HomeMy WebLinkAbout99 105 Tile Drain Loan - Craig
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THE CORPORATION OF THE TOWNSHIP OF KINCARDINE-BRUCE- TIVERTON
BY-LAW
NO. 1999 - 105
A BY -LAW IMPOSING SPECIAL ANNUAL DRAINAGE RATES UPON LAND IN
RESPECT OF WHICH MONEY IS BORROWED UNDER THE TILE DRAINAGE ACT
WHEREAS owners of land in the municipality have applied to the Council under the Tile
Drainage Act for loans for the purpose of constructing subsurface drainage works on
such land;
AND WHEREAS the Council has, upon their application, lent the owners the total sum
of $11,300.00 to be repaid with interest by means of rates hereinafter imposed;
NOW THEREFORE the Council for the Corporation of the Township of Kincardine-
Bruce- Tiverton ENACTS as follows:
1. That annual rates as set out in the Schedule 'A' attached hereto are hereby imposed
upon such land as described for a period of ten years, such rates to be levied and
collected in the same manner as taxes.
2. This By-Law shall come into full force and effect upon its final passage.
3. This By-Law may be cited as the "Craig Tile Drain Loan By-law".
READ a FIRST, SECOND and THIRD time and FINALLY PASSED this 25TH day of,
August, 1999.
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~ World" Form ',18
. .,. T.M. lit C..... M.;dpøl Wørl4I1tC.
OFFER TO SELL
Tile Dr'lJinap Act, R.S.O. 1990. c. 1'.8. $. 5 (8)
a.R,O. 1990. Reg. t032
Fonn .
TO THE TREASURER OF ONTARIO
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The Corporation of
TownshiD
of Iüncardine-B:rl1N>-TivertDn
hereby offers to sell Debenture No. 1999-09
in the principal amount of $ 11.300.00
to the Treasurer of Ontario as authorized by Borrowing By~aw No. 1999-50
of the Corporation.
The principal amount of this debenture is the aggregate of individual loans applied for and each
loan is not more than 75 per cent of the cost of the drainage work constructed.
An inspector of drainage, employed by the Corporation, has inspected each drainage work for
which the Corporation will lend the proceeds of this debenture and each has been completed in accordance
with the terms of the loan approval given by council.
A copy of the Inspection and Completion Certificate (Form 8 of the regulations under the Tile
Drainage Ac~ for each drainage work, for which the Corporation will lend the proceeds of this debenture, is
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attached hereto.
Ccrp()!.·¡/;¡} Selll
lure 01 Tl88S1Jrer
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