HomeMy WebLinkAbout81-27
"
.
THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW 81-27
being a by-law to raise money to aid in the construction
of drainage works under The Tile Drainage Act, 1971.
The Council, pursuant to The Tile Drainage Act, 1971, enacts as follows:
1. 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 $200,000 (Two Hundred 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 Buildings, 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.
.
2. Where an application for a loan under the Act is approved by the Council
and the inspector of drainage has filed with the Clerk on 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.
3. 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Newcastle on the 7th day of April 1975 is hereby repealed.
By-Law read a first and second time this 23rd day of February 1981.
By-Law read a third and final time this 23rd day of Feburary 1981.
Garnet B. RiCkar~~~
Mayor
.
Joseph
Clerk
/7 ~
M. MCIlro~~
I file ;: Q .nun/9."'h~.'1.:n~....."..J
~
-
'\,
. -?
.
.
.
J
C E n T 1 1" I E J) C' () P Y
________._ '..-'-.-__9' __...__ __ _.
I, JU~;l.'ph 1.1. McIlroy. oJ the TI/V"'l of ilev:caf.1.1 e, jn the
Region of Durham, Municipal Clerk, ])0 llEHEI3Y CEl1TIFY that
81-27
attached hereto is a true copy of By-Law Number
passed by the Council of the Corporntion of the 'I'own of
Newcastle at its meeting held on the 23rd
duy of
l=E'hrlf" ry
, 19 .,ll..
WITNESS my ha!1d anel ~;eal of The Corporation.
DATED this
Third
day of
..... .~a.r~~..........., A.D. 19 13J:
!!"
..
'.
."
,
~
..
THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW 81-27
being a by-law to raise money to aid in the construction
of drainage works under The Tile Drainage Act, 1971.
The Council, pursuant to The Tile Drainage Act, 1971, enacts as follows:
1. 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 $200,000 (Two Hundred Thousand Dollars) as
may in manner hereinafter provided, arrange for the issue of
debentures on behalf of the Corporation for the amount so borrowed as
provided in the Act payable to the Treasurer of Ontario at the
Parliament Buildings. Toronto, which debentures shall reserve the
right to redeem the debentures at any time on paymen{ of the whole
amount of principle and interest owing at the time of such repayment.
2. Where an application for a loan under the Act is approved by the Council
and the inspector of drainage has filed with the Clerk on inspection
and completion certificate, the Council may apply to the Regional
Municipality of Durham to include a sum, not exceeding the amount
applied for or 75 per cent of the total cost of the drainage work with
respect to which the loan is made, in a debenture payable to the
Treasurer of Ontario in accordance with the Act, and may approve of the
Corporation lending the said sum to the applicant.
3. A special annual rate shall be imposed, levied and collected over and
above all other rates upon the land in respect of which the money is
borrowed, sufficient for the payment of the principle and interest
as provided by the Act.
4. By-Law 75-25 passed by the Council of the Corporation of the Town of
Newcastle on the 7th day of April 1975 is hereby repealed.
B.y:Law read a first and second time this 23rd day of February 1981.
By-Law read a third and final time this 23rd day of Feburary 1981.
~:~~~tB. Rickard .Ji:~ d /--"~('
.'",
~os~Pl1_.!1._l:1s: 11 roy ~,;(I""'~' / ' /- .~
Clerk . ',:/7 / ,,~
102220
)
,
No. . . . f Newcas\\e (No. lol _.J of.
Registry DIvIsion? ' nt is register""" 8$
I CERTIfY that thiS IOstrume
.M. MAR 3 II 51 J\M '81 in die
BY-LAW NO. 81-27
Land Registry
OHice at
Bowmanville,
Ontario.
~a:::::f
CORPORATION OF
THE TOWN OF
NEWCASTLE
to raise money to aid in the
construction of drainage works
under The Tile Drainage Act 1971.
o
LAN]) , PilJD
IEC/STIY (Jprr
'HCE 1m. .1P
16.0f)
.
.
.
~
.-. ., ....