HomeMy WebLinkAboutKIN 95 043 Scottish Loan Agree
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THE CORPORATION OF THE TOWN OF KI NCARDINE
BY-LAW
BY-LAW NO. 1995 - 43
A BY-LAW TO AUTHORIZE THE SIGNING OF A LOAN AGREEMENT WITH THE
KINCARDINE SCOTTISH PIPE BAND.
WHEREAS the Council for The Corporation of the Town of
Kincardine deems it advisable to enter into a loan agreement in
the amount of $10,000.00 with the Kincardine Scottish Pipe Band
in order to assist the band in the purchase of equipment.
NOW THEREFORE the Council for The Corporation of the Town
of Kincardine ENACTS as follows:
1. That The Corporation of the Town of Kincardine enter into
an agreement with the Kincardine Scottish Pipe Band to
provide for a $10,000.00 loan to enable the Band to
purchase equipment.
2. That the mayor and clerk be authorized to sign, on behalf
of The Corporation of the Town of Kincardine, the
agreement with the Kincardine Scottish Pipe Band which is
attached to this by-law and to affix the Town's Corporate
seal as and when required.
This by-law shall come into full force and effect upon
its final passage.
3.
4.
This by-law may be cited as the "Kincardine Scottish Loan
Agreement By-law".
READ a FIRST and SECOND time this 20th day of July, 1995.
READ a THIRD time and FINALLY PASSED this 3rd day of August,
1995.
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This AGREEMENT made this 20th day of July, 1995.
BETWEEN :
THE CORPORATION OF THE TOWN OF KINCARDINE
hereinafter called the "Town"
of the First Part,
-and-
KINCARDINE SCOTTISH PIPE BAND
herinafter called the "BAND"
of the Second Part.
WHEREAS
purchase
thousand
the Band requires funds to assist in the
of equipment for the Band in the amount of ten
($10,000.00) dollars;
AND WHEREAS these funds are to be advanced by the Town and
repaid from the annual payment to the Band from the Town;
NOW THEREFORE THIS AGREEMENT WITNESSETH THAT in considera-
tion of other good and valuable consideration and the sum
of TWO DOLLARS ($2.00) of lawful money of Canada, now paid
by each of the two parties hereto, (the receipt whereof is
hereby acknowledged) the parties hereto covenant, promise
and agree with each other as follows:
1. The Town agrees to loan to the Band the sum of ten
thousand dollars ($10,000.00) to assist the Band in
its purchase of equipment.
2. The Band agrees to repay these funds to the Town by
way of the Town deducting two thousand dollars
($2,000.00) per year, commencing in 1996, from the
annual Town payment to the Band, for the years 1996,
1997, 1998, 1999, and 2000.
3.
The Band may pre-pay and retire the debt at any time
prior to the expiration of the five-year period should
they wish to do so.
4. Should the Band cease to exist prior to the retirement
of the debt, the loan shall immediately become due and
payable in full.
5. The Band acknowledges that it has applied for an
unincorporated charitable organization status and that
it has complied, by virtue of its constitution, with
the requirements of that status.
6. This Agreement shall enure to the benefit of and be
binding on the respective heirs, executors,
administrators, successors and assigns of the parties
hereto.
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Kincardine Scottish Pipe Band
Loan Agreement
1995
IN WITNESS WHEREOF the Town has hereto affixed its
corporate seal attested by the hands of its mayor and clerk
this 20th day of July, 1995~_ The Band has hereunto
set its hand and seal this ~Jh day of ~~ ,1995.
SIGNED, SEALED AND DELIVERED )
in the presence of )
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) KINCARDINE SCOTTISH PIPE
) BAND
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THE CORPORATION OF 'fug TOWN
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Mayor - Char es.<..-~anp /~.
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Clerk - Maureen A. Couture
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PROVINCIAL-MUNICIPAL INFRASTRUCTURE AMENDING AGIlF.F.MENT
THIS AMENDING AGREEMENT made this 20th day of July, 1995.
BETWEEN:
HER MAJESTY THE QUEEN, in right of the
Province of Ontario as represented by the
Minister of Municipal Affairs
referred to below as the "Province",
AND:
THE CORPORATION OF THE TOWN OF KINCARDINE
referred to below as the "Municipality",
WHEREAS on June 15, 1994 the Province and the
Municipality entered into a Provincial Municipal
Infrastructure Agreement (referred to as the "Agreement" ) ;
AND WHEREAS the Province and the Municipality have
agreed that the Agreement should be amended in accordance
with the terms set out in this Amending Agreement;
AND WHEREAS the Municipality has by By-Law ~.
dated -3'~.,. '2..ö , 1995 and appended hereto as Schedule "A"
authorized the Mayor, Reeve, Warden or Chair and the Clerk to
enter into this Amending Agreement on behalf of the
Municipality;
THEREFORE the Province and the Municipality agree
as follows:
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Adding new projects use the following:
1. Schedule "C" of the agreement is amended by adding to it
the following Projects which will form part of Schedule "C"
of the Agreement:
1. Installation of traffic lights on Durham/Queen Street,
M4140204.
2. The terms and conditions of the Agreement continue to
· apply, except to the extent which Schedule "C" is amended by
this Amending Agreement.
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IN ~SS ~OF this agreement has been executed on
behalf of the Province by the Minister of Municipal Affairs,
and on behalf of the Municipality by the Mayor, Reeve,
Warden, or Chair and the Clerk.
GOVERNMENT 0 THE PROVINCE OF ONTARIO ~ /J
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~ /' and Housing
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THE CORPORATION OF THE TOWN OF KINCARDINE
QÇJ,~\.-n\A'
. . '0 '.>, W1.tness Mayo Reeve a en air
:-:':::'::'::'~::?';"'" Charles H. Mann
. ::..':; .'~' Jtíly Ž8-ft995
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Juy 28, 1995
Date
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SCHEDULE ' 'C' ,
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1. MUNICIPALITY:
TOWN OF
KINCARDINE
2. PROJECT NAME:
INSTALLATION OF TRAFFIC LIGHTS ON DURHAM/QUEEN STREET
3. PROJECT NUMBER:
M4140204
4. LOCATION OF PROJECT:
DURHAM/QUEEN STREET INTERSECTION
5. ELIGIBLE PROJECT COSTS:
$70,000.00
As approved and set out in the attached
Project Expenditure Schedule.
6. PROJECT START DATE:
1995/08/01
7. PROJECT COMPLETION DATE:
1995/10/01
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