HomeMy WebLinkAbout07 336 December 2007 Tile Drain Loan Debenture
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T]]E CORPORATION OF T]]E \JL;,\]C1P'\]]TY or K]NCARDI;';E
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NO. 2007-336
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 $44,200_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 foilows:
1_ That annual rates as set out in the Schedule 'A' attached hereto are hereby
imposed upon such land as described fora period often years, such rates to
be levied and collected in the same manner as taxes.
2. This By-Law shali come into fuil force and effect upon its final passage,
3. This By-Law may be cited as the "December 2007 Tile Drain Loan Debenture
By-Iaw"_
READ a FIRST and SECOND time this 7'" day of November 2007.
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READ a THIRD time7nd INALL Y PASSED this 7'h day of November 2007
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- ,--- I Mayor
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Clerk'
The Corporation of the Municipality of Kincardine
SCHEDULE 'A' to By-law Number _'2 c,,_'-:] 3'::,(('
Proposed date Sum to be loaned Annual rate
Name and address of owner Description of land drained 01 loan $ to be imposed
$
Lot t5,Concession 12 Bruce, exceptPt9
James Elmer Irwin-and. Candace Lyn Irwin (<1,,~~,~~:palitY oj Kincardine ~<,l December 1, 2007 $6,200.00 $842,38
eo r hlcTownshi of Bruce
PtLot2.6,ConcessioniO
Robert Dufton MuncipalityofKinoardine "<,) Deoomber 1, 2007 $38,000.00 $5,162,g8
(neDnra~hicTownshi~of Kincardine
'Total principat of debenture and total sum sho\\'non by-law TOTAL 844,200.00
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TO Till IRtoA~URFR 0:= ONTARIO
tho ~unicipalitj
Tho Corporation ~t',
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Kincardine
l1ereby oilers to ~CII Llcbe.ltu,-e No 200.7----=-12....... ill thq rrinei,'.;~1 "mOllT.' ot' $ ___$44, ,200 00
1999-50
to the T"'35"re,' of Ort,nio de; "uthor..ze.j toy 801'1'011','''9 By-Isw No. -'-2007~'O(j3 e"tr'~ Curporst:cn
The pcinoipal 30101;:1; 01 eh's ,ie"~,'t"re is t"P aqgrcYclta 01' ;n,I,v,ou;': Iow'~ applied t'm and <ouch
loan is ne( more i',,,,, 75 par cent c': tlw COSe 0" Lt,e drain8gA work cordr~cted
An rnsrer.tor C" dr,-,ir"'~o, ~:llployed hI' F,e Cuc"oration, h3S :%P~GtCD aach clr~inage '....ark lor
whic'! the Carpcratio~ '.'.'illl~nd the. prG~oGds of tlis (Ie~enturc- and each 11,~s ~e<on completed in ~c~()rd""co
withtlletermsortl,elos"aPPCOV2 give:lbycoll.1Cil
A co",y of tile Inspedio" ,,,,d COrlrletioll Certificate. (Form 8 or e1le regulations under tl'lC Tile
DraillJqo Ad) ,'or Gaco d,-,,:n3ge work rur wl1ich tl,e CorporJ.tiu" will lelld :'he ,;rocc~us 0'.' this "ehenture is
attached!',Hetc,
_DDc.emhpr 1 2G07
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