HomeMy WebLinkAbout23 050 Municipal Drain #21 By-law Third and Final ReadingTHE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
BY-LAW
NO. 2023 - 050
Being a By-law to Provide for Drainage Works on Municipal Drain #21,
in the Municipality of Kincardine in the County of Bruce
Whereas the Council of the Municipality of Kincardine has procured a report
under Section 4 of the Drainage Act for the construction of Municipal Drain #21;
and
Whereas the report dated February 6, 2023 has been authored by R.J. Burnside
and Associates Limited and the attached report forms part of the by-law; and
Whereas $120,490 is the amount estimated to be contributed by the Municipality
of Kincardine for the drainage works; and
Whereas the Council is of the opinion that the improvement of the Municipal Drain
is desirable; now therefore be it
Resolved that the Council of The Corporation of the Municipality of Kincardine
ENACTS as follows:
1. That the Engineer’s Report dated February 6, 2023 and attached hereto, is
hereby adopted and the drainage works is authorized and shall be
completed as specified in the report.
2. That The Corporation of the Municipality of Kincardine may borrow on the
credit of the Corporation the amount of $939.000.00, being the amount
necessary for the construction of the drainage works.
3. THAT The Corporation may issue debenture(s) for the amount borrowed
less the total amount of:
(a) grants received under section 85 of the Drainage Act;
(b) monies paid as allowances;
(c) commuted payments made in respect of lands and roads
assessed with the municipality;
(d) money paid under subsection 61 (3) of the Drainage Act;
(e) money assessed in and payable by another municipality.
Such debenture(s) shall be made payable within 5 years from the
date of the debenture(s) an shall bear interest at a rate not higher
than 2% more than the municipal lending rates as posted by
Infrastructure Ontario on the date of sale of such debenture(s).
4. A special equal annual rate sufficient to redeem the principal and interest
on the debentures shall be levied upon the lands and roads as set forth in
the Schedule in the report to be collected in the same manner and at the
same time as other taxes are collected in each year for 5 years after the
passing of this by-law.
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Municipal Drain #21
By-law No. 2023 – 050
5. For paying the amount of $120,490.00, being the amount assessed upon
the lands and roads belonging to or controlled by the municipality, a special
rate sufficient to pay the amount assessed plus interest thereon shall be
levied upon the whole rateable property in the Municipality of Kincardine in
2023 to be collected in the same manner and at the same time as other
taxes are collected.
6. All assessments of $5,000 or less are payable in the first year in which the
assessment is imposed.
7. This By-law comes into effect upon third reading of the By-law, which shall
occur once all appeals have expired.
8. This By-law may be cited as the “Municipal Drain #21 By-law”.
Read a First and Second Time this 12th day of April, 2023.
Mayor Clerk
Read a Third Time and Finally Passed this 12th day of June, 2023.
Mayor Clerk