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THE CORPORATION OF THE TOWN OF KINCARDINE
BY-LAW
BY-LAW NO. 1994-84
BEING A BY-LAW TO PROVIDE FOR THE BORROWING OF FUNDS TO
FINANCE THE UNFINANCED LANDFILL SITE CAPITAL EXPENDITURES.
WHEREAS
Kincardine in
expedient to
basis;
the Council for The Corporation
accordance with the Municipal
borrow funds from its reserves
of the Town of
Act, deems it
on an interim
NOW THEREFORE the Council for the Corporation of the Town
of Kincardine ENACTS as follows:
1) That the current un financed landfill site capital
expenditures together with the balance of capital work
to be carried out in 1994 be financed by borrowing from
the capital expenditure reserve fund.
2) That this loan shall be repaid, together with interest
calculated at 6% per annum, from the 1995 capital
budget, financed by the 1995 Ontario Hydro Impact Grant
and, if necessary, a portion of the 1995 Bruce Municipal
Telephone System payment.
3) That this by-law shall come into full force and effect
upon the date of final passage.
4)
This by-law may be cited as the "Unfinanced Landfill
Capital Expenditure Borrowing By-law, December 1994".
READ a FIRST, SECOND and THIRD time and FINALLY PASSED this
15th day of December, 1994.
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