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Home My WebLink About06 276 Amend 06 276 . --- . . . THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE No. 2006 - 276 BEING A BY.LAW TO FURTHER AMEND BY.LAW NO. 2006 - 069, BEING A BY-LAW TO ADOPT THE ESTIMATES OF ALL SUMS REQUIRED DURING THE YEAR TO STRIKE THE RATES OF TAXATION FOR THE YEAR 2006 WHEREAS Section 290 of the Municipal Act, 2001, 5.0. 2001, c. 25, as amended, provides that a local municipality shall in each year prepare and adopt a budget including estimates of all sums required during the year for the purposes of the municipality; AND WHEREAS the Council of The Corporation of the Municipality of Kincardine, with the passage of By-law No. 2006 - 069, adopted the estimates of all sums required during the year to strike the rates of taxation for 2006; AND WHEREAS the Council of The Corporation of the Municipality of Kincardine deemed it necessary to amend By-law No. 2006 - 069 with the passage of By- law No. 2006-80 and By-law No. 2006-135; AND WHEREAS the Council of The Corporation of the Municipality of Kincardine deems it necessary to further amended By-law No. 2006 - 069; AND WHEREAS these amendments have no impact on the tax levy or the tax rate; NOW THEREFORE the Council for the Municipality of Kincardine ENACTS as follows: 1. That the 2006 Budget Summary and the Reserve and Reserve Funds Continuity Worksheets, originally confirmed with the passage of By-law No. 2006 - 069, are hereby amended to include the following items, and attached to this by-law as Schedule "A": i) KWTP Water System Capital Budget - Scott's Point Contribution to Reserve Fund be amended to show a decrease in Submission Revenues and Transfer to Scott's Point Water Reserve Fund from $80,472.00 to $56,812.00 each. This reduced requirement for submission revenues to fully fund the Scott's Point Water Reserve Fund Deficit is the result of transferring funds in the amount of $23,660.91 from the Ward 3 Road Construction Reserve to the Scott's Point Water Reserve Fund . . ./2 '--.- . . . . Page 2 By-law No. 2006 - 276 Amendment (3) to the 2006 Taxation By-law ii) KWTP Water System Capital Budget - Underwood Contribution to Reserve Fund be amended to show a decrease in Submission Revenues and Transfer to Underwood Water Reserve Fund from $123,226.00 to $101,993.00 each. This reduced requirement for submission revenues to fully fund the Underwood Water Reserve Fund Deficit is the result of transferring funds in the amount of $21 ,234.15 from the Ward 3 Road Construction Reserve to the Underwood Water Reserve Fund. iii) Transfer of $191,714.64 from the Ward 3 Road Construction Reserve to the Tiverton Water Reserve Fund. iv) Transfer of $620,125.41 from the Ward 3 Road Construction Reserve to the Ward III Rural Road and Bridges Reserve Fund. 2. That this by-law shall come into full force and effect upon its final passage. 3. This By-law may be cited as the "Amendment (3) to the 2006 Taxation By- law". 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W www ;; Cl .1: ~ 8. o 1: Q) Ul E c c. ~ 0 ~ ~ ,~ 0 Ul ~ iij -;;-gc o/l iiJ Ul 0 s: .2 Ol 'C:l 'c ~ 'R <.l iij ~ ,I: g~~~:g~'g~ U<(u,c..c..Cl::I-c.. ggg~ ~g~a) IOCOIOIOIOT'"COI'-T'" . . . .00 - - -co ;g~::~Ol_~l:;~o NMVNIOVT'"IOCO WWWWT'"O:-iWWT'" O!.w .j Ol T'" W W "ffi ~ C. III U 1: Q) '" E c c. o 0 ~ Qj c ~ ~ o 0 Ul 0 ~ ~-gg o/l -UlOS:"" <;II '0 .!!! Q) U III E c c ,5 ~ Q) g e! .~ 'c ~.g'i6e.g lil ~~ U<cu,c..c..Cl::I-c.. Municipality of Kincardine . Analysis of Ratepayer Obligations for Underwood & Scott's Point System Underwood Scott's Point Reserve Fund Deficits Res Fund Deficits - orig est as of Dec 31/06 $123,226.71 $80,472.41 Less: Transf from Ward 3 Road Construction Res ($21,234.15) ($23,660.91) $101,992.56 $56,811.50 Total No of Customers 35 39 Amount per Customer to Fund Deficits $2,914.07 $1,456.71 OSTAR Upgrades Total Cost of Work Completed $200,582.00 $210,975.00 . Approved Funding to Date from OSTAR ($56,756.00) ($150,000.00) Note: Municipality has requested re-evaluation of funding, particularly for Underwood $143,826.00 $60,975.00 Total No of Customers 34 39 Amount per Customer to Fund OSTAR upgrades $4,230.18 $1,563.46 1964.523706 Amount required as Contribution to new consolidated Reserve Fund $300.00 $300.00 Total for Customers 1 $2,914.07 34 $7,444.25 39 $3,320.17 Notes . 1. Expenditures incurred deemed ineligible may result in a slight increase per ratepayer 2. If evaluation review of the Underwood OST AR project approves more funding, this amount might be reduced to approximately $5,200.00 .