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BY- LAW 1558
NEVER
RECEIVED
THIRD
READING
A By-Law to authorize the construction, reconstruction, extension of certain capital works in the Police Village of Orono in the Township of Clarke as a Local Improvement under the provisions of The Local Improvement Act.
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3. The Engineering Consultant for the Corporation of the Township of
Clarke in this matter shall be Totten Sims Hubi.cki ~ Associates Limited,
Whitby, Ontario, and they shall forthwith make such plans, profiles, and
specifications and furnish. such information as shall be necessary.f or the
making of a. contract for the execution of the work. Such plans and
specifications to clarify in detail the works already outlined in their
preliminary report referred to under item 2, above.
4. The work shall be carried on and executed under the superintendence
and according to the direction and orders of s~ich Engineering Consultants.
5. The Reeve and Clerk are authorized to cause a contract for the
construction of each and every work or any combination thereof to be made
and entered into with some person or oersons, firm or corporation, subject
to the approval of this Council to be declared by resolution.
h. For the purposes aforesaid the Corporation of the Township of Clarke
shall borrow upon the general credit of the Corporation a sum sufficient
to finance their portion of the said works which sum shall not exceed
~3~,0~0.00 and may issue debentures, therefore, when duly authorized
and approved.
'7. The treasurer may (subject to the approval of the Council) agree with
any bank or person for temporary advances of money to meet the cost of
the work pending the completion of it at a rate of interest not to
exceed six percent (6~) per annum.
~. Any debentures to be issued for the loan to be effected to pay for
the cost of the work when completed shall bear interest at a rate not
to exceed six percent (6~) per annum and be made payable within 5 years
on the instalment plan.
9. The principal of the said debt repayable in annual instalments during
the period of five ,years after the date of the completion of the said
work shall be in such amounts respectively so that with the interest in
respect of the debt the aggregate amount payable for principal and
interest in each ,year shall be as nearly as oossible the same.
10. In each ,year of the currency of the det,t there shall be levied and
raised by special rate sufficient therefore, over and above all other
rates, on all the taxable property of the ratepayers of the Police Village
of Orono at the same time and i.n the same .manner as other rates, the
sum shown in item 6, and referred to i_n item 9. aforementioned, but it
shall not he necessary to levy in any ,year a greater amount than is
required to pay the instalment after taking into account receipts under
The Highway Improvement Act or from any other source in connection with
the proposed work.
By-Law read a first and second time this 3rd day of October t~,D, 1~6i.
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Reev
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Clerk
By-Law read a third time and finall~T passed this day of A.D. 19
Reeve
S E A L
Clerk
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