HomeMy WebLinkAbout85-17
THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW NUMBER 85-17
being a By-law to authorize the entering into of an amending
Agreement with the Corporation of the Town of Newcastle and the
Province of Ontario in respect of loan repayment schedule for
Bowmanville and Newcastle Village Mainstreet Revitalization
Programs.
The Council of the Corporation of the Town of Newcastle hereby enacts
as follows:
1. THAT the Mayor and Clerk are hereby authorized to execute on
behalf of the Corporation of the Town of Newcastle, and seal with the
Corporation's seal, an amending Agreement between the Province of
Ontario and the said Corporation dated the day of
1985, in the form attached hereto as Schedul e "X".
2. THAT Schedule IIX" attached hereto forms part of thi s
by-law.
BY-LAW read a first time this 25th
BY-LAW read a second time this 25th
day of
day of
Februa ry
February
1985
1985
BY-LAW read a third time and finally passed this
February 1985
25th
day of
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D. w. OAKES, CLERK
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THIS AMENDING AGREEMENT made this
14th
day of January
, A.D. 1985
BETWEEN:
THIS MINISTER OF MUNICIPAL AFFAIRS AND HOUSING
for the Province of Ontario
Hereinafter referred to as the "Minister"
OF THE FIRST PART
- and
THE CORPORATION OF THE
TOWN OF NEWCASTLE
Hereinafter referred to as the "Municipality"
OF THE SECOND PAKT
- and -
THE BOARD OF MANAGEMENT The Newcastle (Central) Business
Improvement Area
Hereinafter referred to as the "Board"
OF THE THIRD PART
WHEREAS by an Agreement dated the 9th
day of February
, 198 3
(herein called the "Original Agreement") the Minister, subject to
the terms set out in the Original Agreement, agreed to loan to the
Municipality the capital sum of 38,450
for the improvement and
beautification of municipally owned real property within the boundaries
of the Newcastle(Central)Business Improvement Area, which is under the
management of the Board;
WHEREAS the Municipality has repaid $ 4,229.50
of the $ 42,295.
capital and surcharge amount of the loan as of the date of this amending
agreement;
WHEREAS THE Municipality and the Ministry wish future loan repayments
to be made on the 30th day of September in each year;
NOW THEREFORE THIS AGREEMENT WITNESSES that in consideration of the
premises and the mutual terms and conditions hereinafter set forth
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2.
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the parties hereto agree each with the other as follows:
1. Clause 7 of the Original Agreement is deleted and replaced with
the following:
"7. The Municipality shall repay to the Ministry the balance
of the capital and surcharge amount of the loan of
$
42,295.
by annual payments of not less than
$ 4,229.50 each commencing on the 30th day of September
1985 and continuing on each anniversary date thereafter
until the loan amount has been paid in full."
2. Save and except for the amendment referred to in clause 1 hereof,
the Parties acknowledge and agree that the Original Agreement
continues in full force and effect.
IN WITNESS WHEREOF the parties hereto have hereunto affixed their
corporate seals, attested by the signatures of their proper signing
officers in that behalf, all as of the day and year first above
written.
THE MINISTER OF MUNICIPAL AFFAIRS AND HOUSING
for the Province of Ontario
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THE CORPORATION OF THE Ta^JN OF NEtM::ASTLE
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/feTf^-'6 Mayor ,\'.. or}
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Clerk
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THE BOARD OF MANAGEMENT OF
The Newcastle (Central) Business Irrprovement
Area
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Ministry of
Municipal Affairs
and Housing
Ontarioc . t R 1
ommun1 y enewa Branch
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JjJ? C/
585-6013
April 22, 1985
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APR 24 1985
Mr. T.T. Edwards
Director of Planning
Town of Newcastle
Hampton, Ontario
LOB lJO
TOWt.J OF ~'~EW(A:\71E
PLANNING DEPARTMENT
Dear Mr. Edwards:
Re: Main street Revitalization Program
Amending Agreement
Please find enclosed one executed copy of the Amending
Agreement covering the Town of Newcastle Main street
Revitalization Program.
Yours truly,
T. Moy
Community Renewal Officer
LJj'1["llON
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Enclosure
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