701
COUNTY OF ELGIN
701
By-Law No
A BY-LAW TO AUTHORIZE THE ISSUE OF DEBENŒURES OF THE COR-
PORATION OF THE COUNTY OF ELGIN FOR THE PURPOSE OF RAISING
o TO PAY THE AMOUNT AWARDED FOR THE LONDON
THE SUM OF
AND PORT STANLEY TOLL ROAD
WHEREAS it is necessary for the Corporation of
the County of Elgin to issue Debentures for the sum of
$16,250, bearing interest at the rate of 4t per cent, per
annum, payable yearly in 5 annual instalments in the manner
hereinafter provided.
AND WHEREAS the amount of the whole rateable prop-
erty of the said County of Elgin, according to the last re-
vised and equalized Assessment Rolls of the various munic-
ipalities in the said County is the sum of $20,495,604.
debt
AND VffiEREAS the amount of existing Debenture
is the sum of $28,996~47, and no sum is in arrears for
either principal or interest in respect thereof.
AND WHEREAS it is desirable to issue the said
Debentures at one time and to make the principal of the
said debt repayable in yearly sums during the period of 5
years, being the currency of the said Debentures, said
yearly sums being of such respective amounts that the a.ggre-
gate amount payable in each year for principal and interest
in respect of the said debt shall be as nearly as possible
equalcto".th'$} amount payable in each of the other 4 years
of said period.
THEREFORE the Municipal Council of the Corpora.tion
of the County of Elgin enacts as follows
1. For the purpose of raising the said sum Deben-
tures of the said Corporation of the County of Elgin to the
amount of $16,250 as aforesaid shall be issued in sums.pf
not less than $100 each, after the final passing of this
By-Law, each of which Debentures shall be dated on the day
of the issue thereof, and shall be payable within 5 years
thereafter at the office of the Treasurer of the County' in
the City of St. Thomas.
2. Each of the said Debentures shall be signe,d by
the Warden of the said County, or by some other person authOf'-
iZéd by By-Law to sign the same and by the Treasurer thereof,
and the Clerk shall attach the Corporate Seal of the County
thereto
)
d
(cont
Page 2
701
By-Law No
3. The said Debentures shall bear interest at
the rate of 4i per cent per annum, payable yearly, at the
office of the said Treasurer on the 31st day of December in
each year during the currency thereof, the first payment
of interest to be made on the 31st day of December, 1907,
and the said Debentures shall have attached to them coupons
for the payment of the said interest, which coupons shall
be signed by the Warden and Treasurer of the said Count;\,.
4. During the currency of the said Debentures,
there shall be raised by special rate on all the rateable
property in the Township of Yarmouth the sum of $2,437.50,
and interest thereon, payable in the manner aforesaid, being
15 per cent of the said sum of $16,250, payable by the said
Corporation of the Township of Yarmouth, pursuant to the
provisions of Chapter 46 of 5, Edward VII, 1905, and du~ing
the said period there shall be raised by special rate on all
the rateable property in the Township of Southwold the sum
of $2,437.50 and interest thereon, payable in the manner
hereinbefQre provided, pursuant to the provisions of the
said last mentioned Act, and during the said period there
shall be raised by special rate upon all the rateable prop-
erty in the said County of Elgin, including the said Town~
ships of Yarmouth and Southwold, the sumuof $11,375 and
interest thereon payable in the manner hereinbefore provided
as shown in the following schedule.
Showing how the amount
to be raised by special rate is
payable each year,
Princi
1. $2,970
2. 3,104
3. 3,243
4. 3,389
5. ¡'542
,250
of $16,250 thereby required
apportioned, and the amount
SCHEDULE
Total
$3,701. 61
3,701. 61
3,701. 61
3,701.61
'3.701.61
18,508.05
Interest
$731. 25
597.58
457.88
311 . 94
15~.40
2;25 .05
pal
.36
.03
.73
.67
âl
.00
1907
1908
1909
1910
1911
$ 1
5. This By-Law shall take effect immediately upon
the final passing thereof.
this 29th
Thomas~
St
Dated at the Court House
day of December A.D. 1906.
W. F. Luton
Warden
McKay
Clerk
K. W.
County
(cont'd)
By-Law No 701 PagE¡ 3
I certify that the within Instrument is duly
entered and registered in the Registry Office for the County
of Elgin in Book C for By-Laws at 2:50 o'clock p.m. of the
17th day of January A.D. 1907.
J. A. Cóyne
Registrar
Number i03
Fee 2.00
Cents ~
Total $2.50
Read a first and second time on the 27th day of September,
1906.
Read a third time and finally passed on the 29th day of
December, 1906.
Certified êorrect K. W. McKay, County Clerk.
NOTE Attached to By-Law No. 701 is a certified typ~dcopy
of By-Law No. 701., not sealed.