HomeMy WebLinkAbout2061A by-law to authorize an Agreement with the Town of Bowmanville respecting annexation of lands in the Township.
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ALL THAT PART of the x~ms!-i~ ~a! ifiarlisagto~- ic- t>ha
Count~+ t-£ 13~ aoa~+sti~ix~~ Lot tiler ~ iu Ilse ~r~cen "rant
SCHEDULE B.
Alta IC Lk~ OF #~ ~IiEFF~c:Ti?
eado imx dupliaata this 17Ch dsy at Ilovoc~basr. ~.~. 195b..
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herainatter azalled the "~'aws°
~~d~
of Cha First ParCs
'ft~ G:~t2`'t~ftATI~'i ~ TIC 1`~'7~tP:SHIt'
i
herair~after eslled the "'Tcaae^cohipw
of Lha Seaa~d Pant
MIIIER~J-3 upon the application of the Toxs Mrith the con-
ANII ~tl~ it io neaeesary that the tuniaipslitieo
ad~uotoa~ of assets snd liabilities xith respect to the as+ea
beir~ a~eauood.
ltE~U 9fIII~R1~ it Iwo base aplresd by and betereen the
parties as hersinatter sat ouC.
IDq~i THFeFFf~.I~ !'Hi9 i~a 1' YZT1~89~11 'Chat the
parties hereto sautually r~renaut ana3 agree to and with sash other to
Yollowoe
i. '1"h+e 1'q+rc~ shall pay to the Township on or betoro the
1st day tst Julys lg5~r ao the 'Pown~o share of the unpaid principal
porn of debe~urea issued for the purposes of the South tlarli
Township school atw-+ar and outstanding at Geceasbsr 31st, 1456r the
sue of 1~1,1-5$.61, the said sues being Imputed as tollowot
} x 317.132.bf1 (unp~-id gobesture
• « asses a area) p~'iato. }
~~,
~. The Town shall pay to the Township on or before the
let day of•Julg in each of the gears 1957 and X958 a sum of money
representing a portion of the Durham County District High School
Board annual payments on account of debenture principal and interest.
and annual lsrry (i.ncluding estimated operating costa and deficits),
payable by the Township for the gears 1957 and 195$, the seas being
coaputed according to the following formula;
ar~era x Aaount of High School Board annual
asseasms~o owrls~i p Debenture Payaents and Levy
pRpGIDED that the ad$ustmsnt set out in this paragraph shall be the
only ad~uataent between the parties frith respect to the said annual
debenture payments and the annual levy of the Barham County Biatrict
High School Board on the Township, it being agreed that all later
levies and debenture payments will bs ad~ustsd autoaatlcallg by
the inclusion of the assessment of the annexed area in the assess-
meat of the 2'own, and the consequent elimination of the aaaesament
of the axutexed area from the assessment of the Township. Ths
ward "aaaeasment'* wherever used in the formula in this paragraph,
unless otherwise indicated shall mean the last revised assessment
of the respeativs parties to this Agreement.
~. The Township shall provide the Town with a list of all
arrears of taxes against lands in the annexed area as of December
31st, 1956, and all such arrears shall be payable to, and collected
by, the Tern and shall be forthwith paid over to the Township= and
the Town egress to take all such steps as are required by law to
procure the payment of such arrears.
4. A11 the fixed assets and equipment of the Township,
including real propsrtg and all school properties situate within
the Township, anti all office equipment, road machinery, actor
vehicles, supplies and equipment and other assets of a like nature,
az~d all real and moveable property, and all cash on hand
and on deposit in bank accounts, subsidies receivable, accounts
receivable, prepaid expanses and taxes receivable, including arrears
of texas„ now belonging to the Township or to ang School Board
operating within the Township, shall continue to bs the property of
the Township or of such School Boards as the case may be, in the
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saes r as though tha aanaauttic+~ order had zsot ~r •Itde.
$r It !.s Further de1c11trsd and agreed by aaad bet~reea the
IAE ~I ~ ~f2~Itg0~' the parties haw ~ea~unto stt~x+ed
their eorparate seals attested la~- the haacte of their proper otfwta
to that behalf.
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the prsse~sce of
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