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CORPORATION OF THE COUNTY OF ESSEX <br /> <br />A By-law authorizing the borrowing of the sum of <br />$1,200~000.00 upon debentures to raise the sum <br />required by the Windsor Suburban District High <br />School Board for the purpose of the construction <br />and equipment of a new high school. <br /> <br /> WEEREAS a majority of the municipalities included in the <br />Windsor Suburban High School District have requested the Council of the <br />Corporation of the County of Essex to raise the sum required for the <br />construction and equipment of a new high school; <br /> <br /> AND WHEREAS it is deemed expedient to borrow for the purpose <br /> <br />of the construction and equipment of a new high school the s=a of <br />~1,200,000.00 upon the credit of the Corporation of the County of Essex, <br />and to issue debentures therefor bearing interest payable semi-annually <br />at the rates per annum shown in Schedule "A" attached to this by-law <br />and to provide for the discount and expenses incidental to the negotiation <br />and sale of such debentures; <br /> <br /> AND WHEREAS it is expedient tomake the principal of the said <br />debentures repayable in instalments during the period of twenty (20) years <br />next after the date of issue of such debentures. <br /> <br /> NOW TEEREFORE THE COUNCIL OF THE CORPORATION OF THE COUNTY OF <br />ESSEX ENACTS AS FOLLOWS:- <br /> <br />1. That for the purpose of constructing and equipping a new high <br /> <br />school in the Windsor Suburban High School District, the Corporation of the <br />County of Essex shall borrow upon the credit of the said Corporation a sum <br />not exceeding $1,200~000.00 and shall issue debentures therefor. <br /> <br />2. ~hat each debenture shall bear interest at the rate set forth in <br /> <br />Schedule "A" attached to this by-law payable semi-annually and shall have <br />coupons attached thereto for the payment of such interest. <br /> <br />3. That the debentures shall be dated the 2nd day of July~ A.D.~ <br /> <br />1960~ shall be issued at one time and shall be payable in twenty (20) <br />annual instalments on the 2nd day of July in each of the years 1961 to <br />1980 inclusive and interest shall be payable on the 2nd day of July, A.D.~ <br />1961 and thereafter interest shall be payable semi-annually on the 2nd <br /> <br /> <br />