BYLAW - Authorize Borrowing of $1600 - 19391212 - 83439of tile Ltd e rt ion o the
aro
e upon d,eent� e f per newt J mmpr o v e men t s
y.
to the Aurora High School*
WHEREIIAS it Is expedient borrow.) for permanent
the AuroraHigh. School, such r are --nts consisti
alterations and the installation . e e equipment to allow
for the teaching trainingp and household se .e et) a sum not
to exceed 406ze-c-II.- Dollars
.. t o credit of the Corporation,) to issue, debentures t e elor
bearing interest t the rate o ,�per cent -am mr
annum
payable annually and to provide for the discount md the expenses
incidental to n,,:.:.4 got ilatin and sale of such debenturest
ADD
REA i x- d.yent to make the principal
the said = meal ins tL--.,.l m.nts d. arl, .g t
y-Qar s n e t to the -it �, ebe�t e , of
amountsrespectively that, with the interest in resV,c"t_I:"'ofthe
debtq the aggregate amount payable for print J al aid 'interest each
year b e, nearlypossible,, t 4 same t t tie tattl
rf tory proviso that each tea.. nt of prJncipal may be for an even
0100*069 t o# , 9 or ra ti e thareofq and,, that tit
t .d . _/ thing herein containedg the nn. instalments of principal
and
to e t �-1 e o- t is ie t y to a t t e' o,
A M
ND S EREAS the amount of the whole rateable w
t np t,, according to the lastrevisedassessment roll thereows
e .e J. ..�. e" iv e H e . � . Je t ��- sever T cu � , � � . e .
s.the amount
..oJ#a4rqgn r n�^..i be' debt
AN j3I`
of the local
nt
Corporation, exclusive..Lr - H `� a debts secured
by
sped.- rates orassessments, is e Hu r d and Sixty -fide
Thousand., Seven Hundred any. i - i i Dollars 5,5. 75)
and o r dire principal or interest of such debts "in arrear;
D HE. = o .Laf
T ��
(1931rhe Ontario Tihan*c'pal Board has L)pro ve she parpose
of the said borraiving and the passing of all requisite by-laws,
including debenture by-law-s;
THERIEFOIRE the Council of the Municipal Corporation
f the To,,vn of Aurora enacts -as of .e7uti:
For the plarpose aforesaid the C.-orporation shall
borrow -a-oon the credit of the 0.1orporation a sum net e c ee in
-Dol-lars
aaad shalli� e e. e therefor i sums o o e than
$50*00 eacn* Each debentlare shall bear interest at the rate
1 r
e�.�= Z r e� P �) per annum payable an=aally and s
have cou- viment of such i*nterest,,
i the debentures shall bear the sam date,, shall
e issued one arne and within tao years after the date on idlich
this -3 is passed, may bear any date within suchyears
and U be made parable in annual instalments during the period
i
of' oz years next after the date of issue thereof the
respective - unis o- print -and interest payable in eachof
a ii years sball be the amounts.e i s ed in Schedule "A
hereto annexed*
The e e t-"e s shall e� yable o '
` prim
i 3 and interest in lawfale of Canada e pay
able at sachplace or placesin Canada as shall be designated
thereon.
ONTARIOo,
x = 101 PA I
F , tt = ( m 7oo � E 'E�
V
® she s a d b e n s shall be sealed Tivith
the Seal ofP the Ciorporation and si�med by the he - of the Council.,
or by sar.B otber person aathorize -law to sign the same, and
by the Treasurer# The sago d interest couf on shall be 3., e . by the
Treasurer and, his signature thereon may be written., stamped, 111th-
ograpbed or engraved*
each year in whichinstalm.nt of principal of the said e .
interest becoze due, the Corporation shall levy and raise the specum
fic s-tam shawnfor the respective year Barth colunm of the
said e e- .le„ 'S"uch sutiq shall be levied and raised by a special
ate u -I� ie sent therefor, over and be ve all other ra �e , upon all
she rateable property in the municipaliltyo
0 The sicD11d debentu'rescontain a clause -
v Minrr for the reg--istration thereof prarsuantto section 336 of The
Muni e*pal c. o
7
.. . sale of the " ce�ben e , he * Pen
head of theQtx ne and the Treasurer may raise for the e e
ai-C"oresaid by way of loan on such debentures any yam or € m of rxney
not exceeding l the sum hereby e d to be borrowed
hypothecate slack debentures for {,ae to
Read a f it st and second t thi s day e
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extentProoeed tax`
by
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on
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rovided..
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be
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Board. On
of the
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