HomeMy WebLinkAboutBy-law No. 1999-031 CORPORATION OF THE
MUNICIPALITY OF BAYHAM
BY-LAW NO. 99-31
A BY-LAW TO AUTHORIZE THE PURCHASE OF REAL
PROPERTY COMPRISING PART BLOCK HAZEN AND
PART BLOCK MCNAUGHTON, PLAN 205, 9299 PLANK
ROAD (WEST SIDE), STRAFFORDVILLE, IN THE
MUNICIPALITY OF BAYHAM
WHEREAS Section 191 (1) of the Municipal Act, R.S.O. 1990 Chapter M.45 as amended
authorizes municipalities to pass by-laws for acquiring or expropriating any land required for the
purposes of the corporation, and for erecting and repairing buildings thereon, and for making
additions to or alterations of such buildings, and may sell or otherwise dispose of the same when no
longer required;
AND WHEREAS Section 207 (61) authorizes municipalties to pass by-laws for acquiring by
purchase or lease real property for the purpose of the corporation leasing such property to a legally
qualified medical or dental practitioner on such terms and conditions as the council may determine,
and such property may be so leased for residential, clinical or office purposes or a combination
thereof;
AND WHEREAS the Council of the Municipality of Bayham is desirous of acquiring real
property for the purpose of the corporation, and for leasing such property to a legally qualified
medical practitioner to be in the best interests of its ratepayers, for a sum of ninety-seven thousand
dollars ($97,000.00), plus legal fees and land transfer tax, property described as Part Block Hazen
and Part Block McNaughton, Plan 205, 9299 Plank Road (west side) in the Hamlet of
Straffordville,in the Municipality of Bayham,to close on May 31, 1999;
AND WHEREAS the Council of the Municipality of Bayham deems it necessary to approve the
aforesaid Agreement of Purchase and Sale and financing of such by by-law;
THEREFORE THE COUNCIL OF THE CORPORATION OF THE MUNICPALITY OF
BAYHAM ENACTS AS FOLLOWS:
1. THAT the Council of the Municipality of Bayham authorize the Mayor and
Administrator/Treasurer to execute such documents as may be necessary to provide for the
purchase of real property being Part Block Hazen and Part Block McNaughton, Plan 205,
9299 Plank Road (West side) in the Hamlet of Straffordville, in the Municipality of
Bayham,from Treva Smyth, POA Ross Hotchkiss or Roma Demeyere;
....12
By-law 99-31 Page 2
2. THAT the purchase price be ninety-seven thousand dollars ($97,000.00), plus legal fees
and land transfer tax,payable to the Vendor on May 31, 1999;
3. THAT The Corporation of the Municipality of Bayham may borrow, on the credit of the
Corporation, the amount of$ 97,000.00 being the amount offered for the purchase of the
said real property, by arranging for the issue of debentures on its behalf:
(a) Such debentures shall be made payable within five (5) years from the date of the
debenture and shall bear interest at a rate of 6.5 % per annum;
(b) A payment shall be made each year on the 31'day of May to redeem principal
and interest as set forth in the attached Schedule "B";
4. AND THAT the said Agreement of Purchase and Sale is attached hereto as Schedule "A"
and forms part of this By-law.
READ A FIRST AND SECOND TIME this 20th day of May, 1999.
READ A THIRD TIME AND FINALLY PASSED this 20th day of May, 1999.
•
Air ► .^ l
YO ' CLERKVim