LUUNGI

THE CORPORATION OF THE CITY OF PorT coguiriam JUL 12 1976

BY-LAW NO. 1454

A By-law to authorize the issuance of a debenture in the
amount of $1,260,151.59.

WHEREAS the Council intends to issue a debenture in the amount
of $1, 260,151.59 to finance works undertaken pursuant to the borrowing
authority of By~law No. 1251 cited as the "Recreational Facilities
Construction and Loan Authorization By-law, 1973, No. 1251";

AND WHEREAS the amount of borrowing authorized by the above-
noted By~law, the amount. already borrowed under the authority thereof,
the amount of authorization to borrow remaining thereunder and the’

amount: being issued under the authority thereof by this By-law is as

follows:
By~law Amount of Amount Borrowing Amount ° ,
Number Borrowing ' Already - Authority of .
Authorized Borrowed Remaining Issue ‘ ‘
j § oo. § $ $ Jo:
1253, 1,910,000.00 nil 1,910,000.00 1,260,151.59 :
Totals 1,910,000.00 nil 1,910,000.00 1,260,151,59 i

NOW THEREFORE the Municipal Council of The Corporation of the City

of Port Coquitlam, in open meeting assembled, enacts as follows:
1. A debenture in the form of Schedule "A" attached hereto shall be
issued in the principal amount of ONE MILLION TWO HUNDRED SIXTY THOUSAND ONE ,
HUNDRED FIFTY-ONE DOLLARS FIFTY-NINE CENTS ($1,260,151.59) and shall bear
interest at the rate of 8.8182% per annum. "
2. The debenture shall be dated the First day of April, 1976, and shall :
be payable as therein specified as to principal by twenty consecutive annual
instalments commencing on the First day of April, 1977, and interest thereon , .
shall be payable as therein specified annually on the First day of April in
each and every year during the currency thereof and the first instalment of

interest shall be due and payable on the First day of April, 1977.

3. The debenture shall be sealed with the seal of The Corporation of
the City of Port Coquitlam and the Mayor and the Treasurer shall sign the
debenture.

4. The debenture as to both principal and interest shall be payable in
lawful money of Canada at any branch of the Royal Bank of Canada in Canada at

the option of the holder.