HomeMy WebLinkAboutTWP 91 038 Agree - B.M.T.S.
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THE CORPORATION OF THE TOWNSHIP OF KINCARDINE
BY-LAW I 91-38
BEING A BY-LAW to authorize the execution of an
agreement with Bruce Township in its capacity as Trustee of the
assets of the Bruce Municipal Telephone System ("BMTS") and Bruce
Township, in its own capacity with respect to the conversion of
the BMTS into a public utility (the "Conversion").
WHEREAS the Corporation of the Township of Kincardine
wishes to assent to the proposed distribution of the proceeds of
the Conversion upon and subject to the terms and conditions
contained in the conversion Price Payment and Assignment of the
appropriate regulatory approvals and the closing of the
transactions contemplated by the Conversion.
AND WHEREAS, the Corporation of the Township of
Kincardine agrees to the percentage entitlement set out in
Schedule "A" to the Agreement, for execution on behalf of the
Corporation of the Township of Kincardine evidencing the
municipality's assent to the terms and conditions of the
Agreement.
NOW THEREFORE, the Council of the Corporation of the
Township of Kincardine ENACTS AS FOLLOWS:
THAT the Corporation of the Township of Kincardine
enter into the Agreement; and
THAT the Deputy-Reeve and Clerk be and are hereby
authorized to execute the Agreement and to affix thereto the
Corporation Seal of the Township of Kincardine.
Time and
day of
By-Law introduced and read a First, Second and Third
finally passed, Signed, Sealed and Numbered this ~~
OðmßE~ ,1991.
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