HomeMy WebLinkAboutKIN 69 2101 Enlarge water mains
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CORPOU'fIOK OF !'HE TOWN OF IIKC liE
BI-L11f BO. 2101
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A BI -L&1f TO AU'l'HORIZE THE ElfL1RG IllG AID ROVEIIU'l' OF
CDTAIB YAUI MAIRS AID HYDR.U'1'S Ilf THE T'M F KINCARDINE:
1fIDJ:UI it is previded by the Municipal Ac , R.S.O. 1960,
Cb. 2~9 Section 379 S.S. 52 "A" "1" that Ceua il of local
.uni8ipalities ..y pass by-laws for autboris g ,be co.pl.tioD,
aprev....', alt.ration, enlarge.ent or exteR ion of any JNblic
1IDciertak1D& or any other part or parts thereo , owned by tbe
Corporation and controlled and IIII.Daled by tbe Cnncil or a
Public Utility Co..tssion.
WBDJ:.a$ certain rat.pay.rs in tb. Town of incardine bave
requested tbe Public UtilUies Co.m.ssioa of he said Town of
KinurdiDe to iDstal new and larger wateruin and hydrants as
set out in Schedule "A" attached hereto;
1JfD lfIfDJ:&A tbe said ratepayers have alrea y paid for the
watel'llains and hydraDts beretofore laid along the streets here-
inafter described under the provisions of the Local Improveaent
Act;
JJß) WDø:¡$ no local iaproveaent rates for tbe wateruins
bereinafter .entioned are new being levied u n the lands owned
or .eeupied by the ratepayers wbese property nts 1Ipe. the
said watel'llains;
AID 1IØD.t~ the Public UtiliUes Coaaissio has requested tbe
Council of tbe TOWD of Kiacardine to pass tbi by-law;
JJß) 'WIfDK,aA tho Cotmcil of tbe Town of Kin rdine de.as it
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expedient to instal tbe waterJU.ins herein aft r ..ntioned;
1JfD lfIfDKA,.q it is Duessary to borrow the ua of $~5,OOO.00
on the credit of tàe Corporation at Eight and tbr.e~wart.rs
per cent per amaua which is the UIOUDt of tbe debt intend.d to
be croated by this by-law;
.&liD fiElUS the BaDk ot Moatreal has agreed loan the Corporation
the said sua of $4.5,000.00 at an interest rat of Eight and three
quarter per cent per amaua;
AID 1fHERUS this by-law is approved by the Ontario Municipal
· Board by ita order datod tbe 26th FebM]""" 191r;
AIIÐ WBQK&A The Ontario Yat.r Resources ssion has approved
the said .nensioDs by its Certificat. No.7 759-69-006 dat.d the
22Dd day of October , 1969 unde Section 30 of the
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Oatar1o Yater C-1..ion Act;
TllUFOU tho eo.-cil of the Corporation 0 the Town of
. KiDcardino enacts as follows;-
(1) That a sua not exceedinr; $J..5,000.00 be bo
d. fro. the
Bank ot Montzoeal in tbo Town ot Kincardine to the purpose
atoresaid by way of prelliS80ry notes.
(2) That each prolliS80ry note shall bear into st at tbe rate of
8~ per amnœ.
(3) '!'hat eaela prollissory note shall be sealed with the seal of
the Corporation signod by the head of the CQ cll or by so.e
othor person autlaorised. by by-law to sign the .... and by
the treasurer.
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(~) TlIat dObentures shall be issued for sale f the cost of said
proj.ct but not exc.odiJlr; *4.5.000.00.
(5) That this by-law shall bee... effective u D. the final
passinr; thoreot.
.-~::--:5~;:-..uÐ a first and ..coRd tiae this 7th da d: Nove.ber
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. -<cc.:·':::,--:·Clerk .' Ma r
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1969.
RE.I.Ð a third tiM aad finally pass.d this
19110.
5 h day ot March
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