HomeMy WebLinkAbout82-190
HEPEAlED BV
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BV.J..A.W...............
THE CORPORATION OF THE
TOWN OF NEWCASTLE
BY-LAW No. 82-190
Being a By-Law to authorize the borrowing of $150,000.00
for the Bowmanvi11e Business Improvement Area Main Street
Revitalization Program.
WHEREAS, Section 123 of the Ontario Municipal Act R.S.O. 1980, provides that
by-laws may be passed to allow for borrowings on behalf any board or body for
which the corporation is required by law to provide:-
WHEREAS, the Bowmanvi11e Business Improvement Area has received conditional approval
of the application to the Ontario Ministry of Municipal Affairs and Housing,
Community Renewal Branch for a Mai n Street Revi tali zati6n Program:-
NOW THEREFORE, the Council of the Corporation of the Town of Newcastle, pursuant to
Section 123' of the Ontario Municipal Act R.S.O. 1980, ENACTS AS FOLLOWS:-
1. That the Bowmanvi11e Business Improvement Area Main Street
Revitalization Program proceed as set out in the application
to the Ministry of Municipal Affairs and Housing, Community
Renewal Branch; and
2. That the estimated costs of the development be financed through
a $150,000.00 loan from the Province of Ontario; and
3. That said loan and interest of $15,000 be repaid in equal installments
over a 10 year period commencing in 1984; and
4. That the funds to repay the loan and interest, be raised through the
annual Bowmanvi11e Business Improvement Area tax levy on its members;
and
5. This by-law shall come into effect on the date hereof, subject to the
provisions of the Ontario Municipal Board Act, Section 64(1) R.S.O.
1980.
BY-LAW READ a first and second time this 20th day of December 1982.
BY-LAW READ a third and final time this 20th day of December 1982.
G.B. RiCkar~~L-r""
Mayor
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D.W. Oakes
Town Clerk
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