HomeMy WebLinkAbout76-37
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THE CORPORATION OF THE
TOWN OF NEWCASTLE
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By-Law Noo 76-37
Being a by-1al'1 to authorize the expenditure of
$10,000 by the Orono Hydro Electric Commission
and the issue of debentures for same.
WHEREAS the Orono Hydro Electric Commission has requested Council to
debenture an amount of $10,000 on behalf of the Commission. The sum of $10,000
to be used for the construction of Hydro Lines in the Village of Orono;
AND WHEREAS such Capital Expenditures and Debentures is authorized
by Section 354(1) of the Municipal Act (R.S.O. 1970 C. 384, S. 354(1)(53)
and Section 69 of the Power Commission Act R.S.O. 1970 C. 354 S. 69(1);
NOW THEREFOR the Council of the Corporation of the Town of Newc;astle
hereby enacts as fo110ws:-
1. 1'hat the Orono Hydro Electric Commission be authorized to expend the SU1Il
of $10,000 for Hydro Lines in the Village of Orono.
2. That the said amount be debentured over a term of ten years.
3. That the Principal and Interest be recovered proportionally over the
ten year period from the sale of electric power through the applicable
rates.
By-Law read a first and second time this ....l.~.. day of ~.... 1976
G.B. R1ckar~ ~~7'
Hayor
By-Law read a third time
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and finally (t~sed this .........
......~...., 1976.
day of
G. Be> Rickard
Mayor
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