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The Corporation of the
Town of Bowmanville
Bylaw No. 1983 944�4
A By-Law to allow a discount on taxes paid in advance.
WHEREAS Council is authorized under the provisions of Section 120
of The Assessment Act R. S. 0. 1960, Chapter 23s to pass bylaws
as to the mode of payment of taxes.
AND WHEREAS it is hoped that a large enough portion of taxes will
40 be prepaid obviating the need for municipal borrowing at a higher
rate of interest.
NOW THEREFORE the Council of the Corporation of the Town of
Bowmanville ENACTS AS FOLLOWS:
1. The Treasurer is hereby authorized to receive in any year
payments on account of taxes for that year in advance of
the day that may be fixed by bylaw for the payment of any
instalment of such taxes notwithstanding that the taxes for
such year have not been levied or that the assessment roll
on which such taxes are to be fixed and levied has not been
revised and certified by the Court of Revision when any such
payment is made;-
2. There shall be allowed a discount on any taxes so paid in
advance at a rate of 4 per cent per annum during the period
January 1st to January 31st inclusive and a rate of 3 per
cent per annul on taxes so paid in advance during the period
February 1st to February 28th inclusive.
39 BY-Law 1704 and all by -laws at variance to this by-law are
hereby repealed.
4. This Bylaw shall take effect from and after the lot day of
January 1967.
READ a first and second time this i91° day of September, 1966.
ae and finally passed t s /9'fday of Septembers 1966.
yor
Clerk.