BYLAW - Issuance of Debentures - 19880518 - 299088BY-LAW NUMBER 2990-88
OF THE 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
approval of debenture financing for capital projects in 1988;
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-Commission's 1988
Capital Expenditures Budget be and are hereby authorized and the
issuance of a debenture in the amount of $500,000.00 repayable
over a period not to exceed 15 years out of the utility rates of
the Aurora Hydro-Commission be and is hereby authorized.
2. THAT The Regional Municipality of York be requested to issue
debentures in an amount not to exceed $500,000.00 on behalf of
The Corporation of the Town of Aurora repayable over a term not
to exceed 15 years.
3. THAT this by-1 aw sha 11 come into effect only upon the approval
of Ontario Hydro and the Ontario Municipal Board.
READ A FIRST AND SECOND TIME THIS 18TH. DAY OF MAY, 1988.
READ A THIRD AND FINAL TIME AND FINALLY PASSED THIS 18TH. DAY OF MAY, 1988.
MAYOR