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HomeMy WebLinkAboutTWP 91 038 Agree - B.M.T.S. . /'~ ~/I '. l' i. . i. t . 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. I I. ~~;f~~f~~T § ," ~ :ç:- ~.-- ~ \<~~;~~4L.~