HomeMy WebLinkAbout84-86
THE CORPORATION OF THE TOWN OF NEWCASTIE
BY-LAW 84-86
being a by-law to authorize payment of $15,000 by way
of a loan to the Memorial Park Association to expand the
Memorial Park Hall Building.
WHEREAS Section 113 of the Ontario Municipal Act, R.S.O. 1980, provides
that by-laws may be passed to allow 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 Municipality;
WHEREAS the Memorial Park Association has received approval from the
Corporation of the Town of Newcastle to expand the Memorial Park Hall
Building;
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 Council approve the expansion to the Memorial Park Hall Building
as set out in the application for a building permit to the Corporation
of the Town of Newcastle; and
2. That the Memorial Park Association be granted an interest free loan
in the amount of $15,000; and
3. That said loan be repaid over a 6 (six) year period, commencing
in December 1985 from revenue generated by the Memorial Park
Association, with no one year's payment being less than $1,000; and
4. That this by-law shall come into 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
By-Law read a third and final time this
25th
25th
:~
/
of June 1984
of June 1984
/M4~
MaYor~~.~.
Clerk
I FilII N", mn jfL, LJ(mmnm_:::]
. . _nm_~,~J'(L__~___-_n'-'7'-:;-- .