BYLAW - Issuance of Debentures - 19870408 - 290387BY-LAW NUMBER 2903-87
OF THE MUNICIPAL CORPORATION OF THE TOWN OF AURORA
BEING A BY-LAW to Authorize the
Issuance of Debentures.
WHEREAS the Aurora Hydro-Electric Commission has requested the approva 1 of
debenture financing for capital projects in 1987;
AND WHEREAS the Council of the Town of Aurora is required to authorize the
debenture financing of the Aurora Hydro-Electric Commission:
NOW THEREFORE, THE COUNCIL OF THE CORPORATION OF THE TOWN OF AURORA ENACTS
AS FOLLOWS:
1. THAT those works set out in the Aurora Hydro-Electric Commission's
1987 Capital Expenditures Budget be and are hereby authorized and the
issuance of a debenture in the amount of $1,300,000.00 repayable over
a period not to exceed 15 years out of the utility rates of the Aurora
Hydro-Electric Commission be and is hereby authorized.
2. THAT The Regional Municipality of York be requested to
debentures in an amount not to exceed $1 ,300 ,000.00 on behalf
Corporation of the Town of Aurora repayable over a term not to
15 years.
issue
of The
exceed
3. THAT this by-1 aw sha 11 come into effect only upon the approva 1 of
Ontario Hydro and the Ontario Municipal Board.
4. THAT By-1 aw No. 2852-86 enacted on the 2nd day of June, 1986 be and
is hereby repealed.
READ A FIRST AND SECOND TIME THIS 8TH DAY OF APRIL, 1987.
READ A THIRD AND FINAL TIME AND FINALLY PASSED THIS 8TH DAY OF APRIL, 1987.
MAYOR