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1526-64 $438KforEssexHighSchool
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1526-64 $438KforEssexHighSchool
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C - Council, Boards and By-laws
C - Council, Boards and By-laws - Date
4/15/1964
C - Council, Boards and By-laws - Department
Finance
C - Council, Boards and By-laws - Description
A bylaw authorizing the borrowing of the sum of $438,300.00 upon debentures to raise the sum required by the north essex district high school board for the purpose of the construction and equipment of the new addition to the north essex high school.
C - Council, Boards and By-laws - Bylaw No
1526-64
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By-law
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D~ B¥-LA%I ,N~BE~ 1526 <br />OF THE CORPORATION OF T~E COUNTY OF ESSEX <br /> <br />A BY*LAW A~T~0K~NG THE BORROWING OF THE S~ OF $~38, 300. 00 <br />~PON DEBE~Tt~ES TO RAISE Tt~ S~M REQUIRED BY THE ~)RTH ~SEX <br />DIStrICT HIGH SCHOOL BOARD FOR THE P~OSE OF T~ CO~TRUCTION <br />AND ~U~ OF THE NE~ ADDITION TO THE NORTH ESSEX DISTRICT <br /> <br /> WH~qEAS a majority of the municipalities included in <br />the North Essex ~igh School District have requested the Council of The <br />CorI~ration of the County of Essex to raise the sum required for the <br />construction and equipment of the new addition to the North Essex District <br />Nigh School; <br /> <br /> AND ~EKEA~ it is deemed expedient to borrow for the <br />purpose of the construction ~nd equipment of the new addition ~to the North <br />Essex District Nigh School the sum of $~38, 300. 00 u~on the credit of The <br />C~rporation of the County of Essex, and to issue debentures therefor <br />bearing interest payable annually at the rate of five and three-quarters <br />per centum (~-3/4~) per annum as shown in Schedule "A' attached to this <br />by-law amd to provide for the discount and expenses incidental to the <br />negotiation and sale of such debentures; <br /> <br /> AND ~ it is expedient to make the principal of the <br />said debentures repayable in instalments during the period of twenty (20) <br />years next after the date of issue of such debentures. <br /> <br /> NOW THerEFORE THE CO.IL OF THE CORPORATION OF THE <br />COUNTY OF E~SEX ENAC~ AS FOL~0~; <br /> <br />1. That for the purpose of constructing and equipping the <br /> <br />new addition to the North Essex District Nigh School by the North Essex <br />Nigh School District Board The Corporation of the County of Essex shall <br />borrew ut~n the credit of the said Corporation a sum not exeeeding <br />$~38,300.00 and shall issue debentures therefor. <br /> <br />2. That each debenture shall bear interest at the rate set <br /> <br />forth in Schedule 'A" attached to this by-law payable annually and shall <br />have cou~ns attached thereto for the payment of such interest. <br /> <br />3- That the debentures shall be dated the 1st ~ay of May, <br /> <br />A. D. 1964, shall be issued at one time and shall be payable in twenty (20) <br />annual instalments on the 1st day of May in each of the years 1965 to 198~, <br />inclusive, and interest shall be payable on the 1st day of May, A. D. 1965, <br /> <br /> <br />
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