1360-60-Authorizing borrowing money Required for the Windsor Suburban District High School

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XAY . BPMAL 13ranow, IM 0 THS ;0Sp0ltgTION OF THE SOyNri OF RUWN Debenture By -Low No. 1360 A By -law authorizing the borrerwh* of 00 rim of ;1,200,000.00 upow debentures is raise the sum nquked by the Windsor Suburban District High School Board for the purpose of the construction and equipmwnt of a Mw high school WHEREAS a majority of the municipalities included in the Wind sor Suburban High School District have requested the Coondl d the Corporation of the County of Essex to raise the nom d it the construction and aqutpmeut ot a now high ssiwo1; AND WHEREAS it is deemed expedient to bowsaw for file rw . pose of the construction and equipment of a new high school the sus. Of $1,200,000.09 upon the credit of the Corporation od the Counq d Essex, and to issue debentures therefore bearing interest payable semi. `=ually at the rates per annum shown in Schedule "A" attached to this by-law and to provide for the discount and expenses incidam* to the negotiation and sale of such debentures; AND WHEREAS it is expedient to make the principal of tilt said debentures repayable in instalments during the period gi "mIq (20) years next after the date of issue of such debentures NOW THEREFORE THE COUNCIL. OF THIS C+ORMRATM dr TBE COUNTY OF ESSEX ENACTS AS ]FOLLOW & -- 1. That for the purpose ad construction and equipping a mw high school in the WigdKw Suburban High Schad Ilaatrist, the Cat` poration of the County of Essex shall borrow upon the omilit of tha said Corporation a sum not exceeding $1,200,000.00 and shall iaw debentures therefore. 2. That each debenture shall bear intated at the rate set lr% in Schedule "A" attached to this by4asr payable send- ummaily and WWI have coupons attached thereto for ib a , pasmsat Of each itstsre& & That the debentures shall be dated tore And do of fir, AM6 IM shall be issued at one time mW *all be payable it twenty M