HomeMy WebLinkAbout84-142
AMENDED BY
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BY"LtIW It.............
THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW NUMBER 84- 142
Being a by-law to authorize the expenditure of
$300,000 by the Newcastle Hydro Electric
Commission and the issuing of debentures for
same
WHEREAS the Newcastle Hydro Electric Commission has requested Council to
debenture an amount of $300,000.00 on behalf of the Commission to be used
for the construction of a new centre of operations;
AND WHEREAS, Section 51, Chapter 302 of The Municipal Act, R.S.O. 1980,
and Section 68 (2) Chapter 384 of the Power Corporations Act, R.S.O. 1980,
provides for such expenditures by a public utility and for the issuing of
debentures therefore:
NOW THEREFORE THE CORPORATION OF THE TOWN OF NEWCASTLE ENACTS AS FOLLOWS:
1. That the Newcastle Hydro Electric Commission be
authorized to expend the sum of $300,000.00 for the
construction of a new centre of operations.
2. That the sum of $300,000.00 be debentured over a period
not to exceed 20 years.
3. That the principal and interest be recovered
proportionally over the period from the sale of
electrical power through the applicable rate.
READ a first time this 10th
day of December ,1984.
day of December ,1984.
READ a second time thi s 10th
READ a thi rei and fi nal time thi s 10th
day of December , 1984.
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Clerk~,({JA
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