THE CORPOMATION OF TE CITY OF PORE COQUTTLAT

BY-LAW NA, LTE?

A By-law to euthorize che 1
$250,070.06, .

of a dab

UHEREAS che Council intends to fenue a debentura im che amount of
‘$250,000.00 to finance works undertaken pursuant to the borcewing authority of
tha following loan authorization bv-lav:

“Public Safety Building Construction and Loan Authorization Ry-lsv,

1972, Yo. 1049";

AND WUEREAS the amount of burrowing authorised by the above by-law,

che asount siready borroved under the authority theteof, the amount of auth

esization to Sorrow remaining th and the

being issued ucder tha
authority thereof by thie by-law {8 as follove:-

By-law Anount of Aénount
Suster Borroving Already
Authorize) forrowed

Borrowing Amoust
éuchority of
Reraining Issue

——

1049 $259,909.00 Nay $250,060.60 $250,000.00

$250,000.00

Totals $259,000.09 Mah $250,000.00

NQd THEREFORE the Municipe!l Counetl of The Corporation of the City of
Port Coquitias, in open meeting sesembled, enacts as follows:
1 A debenture in tha form of Schedule "A" attached hereto shall be issued

im the principal amount of $259,000.00 and ohall bear interest at the rate of

6.36215 per annus.

2. The debenture shall be dated che First day of July, 1972, and ehall

be payable ap therein apecified as to prineipzl by Iventy (20) consecutiva annual
Anstallnents commencing on the First day of July, 1973 end faterest thereon shall
be payable as therein specified annually on the First day of July in each and
every year during the currency thereof and che first installment of tateceat
ahall be due and payable on the First day of July, 1973.

: The debenture ehall be scaled with the seal of The Corperation of the
City of Pore Coquitian and the Mayor and the Treasurer shall sign the debenture,
& The debenture as to both principal sad ingereat shell be payable ta ‘

.
Revful money of Canata at any bran. of the Royal Bank of Caneda in Canada at

the option of the “older.

3 The dehenture shell be endorsed as follove:- ;

“This debenture, or eny interest therein, shall coc, after a
cartiticece of mmership hae been endorsed hereon by the
Treasurer of this eunictealtty be tronefarable, except by the
entry hy the treasurer or his deputy fa the debenture regietry
daok of the pusicipstity at Pert Coquitian, British Coiuabia.”
6 During the currency of the debenture iseued hereunder to secure
borrowings in respect of “Public Selety Sullding Construction asd Loss
Authorization By-law, 1971, ho. 1049" there ehst} be levied and raieed annuslly
by a tate avifictent therefor over and above sll other rates upon ail tand aad
improwemants eudject to taxation for generat euaicipal purposes fa the
sunicipalicy in the sase manner and at che saue tine a0 other rates an anouot
auffictent to ment the ancusl psysent of interest and the repayszent of principal.
7. This By-lew say be cited as tha “Public Safety Sulldiag Security
Yasuing By-taw, 1972, Ho. 1217". :
Read @ firat tina by the Municipal Council this Bisth dey of
Movember, 1972.
Reed a secood time by the Municipal Council this Sixth day ef
Rovesber, 1972.
Read a third tine by tha Municipal Council this Sisch day ef
Movember, 1972,
Recaived the approval of the Inepector of Nuntetpalieies this
day of » 1972.
Reconsidered, finally passed and adopted by the Musicipel Cousct! ef
The Corporation of the City of Port Caquitiaa this day ef
» 1972.

city Cet

<<

_X haraby cartify tha above to be a true copy of By-law No, 121? a0 read \

a third ties by the Huatetpal Council of The Corporscion ef the City of Port
Coguitian 6a the Sixth day of Kovenber, 1572.

Clerk of The Corporatica of the
City of Pore Coquitias.

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