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By-law No. 1998-023 CORPORATION OF THE MUNICIPALITY OF BAYHAM BY-LAW NO. 98-23 A BY-LAW TO AMEND BY-LAW NO. 98-14,BEING A BY-LAW TO PROVIDE FOR AN INTERIM TAX LEVY, FOR THE PAYMENT OF TAXES AND TO PROVIDE FOR PENALTY AND INTEREST OF 1.25 PERCENT. WHEREAS Section 370 (8) and (9) of The Municipal Act, Chapter M. 45, R.S.O. 1990, as amended by Bills 106, 149 and 164 provides that the Council of a local municipality may, in 1998 before the adoption of the estimate for the year, pass a by-law to levy on the whole of the assessment for real property according to the last revised assessment roll, a sum not to exceed that which would be produced by applying the prescribed percentage (or 50 percent if no percentage is otherwise prescribed) of the total 1997 mill rate to residential and farm assessment, and; WHEREAS Section 370 (8) and (9) of The Municipal Act, Chapter M. 45, R.S.O. 1990, as amended by Bills 106, 149 and 164 provides that the Council of a local municipality may, in 1998 before the adoption of the estimate for the year, pass a by-law to levy on the whole of the assessment for real property according to the last revised assessment roll, a sum not to exceed that which would be produced by applying the prescribed percentage (or 50 percent if no percentage is otherwise prescribed) of the notional mill rates that the municipality is required to calculate to commercial & industrial assessment and the assessment that relates to pipelines, railways, hydro corridors, airports and other such unique properties, and; WHEREAS Section 370 (8) and (9) of The Municipal Act, Chapter M. 45, R.S.O. 1990, as amended by Bills 106, 149 and 164, and Regulation 523/97 provides that the Council of a local municipality may, in 1998 before the adoption of the estimate for the year, pass a by-law to levy on the whole of the assessment for real property according to the last revised assessment roll, a sum not to exceed that which would be produced by applying the prescribed percentage of the 1997 mill rate to properties coded as either"FL", "MF"or"CL"; and WHEREAS the Council of the Corporation of the Municipality of Bayham at its meeting held on January 22, 1998 enacted and passed By-law 98-14 for the purposes stated above; and WHEREAS Council now deems it necessary to amend By-law 98-14. THEREFORE THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY OF BAYHAM HEREBY ENACTS AS FOLLOWS: 1. THAT Paragraph 2 i) be and is hereby amended by deleting the figure "262" in the first line and substituting the figure "195"therefore; 2. THAT Paragraph 2 ii) be and is hereby amended by deleting the figure "359" in the first line and substituting the figure "219"therefore; 3. THAT Paragraph 2 iii) be and is hereby amended by deleting the figure "306" in the first line and substituting the figure "185"therefore; 4. THAT in all other respects, By-law 98-14 be is hereby confirmed. READ A FIRST AND SECOND TIME thish day of February, 1998. c 16 READ A THIRD TIME AND FINALLY PASSED this 6 day of February, 1998. MAYOR CLERK