1993-064 Oro
THE CORPORATION OF THE TOWNSHIP OF ORO
BY-LAW NO. 93- 64
Being a By-law to Authorize the Paving of the Reconstructed
7th Line Concession Road, Oro Township at an Estimated Cost
of $750,000.00.
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WHEREAS the Municipal Act, R.S.O. 1990, c.MA5, s.21O, para. 143 provides that councils
of local municipalities may pass By-laws regulating the operation of pits and quarries within
the municipality and requiring the owners to level and grade certain roads as are specified
by by-law;
AND WHEREAS the Corporation of the Township of Oro enacted By-law No. 91-94 on
December 9, 1991 authorizing the execution of an Agreement respecting the reconstruction
of the 7th Line Concession Road and the paving of same;
AND WHEREAS the Council of the Corporation of the Township of Oro deems it
desirable to pave the 7th Line Concession Road and finance such work in accordance with
the Agreement authorized by By-law No. 91-94;
750,000.00
AND WHEREAS of the total estimated cost of $750,000.00, the sum of $------ will be raised
by the issue and sale of debentures repayable over a period of twenty (20) years;
NOW THEREFORE the Council of the Corporation of the Township of Oro hereby enacts
as follows;
1. The Reeve and Clerk are hereby authorized to enter into a contract or contracts for
the paving of the 7th Line Concession Road from Highway No. 11 north to the northern
limit of Lot 7, Concession VIII, Township of Oro, subject to the approval of Council to be
declared by resolution.
2. The total estimated cost of the said work is $750,000.00 of which $2~~~_0?sOtgobe
debentured over a period of twenty (20) years repayable by the recovery of an amount equal
to ten (10) cents per tonne for all aggregate extracted, all as more particularly provided for
in the Agreement authorized by By-law No. 91-94.
3. Pending receipt of the said moneys by way of the issue and sale of debentures, The
Toronto Dominion Bank or any other bank or person upon the credit of the Corporation
at large by way of temporary advances to meet the expenditures authorized by this By-law
such sum or ~~ws as IT).'i}J' be required for that purpose but not exceeding in the aggregate
the sum of $------:q~<2t.tfYe Reeve and Clerk are hereby authorized to sign and deliver to the
Toronto Dominion Bank or any other bank or person such promissory note or notes as may
be required from time to time at such rate of interest as may be agreed upon with the said
bank and to affix to such promissory note or notes the seal of the Corporation of the
Township of Oro.
4. No part of this By-law shall come into force or take effect until it has received the
approval of the Ontario Municipal Board.
READ a first and second time thislstday of September, 1993.
READ a third time and finally passed thislst day of September, 1993
THE CORPORATION OF THE TOWNSHIP OF ORO
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