HomeMy WebLinkAboutKIN 80 4314 Borrow - BIA
THE CORPORATION OF THE TOWN OF KINCARDINE
BY-LAW NO. 4314
A BY-LAW TO AUTHORIZE THE BORROWING OF $100,000. from the Treasurer
of the Province of Ontario for the improvement, beautification and
maintenance of municipally owned real property in the Business
Improvement Area of the Corporation of the Town of Kincardine.
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WHEREAS, the Board of Management of the Business Improvement Area
of the Corporation of the Town of Kincardine has applied to the
Council of the Corporation of the Town of Kincardine for approval of
a loan from the Provincial Treasurer in the amount of $100,000.00.
AND WHEREAS the Council of the Corporation of the Town of Kincardine
deem it expedient to grant approval of the said application.
THEREFORE, the Council of the Corporation of the Town of Kincardine
enacts as follows:
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1. THAT a loan from the Treasurer of the Province of Ontario through
an agreement made with the Minister of Housing for the Province
of Ontario in the capital sum of $100,000.00 be authorized.
2. THAT the said loan shall be subject to the terms and conditions
of an agreement entered into between the Board of Management of
the Business Improvement Area of the Corporation of the Town
of Kincardine, the Council of the Corporation of the Town of
Kincardine and the Minister of Housing of the Province of Ontario,
pursuant to Section 361(20) of The Municipal Act.
3. THAT the loan aforesaid shall be repaid to the Province of Ontario
during a period of ten years commencing in the year 1991 by a
levy on all business taxpayers in the Business Improvement Area
of the Corporation of the Town of Kincardine.
READ a FIRST and SECOND time this 19th day of September 1990.
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READ a THIRD TIME and FINALLY PASSED this 2p,.th day of Novemb~, 1990.
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M¡tyor
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Ontario
Form E-15
The Clerk,
Town of Kincardine,
Box 329, ~'-~Ci"'I-Ç!-~' ,
KINCARDINE, Ontario. '\ 0-- I~,:- ,;,
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Dear S~r:
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Ontario
Municipal
Board
416/865-1907
180 Dundas 51. West
Toronto, Ontario
M5G 1E5
Quote File Number
E 801523
5, 1980
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Enclosed is documentation as follows:
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NOV :,¡ 0 19001
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Board's order dated November 3, 1980
Invoice(s) for Board's order
[J Board's order dated
Validation of By-law
Municipality:
School Board:
Yours truly,
SC:dw
Enclosure
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4"t M.S. Manji
/ Head of
~I Capital Expenditures
NB
If you are going to apply for the validation of
a debenture by-law for the issuance of debentures
for this undertaking, it is suggested that a draft
by-law be submitted to the Board by you for
consideration prior to its enactment.
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BEFOREI
E 801523
Ontario Municipal Board
1M '1'BB HA'1"1'B1I. OF S.oUon 64 of
The Onuxio MwUCiñt Board Act.,
"CR.S.O. 1'70, c. 3
-and-
IN TIlE MA'l"fER 01' an .pplic.t.ion
by The COrpor.Uon of t.b. Town
of Kinoardin. for an order
.pprOV'ingl
C.) the und.rt.aking of . proj.ct.
und.r the Main Strut.
ReVit.ali..t.ion Proqram .t. an
.st.imated cost. of $100,000.00
and the borrowing of money by
way of t.emporary advanc.. DOt.
exoeeding in t.be .ggreg.te
$100,000.00 pending t.b. rec.ipt
of t.b. moni.s under al.u.. Cb)
Cb) t.b. .nt.ering by t.b. .pplicant.
corpor.Uon in~ .n .CJX'....nt
wit.b Her Maj.st.y the Qu.en in
right of Onuxio .s r.pr...nt.ed
by t.b. Minister of Housing in
accordanc. wit.b t.b. draft.
.gr....nt. filad wit.b t.be Board
on the 24t.b day of Oot:ober, 15180,
and id.nUfied by the Secretary's
dc¡nat.ur. for t.be provision of
. loan of $100,000.00 for t.be
construction of the ..id work.
r.payabl. over . t..rm of t..n
years by . levy upon persons
......ad for busin... .....8m8nt.
.stablished by By-law No. 4241
under SeoUOD 361Cl) of The
MUnioipal Act., R.S.O. 1'70,
.. llllended
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A. J. L. CBAPHAlf, a.c.,
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-and-
Monday, the 3rd day of
November, 1980
T. F. BA1NBS, a.C.,
Mellber
'1'BB BOARD ORDBRS that. t.bb .ppliO.UOD be c¡rant.ed and that.
t.b. .pplioant III&Y proaeed wit.b the und.rt.akinq of t.be Main
Street Revita1izat.ioD proqram MOre particularly d.scribed in
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B 801523
By-law No. 4241 and _y pass all requiai~e by-laws ino1wUng
. by-law authorizing the borrowing of $100,000.00 on loan
over a term no~ exoeeding 1:en years frOll Her Hajes~y the
Queen in rigb~ of Onurio as repreH11~ by the MiDister of
Housing for the Provinoe of Ont:arl0.
_( UCUDKI
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ENTERED
o. B. No.. ß¡:r:?,- tj
Folio No....ti1.i!.~:;.;.:....·..·..
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SECIÐAn. GltTAIfD IlUNtClPAl ~f!
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