HomeMy WebLinkAbout81-110
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THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW 81- 110
being a by-law to raise money to aid in the construction of
drainage works under The Tile Drainage Act 1971
The
1.
Council, pursuant to The Tile Drainage Act 1971 enacts as follows:
The Corporation may from time to time, subject to the provisions of
this by-law, borrow on the credit of the Corporation such sums not
exceeding in the whole $155,000 (One Hundred and Fifty Five Thousand
Dollars) as may in manner hereinafter provided, arrange for the
issue of debentures on behalf of the Corporation for the amount so
borrowed as provided in the Act payable to the Treasurer of Ontario at
the Parliament Bui1dings,Toronto, which debentures shall reserve the
right to redeem the debentures at any time on payment of the whole
amount of principle and interest owing at the time of such repayment.
Where an application for a loan under the Act is approved by the
Council and the inspector of drainage has filed with the Clerk an
inspection and completion certificate, the Council may apply to the
Regional Municipality of Durham to include a sum, not exceeding the
amount applied for or 75 per cent of the total cost of the drainage
work with respect to which the loan is made, in a debenture payable
to the Treasurer of Ontario in accordance with the Act, and may
approve of the Corporation lending the said sum to the applicant.
2.
A special annual rate shall be imposed, levied and collected over and
above all other rates upon the land in respect of which the money is
borrowed, sufficient for the payment of the principle and interest
as provided by the Act.
4. By-Law 75-25 passed by the Council of the Corporation of the Town of
Newcastle on the 7th day of April 1975 and By-Law 81-27 passed by the
Council of the Corporation of the Town of Newcastle on the 23rd
day of February 1981 are hereby repealed.
3.
By-Law read a first and second time this Eighth day of September 1981
By-Law read a third and final time this Eighth day of September 1981
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Garnet B. Rickard ~~ ~~/
Mayor
David W. Oakes
Clerk
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Ontario
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Ontario Municipal Board
iii TO HAftBa 01' SeoUoa 64 of
file on~o -.1811&1 Soard Aet.,
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iii 'fBB HAftBa 01' an appUcaUcm.
by 'lbe CoqoraUoa of the '1.'Own
of Newou'tle for lApp_val of
t:be boROriD9 on 1u bebalf by
TIle ..ponal MuJ'l1oipall t.y of
Dullam ~. __ .f $155,000.00
to be _4 by the appUoant
fo&- t:be pw:poa.. 0' fte ~11e
DealBate ~, 1171, o. 37
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8BI'OREI
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Tuesday, the 23rd day
of June, 1981
A.B. ARBBLL, a.c.
vtae-chail:'lDaft
D.S. COLBOUDB
Vioe-cbainan
THE BOARD ORDERS t;bat. tbia appu'caUoD be CJftDuc! and
that'llie Regional MUD1cipal1 t.y of Duzilam may now
. proceed w11:b the bonowiDg \\POD debeDt.w:ee Oft behalf
of The COl:pOraUon of the 'lown of Newaastle in . total
aum DOt. _ exceed $155,000.00, and for such pwrpoee bo1:b.
'the said .,1onal munlcd.palJ. 1:7 and tile appliOBD't
. COJrpO&,.UOIl may pa.. all requiaite by-law_.
SECIUft'ARY
ENTERED
No..$8:'J-;l
tulio No.,R?f.~"""""""
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JUN :1 6 1981
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1- ~, ONTARIO "'UI/ICI '1Jl t!
PAL BOARD