HomeMy WebLinkAbout85-64
It
.
Corporation of the Town of Newcastle
BY-LAW 85- 64
BEING A BY-LAW TO AUTHORIZE PAYMENT OF $3,000 BY WAY
OF A LOAN TO THE ORONO D I STR I CT BUS I NESS I WROVEtENT
AREA FOR THE BEAUT I F I CAT I ON OF THE MA I N STREET IN
ORONO.
WHEREAS, Section 113 of the Ontario Municipal Act, R.S.O.
1980, provides that by-laws may be passed to al low the
Corporation to make loans to any association or body for which
the Corporation deems such association or body has a vested
interest in the Municipal ity;
WHEREAS, the Orono District Business Improvement Area has
received approval form the Corporation of the Town of Newcastle
for the beautification of the Main Street in Orono.
NOW THEREFORE, the Council of the Corporation of the Town of
Newcastle, pursuant to Section 113 of the Ontario Municipal Act,
R.S.O. 1980, ENACTS AS FOLLOWS:
1. That the Orono District Business Improvement Area be granted
an interest free loan in the amount of $3,000; and
2. That said loan be repaid over a 3 (three) year period,
commencing in July 1986, with no one year's payment being
less than $1,000; and
3. That this by-law shal I came in effect on the date of
passing, 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 13th day of May~
1985.
BY-LAW READ A THIRD AND FINAL TIME THIS 13th day of May, 1985.
~A~-/
G.B. Rickard, Mayor /
seal
~.rd~~.
D.W. Oakes, Town Clerk
I File No..A~:..dz.rL.L1J"":'u_._._.1
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Ontario
B 850615
Ontario Municipal Board
IN TUB MArlU or Sec~ion 6" of
The Ontario Municint Boarel Act..
1R.8.0. 1980, c. 3
- and -
IN TO MATTER OF an applicat.J.on
by The CoJ:POrat.ion of t.he !'own
of .ewcast.le for an order
au~orizing the pa,.nt. of an
int.erest. free loan of $3,000.00
to the Board of Hanag...nt. of
the Orono Dist.rict. BU8iness
Improvement. Area, for the
beaut.ificat.ion of The Main Street.
in Orono
BBrORB.
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I'ri4ay, the 7th clay
of June, J,985
D.B. JlcaoBB
Vice-ChaLnaan
G.I. THOMSON
Member
DB BOARD ORDBltS that. this appl1cat.ion be grant.ed and that.
the applicant. may make 8uch loan 1ft the amount. of $3,000.00
anel may pa8s all requisit.e by-laws, provided that. ~e 8a14
BU8a.88 Iaproveaent Area Management. shall repay 8uch loan
to said Corporat.ion by payment.s of $1,000.00 in each of the
years 1986 t.o 1988 inClu8ive and provided further that. the
corporat.1on in exuci8ing any power approved by this order
shall coaply and conform wit.h all stat.utory and ot.her legal
requ:1.re.nt.s re1*t.ed theret.o.
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SECIUr.l'ARY
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