HomeMy WebLinkAbout2007-178
THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
BY-LAW NO. 2007-178
Being a By-law imposing special annual drainage rates upon land in respect of
which money is borrowed under the Tile Drainage Act, R.S.O. 1990, cT8
WHEREAS owners of land in the municipality have applied to the Council under the Tile
Drainage Act, R.S.O. 1990, cT8 for a loan for the purpose of constructing sub-surface drainage
works on such land;
AND WHEREAS the Council of the Corporation of the Municipality of Clarington has upon their
application, lent the owners of Part Lot 6, Concession 4, former Township of Clarke the total
sum of $6,400 to be repaid with interest by means of rates hereinafter imposed;
NOW THEREFORE the Council of The Corporation of the Municipality of Clarington hereby
enacts as follows:
1. THAT annual rates as set out in Schedule "A" attached hereto are hereby imposed upon
such land for a period of ten (10) years, such rates to be levied and collected in the
same manner as taxes.
By-Law read a first time this 30th day of July 2007.
By-Law read a second time this 30th day of July 2007.
By-Law read a third time and finally passed this 30th day of July 2007.
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, ar' ,Muni"QipaJ Clerk
Schedule A to By-law 2007-178
Name and Description of Proposed Sum To Annual Rate
Address of Owner Land Drained Date of Loan Be Loaned To Be Imposed
David Hannah Part Lot 6 October 1, 2007 $6,400 $869.55
4639 Concession Road 5 Concession 4
Newtonville ON LOA 1 JO Former Township of Clarke
Schedule "B" To By-law 2007-178
ONTARIO TILE LOAN PROGRAM
CALCULATION OF LOAN AMOUNT, ANNUAL REPAYMENT AND AMORTIZATION
1 0 YEAR TERM LOAN AT 6% INTEREST
DATA ENTRY: Landowner Information (Oationall
Landowner Name: IDavid Hannah I
Landowner Home Address: 14639 Concession Road 5 I
Prooerlv Drained: a) LoVCon: Lot 6, Concession 4
b) Municipality: rinaton
c) Roll Number: 1817-030-080-08200
Municioalitv ItJy-law LUUf-l f~
Desianated
riformation: I I
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. Information Obtained From InsDection & Comnletion Certificate:
. Total Material Costs: I $8,328.001'
,OAr,:. Total Installation Costs: I 1 C
I Total Sundry Costs: I $282.571 CALCU
I Inspection Fee: I I
$8,610,57
$6,400,00
ALCULATED Total Farmer Cost
LATED Maximum Available Loan
Pre,>
iThe maximum available loan is the lesser of $50,000 or 75% of the total farmer cost If the loan applicant
'wants a smaller loan than the maximum allowable enter it below, in multiples of $100, Otherwise leave $0,
~:q~sired Loan Amount (eg. 12600):11 $6,400.00~
rife Loan Date (YYYY -MM-DD):II 2007-0ct-0111 Note: All loans must be dated for the first of the month
CALCULATED Annual Repayment: ~$869.55:
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I AMORTIZATION SCHEDULE 1
I Repayment
Payment Date Installment Interest Principal Loan
I Number (mo./yr,) Amount Cost Repayment Balance
I . 2007-0ct-01 $6,400,00
OP.emng Balance
ell'" 1 2008-0ct-01 $86955 $384.00 $485.55 $5,914.45
2 2009-0ct-01 $86955 $354.87 $514.68 $5,399,77
r 3 2010-0ct-01 $869.55 $323.99 $545.56 $4,854.21
4 2011-0ct-01 $869.55 $291.25 $578.30 $4,275.91
5 2012-0ct-01 $869.55 $256.55 $613.00 $3,662.91
6 2013-0ct-01 $869.55 $219.77 $649.78 $3,013.13
.~ 7 2014-0ct-01 $869.55 $180.79 $688.76 $2,324.37
8 2015-0ct-01 $869.55 $139.46 $730.09 $1,594.28
r- 9 2016-0ct-01 $869.55 $95.66 $773,89 $820.39
10 2017-0ct-01 $869.55 $49.16 $820.39 $0.00
I Total Principal Repaid $6,400.00
IhiiP:IIWWW'9OV'.2!1'c.210,~~F(englis.h~S.eltilll!!l.~.XI~_ Total Interest Paid $2,295.50
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