HomeMy WebLinkAbout08 195 January 2009 Tile Drain Loan Debenture By-Law
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THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
BY-LAW
NO. 2008 - 195
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 $22,100.00 to be repaid with interest by means of rates hereinafter
imposed;
NOW THEREFORE the Council of 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 "January 2009 Tile Drain Loan Debenture
By-law".
READ a FIRST and SE OND time this 1ih day of December 2008
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Clerk
INALLY PASSED this 1ih day of December 2008
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Clerk
The Corporation of the Municipality of Kincardine
SCHEDULE 'A'to By-law Number c2~- \9'5
Proposed date Sum to be loaned Annual rate
Name and address of owner Description of land drained of loan $ to be imposed
$
Ben & Katie Kuepfer Lot 20, Concession 1
1994 Bruce Road 15, RR 1 Tiverton, ON NOG 2TO (geographic Township of Bruce) January 1, 2009 $22,100.00 $3,002.68
. Total principal of debenture and total sum shown on by-law TOTAL $22,100.00