HomeMy WebLinkAboutKIN1928-983 Construction of an Asphalt Pavement9 44
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BY -LAW N0,
A By -Law to authorize the construction of an asphalt pavement
on Durham Street from Huron Terrace Street to Princess Street an a
local improvement under the provisions of The Local Improvement Act.
WHEREAS John Inglie.James F.ldarous and others have petitioned
the Council of the Corporation of the Town of Binoardine to oonetruot
as a local improvement an asphalt pavement thirty feet in width tith
curb and gutter on Durham Street from Huron Terrace Street to Princess
Street;
AND WHEREAS the Clerk of the said Corporation has certified that
the said petition is sufficient and it is expedient to grant the
prayer of the said petition in the manner hereinafter provided;
TH . 3 20M THE WMIOIPAL OOUNOIL OF TH7 CORPORATION OF THE TOWN
OF KINCARDIN3 ENAOTS AS FOLLOWS:-
(1) That an asphalt pavement thirty feet in width with curb and
gutter be constructed on Durham Street from Huron Terrace Street to
Princess Street as a local improvement under the provisions of the
Local Improvement Act;
(8) That the Engineer of the Corporation. /rt o
forthwith make such plane.profiles and speoifioationa and furnish
Such information an may be necessary for the making of a contract for
the execution of the work.
(3) The work shall be carried on and executed tnder the auperinten-
dance and according to the directions and orders of such engineer.
(4) The ldayor and Clerk are authorized to cause a contract for the
construction of the work to be made and entered into with some person
or pareons.firm or Corporation.subjeot to the approval of the Council
to be declared by resolution.
(b) The Treasurer may (subject to the approval of the Council)
agree with any bank or person for temporary advances of money to
meet the cost of the work pending the completion of it.
(6) The Special Assessment shall be paid by twenty annual inetal-
ments.
(7) Twenty -five per cent of the cost of construction of suid pave.
ment shall be paid by the Corporation at large Lind seventy -five par
cent thereof shall be paid by the ratepayers whose property abuts
(E)
Upon the work to be construoted.thia by -law being passed by a vote
of three - fourths of all the members of the Council.
(9) The debentures to be issued for the loan to be effected to pay
for the cost of the work when sompleted.ahall bear interest at five
per cent per annum and shall be payable within twenty years on the
instalment plan.and in settling the aum to be raised annually to pay
the debt.the rate of interest on investments shall not be estimated
at more than four per cent per annum.
(9) Any person whose lot is apecielly assessed may commute for a
Payment in cash the special rates imposed thereon b Paying the
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Of the cost of construction aseeseed upon each lot.without
the interest forthwith after the Speoiel Assessment Roll has been
certified by the Clerk.and at any time thereafter by the payment of
such Bum as when invested at four per cent per annum will provide
an annuity atftloient to pay the'speciel rates for the unexpired
Portion of the term as they fall due.
Signed.Sealed and Finally Passedhls � l daY of November 1928,
Olert. Mayor.
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