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1982-009 MedonteTIIE� CORPORATION OF THE TOWNSHIP OF MEDONTF, BY-LAW NUMBER A By-law to authorize the borrowing of $91,290.58 upon debentures towards the cost of construction of certain watermains and modifications to Booster Pumping Station under the Local Improvement Act. WHEREAS by By-law Number the Council of The Corporation of the Township of Medonto authorized the construction of: WATERMAINS on: 1. COUNTY ROAD NO. 22 from approximately 42 metres east of Horseshoe Boulevard to Pine Ridqe Trail. 2. PINE RIDGE TRAIL from Horseshoe Valley Booster Station to approximately 280 metres North of Pine Springs 3. EASEMENT from Horseshoe Valley Booster Station to PinePoint 4. PINE POINT from Cul-de-sac to the Cathedra l- P-17-6 6�T, -,-- 5. 'J'HE CATHEDRAL PINES (north log) from Pine Point 6. EASEMENT from The Cathedral Pines (north 109) to The Cathedral Pines (south 100 Modifications to Booster Pumping Station consisting of: 7. an addition of 60 HP fire pump capable of pumping at a rate of 30.3 litres per second at a T.D.H. of 91.5 metres, interconnectiny pipinq, associated equipment and appurtenances including emergency standby power diesel generator set AND WHEREAS for the purposes aforesaid it is now expedient to issue debentures in the amount of $91,290.58 payabl(:b in lawful money of Canada on the terms horeinaFter set Krkh; NOW THEREFORE THE COUNCIL, OF THE CORPORATION OF THE TOWNSHIP OF MEOONTE ENACTS AS FOLLOWS: 1. For the purposes aforesaid, there shall be borrowed upon the credit of the Corporation at large the sum of $91,290.58 in lawful money of Canada, and the Corporation shall issue debentures therefor in denominations of not less than $50 each. 2. The debentures shall be dated the 15th day of November, 1981, shall be issued at one time and shall be payable in five annual instalments of principal on the 15th day of November in each of the years 1982 to 1986, both inclusive, and shall bear interest at the rate Of 17% per annum payable semi-annually. The debentures shall have coupons attached for the paymont of snU interest on May 19 and November 15 in each -par. The rpgpocLive amounts of principal and interest payable in each year of such years shall be as sot forth in Schedule "A" hereto annexed and forming part of this by-law. 2 3. The debentures shall be payable as to both principal and interest in lawful money of Canada at The Toronto -Dominion Bank in the Village of Coldwater, Ontario or at the principal office of the said Bank in cit:her of the citici of Toronto or Montreal, at the holder's option. 9. The debentures shall be sealed with the seal of the Corporation and signed by the head of the Council or by some other person authorized by by-law to sign them and by the Treasurer, and the interest coupons attached thereto shall be signed by the Treasurer. The sialnature of the head of the CrnrrsciI to the tiviu-nl nrr an(l f-he signal--ul-o of I lir 11'rnasnrer sir l ht' +1sLG:rr�I; uloupItin neay lit, we- If t J.on or onciravoil, t itline 1ralsht41, lrrinl tal nr otherwise mcchanicaLly reproduced. 5. (a) Commencing in the year 1932 and thereafter during the currency of the said debentures, there shall be levied and raised in each year in which an instalment of principal and interest becomes due, by a special rate on all the rateable property in the municipality, the amount set out in Schedule "A" hereto in respect of such year, but no greater rate shall be levied in any year for such purpose than is required to pay the instalment as aforesaid after taking into account receipts of special rates provided in clause (b) hereof; (b) for the payment of the owners' l:,ortion of the cost and interest thereon the special assessments set forth in the special assessment roll therefor are hereby imposed upon the lands liable therefor as therein set forth, which special assessments with a sum sufficient to cover interest thereon at the rate aforesaid shall be payable in equal annual instalments, and for that purpose the special annual rate per foot frontage set forth —in the -said special assessment ro11.-for_the said_works-is hereby . imposed on each lot entered in the special assessment roll, according to the assessed frontage thereof", over and above all othcr rates and taxes, and the special rate shall be collected annually by the collector of taxes for the Corporation at the same time and in the same manner as other rates. 6. The debentures may contain any provision for their registration authorized by law. 7. 'pending the sale of the said debentures, the head of the Council and the Treasurer may raise for the purposes afore Raid by way of loan on such debentures any sum or suns of money not excecdin7 in all the suss hereby authorized to he borrowed and may hypothecate such debentures for such loan. REAR A FIRST, SECOND AND THTRD time and finally PASSED this r",'; day of l..h,�,r,.'i 1d , 1902. a �]7s;�"• � '� Reeve �vrJr�SIHP �! T�8©ti+YE �D � `7� 9 �7sF� / �A+euf) 198 11 {�lalu,sig; a e! f•_ • I ei r 0 C erk IN THE MATTER OF an issue of debentures of The Corporation of the Township of Medonte in the amount of $91,290.58 authorized by debenture By-law Number 1, GARY CUnNINGTON, of the Township of Medonte, in the Province of Ontario, do solemnly declare that: 1.. I am Clerk of The Corporation of the Township of Medonte ("the said Corporation") and as such have a personal knowledge of the matters herein declared to. 2. The above-liwntioned by-law ("k}eI %aid fly-iaw"j wary Finally massed and enacted },y the Counc#.1 of the said Corporation on the t 1 ^ f• day of };•' r+ , 1982. Par with a -ter passage of the said By-law the same was signed by the*Yke and by myself as Clerk and was sealed with the corporate seal. 3. Prior to the passage of the said By-law, the Ontario Municipal Board by i_s Orders dated October 9, 1980 and September 4, 1981 under its file number r80700 duly approved the purpose of the borrowing referred to in the said By-law as renuired by Section 54 of the Ontario Municipal Board Act. The said Orders have not been appealed or rescinded. 4. No application has been made or action brought to quash, set aside or declare invalid the said By-law nor hue the same been in any way repealed, altered or amended and thi, sumid ny-law is now in full force and effect. 5. The recitals contained in the said By-law are true in - --- substance -and fact. - -- - -.. --- - -- — 6. None of the debentures authorized to be issued by the said. Order have been issued except debentures of $91,290.50 which have been issued to The Toronto -Dominion Bank. 7. The amount debentured in respect of the undertakings described in the said By-law does not exceed the net cost of the said undertakings to the said Corporation. S. The said Corporation, in exercising any of its powers approved, by the aforementioned Ontario Municipal Board Orders, complied with all statutory and other legal requirements related thereto. 9, All of the works mentioned in the said By-law have been previously approved by the Ministry of the Environment by its approval certificate number 7-0593-00-006, dated October 9, 19B0. The conditions set out therein with respect to the diesel generator Met for ewergency standby rawsr-are'w'rthtn tiro requirements deemed acceptable by the Ministry of. the Environment. 10. A }petition signed by sufficient number of property owners'as required by the Local Improvement Act and praying for the construction of the works mentioned in the said By-law was presented to the Council of the said corporation and lodged with the Clerk. The sufficiency of the said petition was enquired into and determined by the Clerk and the Clerk duly certified in writing to the sufficiency theretF. 11. The Council caused the necessary grar_ecdi.ngs to be taken and procured a report to be moan containing all 1+articulars - 2 - required by the Local Improvement Act in connection with the local improvement works mentioned in the clause: ]Q hereof. The said local improvement works have either been completed, or firm contracts have been entered into for the carrying out of the said. works, and the cost of completing the said works has been established, and construction of the said works has commenced. 12. The probable lifetime of the local improvement works described in the said By-law is at least five years, and the same has been duly certified by the EnUineer for the said Corporation. tp AND T MAKE this solemn declaration conncientiausly believing it to be true and knowing that it is of Lhe same force y and effect ae if made under oath and by virtue of the Canada _ Evidence Act, DECLARED BEFORE ME at the Township ) of Mcdonte°, in the Province of Ontario this !: day of 19B2. i A Commissioner for Oaths, etc. { i } { I I