HomeMy WebLinkAbout06 303 Annual Drainage Rates
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THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
BY-LAW
NO. 2006 -303
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 of The
Corporation of the Municipality of Kincardine 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 $96,800.00 to be repaid with interest by means of rates hereinafter
imposed;
NOW THEREFORE the Council for the Corporation of the Municipality of
Kincardine 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 "December 2006 Tile Drain Loan
Debenture By-law".
READ a FIRST, SECOND and THIRD time and FINALLY PASSED this15th day
of November 2006.
Y1t. H.re. ~
Mayor
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(QMunicipal World" - Form 1118
· Reg T.M '" Canada. Mumclpal World Inc
1'.11" l>ramage Act
R.S.O. 1990. c lK s 5 (81
R.R.O. 1990. Rc~. 1032. form 9
OFFER TO SELL
TO THE TREASURER OF ONTARIO
The Corporation of
the Mllnic:ipnlity
of Ki nC:(Irdi np.
hereby offers to sell Debenture No.
in the principal amount of $ % J ROO 00
?00fi-1?
to the Treasurer of Ontario as authorized by Borrowing By-law 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 Act) for each drainage work, for which the Corporation will lend the proceeds of this debenture, is
attached hereto
'1l ,~~/\. I (,. 207) (,
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Date
Corporai"-e Seai
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Signature of Treasurer
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