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HomeMy WebLinkAboutTWP 86 027 Borrow-Shoreline Act ~ . . . . <- BORROWING BY-LAW OF THE CORPORATION OF THE TOWNSHIP OF KINCARDINE BY-LAW NO 86-27 A by-law to raise money to aid in the construction of works and building repairs under The Shoreline Property Assistance Act, 1973. The council, pursuant to The Shoreline Property Assistance Act, 1973, enacts as follows: 1. The Corporation may from time to time, subject to the provisions of this by-law, borrow on the credit of the Corporation such sums not exceeding in the aggregate $350,000.00 as may be determined by the council, and may in the manner hereinafter provided, issue debentures of the Corporation for the amount so borrowed as provided in the Act payable to the Treasurer of Ontario at the Parliament Buildings, Toronto, which debentures shall reserve the right to pay at any time, with or without giving notice or at such times and on such notice and in accordance with such terms and conditions as may be prescribed by regulatio~s made under the Act, the whole or any part of the amount then outstanding and to be relieved from liability to pay any interest on the amount so paid. other than accrued interest. 2. Where an application for a loan under the Act is approved by the Council and the inspector has filed with the clerk an inspection and completio~.certificate, the council may include a sum, not exceeding the amount applied for or such other maximum amount as is prescribed by the regulations under the Act, in a debenture payable to the Treasurer of Ontario in accordance with the Act, and may approve of the Corporation lending the said sum to the applicant. 3. A special annual rate shall be imposed, levied and collected over and above all other rates upon the land in respect of which the money is borrowed, sufficient for the payment of the principal and interest as provided by the Act. . Read a First and Second time the J~ Read a Third time the hv':' day of day of November, 1986. ~h........l-'A./, 19i..b g;~ Head of Council ~"/~,~~ . lerk-Treasu . . . . . . ~ ~~--- ]I 861202 ~ Ontario Ontario Municipal Board III TBB IIUHR (Ø ~1oD 64 of the OD~ti _1aml BoaJ:d AG1:, (R.8.0. 1 ëí, c. a. --nðed) -and- D HB ....ftIIR (Ø aD appl1aaUn by fte COZpont;1oD of the 'lovruIb1p of 1t1noarcu'D8 for aD order appJ:OV1D9 the bor:mw1D9 of $350,000.00 fJ:Olll the fte..uu of OD~1o 1:0 be uNd for the pazpo... of the Sborel1D8 .~~Y A..1,t:&DOt AG1:, (R.8.0. IJIO;O. ."~l a. ...........it BBrORB. D. W. JlIDDLB'IOII -'"bu ) ) ) ) ) » ) ft1day, the Ut:h day of .~h9~, 1'86 -&114- B. W. HoI.OVGBLDI ".,.MII: .,0 BOut) OlD... tbat. t:h1. appl1aat.1oD be graDUd and tbat; t.be applicaDt. _y boJ:J:OW IIOD8Y 1D a 1:Ot.al IIUII D01: to exoee4 $350,000.00, pJ:OV1ded tbat. 'the COUDc.1l of t.be applioaDt coJ:pOra1:1oD 1D uuo181D9 any powu' appJ:OVed by tb18 order 8ball comply and coafOD wi'th all .t.at.u1:Ory and ot.beJ: lagal requ1nmaDt.. lIalaUd t:haI:a1:O. '!~ -~---- / / /~ ~ . " , . . 1;4w- gt -37 Ontario . Ontario Municipal Board 416/598,2266 180 Dundas St. West Toronto, Ontario M5G 1E5 . REC~r'f""" November 10,1986 NOV 1 ¿ 1986 Miss Muriel P. Eskrick Clerk-Treasurer Township of Kincardine Box 14, R.R.5 KINCARDINE, Ontario N2Z 2X6 TWP. OF KINCAK LJ.. .. . Re: O.M.B. File: E861202 Shoreliné Assistancé Receipt is acknowledged of your letter and enclosures. When communicating with the Board in connection with this matter, please quote the above file number. Z¡~JJfÞ~ Michael Onorato Financial Analysis Section . . · · · 4 TIU'HONI ICIHCAItDINI ~ICIO · TOWNS~ OF ~CARDINE. OPflCI O. THIi CLIiIJ( . TIWUliI November 6, 1986. Ontario Municipal Board, 180 Dundas st. w. ·Toronto, Onto M5G lE5 Dear Sirs: Re: $350,000.00 Aid under The Shoreline Property Assistance Act Township of Kincardine The attached borrowing By-Law #82-27 of the Corporation of the Township of Kincardine, in the amount of three hundred and fifty thousand ($350,000.00) dollars, is hereby submitted to the Ontario Municipal Board for approval. Your consideration will be appreciated. Thank-you. sinCe'~E!1Y , TOWNSHIP OF KINCARDINE kru1~~ Muriel P. Eskrick Clerk-Treasurer MPE/ac Encl. ~ ,. UUICII eoAI. LL .. r..........D~ M2Z 2U