HomeMy WebLinkAboutKIN 88 016 Shoreline Loan
THE CORPORATION OF THE TOWN OF KINCARDINE
BY~LAWcNO. 1988-16
A BY-LAW IMPOSING SPECIAL ANNUAL RATES UPON LAND
IN RESPECT OF WHICH MONEY IS BORROWED UNDER THE
SHORELINE PROPERTY ASSISTANCE ACT, 1973
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WHEREAS owners of land in the municipality have applied
to the Council of The Corporation of the Town of Kincardine
under The Shoreline Property Assistance Act, 1973, for loans for
the purpose of constructing works or making building repairs on
such land;
AND WHEREAS the Council has upon their application lent
the owners the total sum of $1,800.00 to be repaid with interest
by means of rates hereinafter imposed:
NOW THEREFORE the Council for The Corporation of the
Town of Kincardine, pursuant to The Shoreline Property Assistance
Act, 1973, ENACTS as follows:
1. The annual rates as set out in the Schedule attached
hereto are, subject to the provisions of this by-law,
hereby imposed upon such land as described for such
period as is prescribed by the regulations under the
Act, such rates to be levied and collected in the
same manner as taxes;
2. Where an owner obtains a discharge of indebtedness
pursuant to section 11 of the said Act in respect of
land described in the attached Schedule;
(a) No annual rate shall thereafter be imposed upon
such land; and
(b) the attached Schedule may be amended from time
to time by deleting the entries relating to
such land;
3. A certified true copy of this by-law shall be
registered in the Land Registry Office.
READ a FIRST and SECOND time this 17th day of March, 1988.
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READ a THIRD time and FINALLY PASSED this 17th day _o~_~Tch~ 1988.
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Annual Rate
to be Imposed
$ 268.25
$ 268.25
Sum to be
Loaned L
$1,800.00
$1. 800.00
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THE CORPORATION OF THE TOWN OF KINCARDINE
BY-LAW NO. 1988-16
SCHEDULE A
Proposed Date
Name and Address of Owner Description of Land of Loan
Cora Patricia Hoffman Lot 24 Plan 347 April 1, 1988
Totals
Shoreline Property Assistance Act
Debenture Schedule - #3
Hoffman - 298 Goderich St.
By-law No. 1988-16
. Schedule A - Page 2
Price Interest Total
April 01
Year 1 1989 $124.25 $144.00 $268.25
2 1990 134.19 134.06 268.25
3 1991 144.93 123.32 268.25
4 1992 156.52 111.73 268.25
5 1993 169.04 99.21 268.25
6 1994 182.56 85.69 268.25
7 1995 197.17 71.08 268.25
8 1996 212.94 55.31 268.25
9 1997 229.98 38.27 268.25
10 1998 248.42 19.83 268.25
$1800.00 $882.50 $2682.50
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