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THE CORPORATION OF THE TOWN OF NE.WCASTLE
BY-LAW 89 - 50
being a by-law to establish maximum
charges to be levied by a special charge
upon persons in the area assessed for
business assessment in the area in the
the Orono Central Business District
designated as an Improvement Area.
WHEREAS Section 217(1) of The Municipal Act, R.S.O. 1980, provides that
the Council of a local municipality may pass by-laws designating an area
as an improvement area:
AND WHEREAS Section 217(17) of The Municipal Act, R.S.O. 1980, provides
that subject to such maximum and minimum charges as the Council may
specify by by-law, the COuncil shall in each year levy a special charge
upon persons in the area assessed for business assessment sufficient to
provide a sum equal to the sum of money provided for the purposes of the
Board of Management for that area, together with interest thereon at such
rate as is required to repay any interest payable by the municipality on
the whole or any part of such sum, which shall be borne and paid by such
persons in the proportion that the assessed value of the real property
that is used as the basis for computing the business assessment of each
of such persons bears to the assessed value of all the real property in
the area used as the basis for computing business assessment.
NOW THEREFORE, BE IT ENACTED AND IS HEREBY ENACTED AS A BY-LAW OF THE
CORPORATION OF THE TOWN OF NEWCASTLE BY THE COUNCIL THEREOF AS FOLLOWS:
All persons in the area assessed for business assessment in the area of
Orono Central Business District designated as an Improvement Area
withing the meaning of the Municipal Act, shall be subject to the
following maximum charges for such purposes as shall be determined by
Council :
council shall not approve any estimates submitted in an
annual budget of the Board in excess of the sum of $20,000.
By-law read a first and second time this 28th day of March
1989.
By-law read a third time and finally passed this 28 day of March
1989.
f)
Mayor
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