Ontario
Amount of Debentures
Municipal Board Previously issued
$85,000.00 Nil
To be issued
hereunder
$85,000.00
\
!
I
I
l
I
I
I
. ' '
r<.,-.
THE CORPORATION OF THE TOWN OF AURORA
BY-LAW NO.l829-69
. SCHEDULE "B"
1 2 3 4 5 6
P' "'\lENT DATE PAYMENTS ANNUAL AMOUNT
l dER DUE PRINCIPAL INTEREST TOTAL LEVIED HEREUNDER
K ' -··A:,-· August 1, 1969 $ $3,081.25 $3,081.25 $3,081.25
2 February 1, 1970 2,000.00 3,081.25 5,081.25
3 August 1, 1970 3,008.75 3,008.75 8,090.00
4 February 1, 1971 2,000.00 3,008.75 5,008.75
5 August 1, 1971 2,936.25 2,936.25 7,945.00
6 February 1, 1972 2,000.00 2,936.25 4,936.25
7 August 1, 1972 2,863.75 2,863.75 7,800.00
8 February 1, 1973 2,000.00 2,863.75 4,863.75
9 August 1, 1973 2, 791.25 2,791.25 7,655.00
10 February 1, 1974 3,000.00 2,791.25 5, 791.25
11 August 1, 1974 2,682.50 2,682.50 8,473.75
12 February 1, 1975 3,000.00 2,682.50 5,682.50
13 August 1, 1975 2,573.75 2,573.75 8,256.25
14 February 1, 1976 3,000.00 2,573.75 5,573.75
15 August 1, 1976 2,465.00 2,465.00 8,038.75
16 February 1, 1977 3,000.00 2,465.00 5,465.00
17 August 1, 1977 2,356.25 2,356.25 7,821.25
18 February 1, 1978 4,000.00 2,356.25 6,356.25
19 August 1, 1978 2,211.25 2,211.25 8,567.50
20 February 1, 1979 4,000.00 21jl211. 25 6,211.25
21 August 1, 1979 2,066.25 2,066.25 8,277.50
22 February 1, 1980 4,000.00 2,066.25 6,066.25
·?('?· August 1, 1980 1, 921.25 1, 921.25 7,987.50
l February 1, 1981 4,000.00 1,921.25 5' 921.25
August 1, 1981 1,776.25 1,776.25 7,697.50
2 February 1, 1982 5,000.00 1,776.25 6,776.25
2/ August 1, 1982 1,595.00 1,595.00 !·8,371.25
28 February 1, 1983 5,000.00 1,595.00 61j1595.QO
29 August 1, 1983 1,413.75 1,413.75 .,8,008. 75
30 February 1, 1984 5,000.00 1,413.75 6,413.75
31 August 1, 1984 1,232.50 1,232.50 7,646.25
32 February 1, 1985 6,000.00 1,232.50 7,232.50
33 August 1, 1985 1,015.00 1,015.00 8,247.50
34 February 1, 1986 6,000.00 1,015.00 7,015.00
35 August 1, 1986 797.50 797.50 7,812.50
36 February 1, 1987 7,000.00 797.50 7,797.50
37 August 1, 1987 543.75 543.75 8,341.25
38 February 1, 1988 7,000.00 543.75 7,543.75
39 August 1, 1988 290.00 290.00 7,833.75
40 February 1, 1989 . 8,000. 00 290.00 8,290.00 8,290.00
$85,000.00 $79,242.50 $164,242.50 $164,242.50