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HomeMy WebLinkAboutBy-law No. 1999-054 CORPORATION OF THE MUNICIPALITY OF BAYHAM BY-LAW NO. 99-54 A BY-LAW TO AMEND BY-LAW 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 on May 20, 1999 the Council of the Municipality did pass By-law 99-31 to acquire real property previously described; AND WHEREAS the Council of the Municipality of Bayham deems it necessary to amend By-law 99-31 NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE MUNICPALTTY OF BAYHAM HEREBY ENACTS THAT BY-LAW 99-31 BE AMENDED AS FOLLOWS: 1. Section 3 Paragraph(b)be amended to read as follows: A payment shall be made each year on the 31'day of July to redeem principal and interest as set forth in the attached Schedule "B"; 2. THAT Schedule "B" to By-law 99-31 be deleted and replaced by Schedule "B", attached hereto and forming part of this by-law; 3. AND THAT in all other respects By-law 99-31 be and is hereby confirmed. READ A FIRST, SECOND AND THIRD TIME AND FINALLY PASSED this 27th day of July,1999. MA OR CLERK Municipality of Bayham By-Law #99-31 Schedule "B" Debenture Bayham Health Care Facility Loan Issue Date: July 31, 1999 Interest Rate: 6.5% Date Payment Interest Principal Balance 31.Ju1.99 $97,000.00 31.Ju1.00 $23,341.55 $6,305.00 $17,036.55 $79,963.45 31.Jul.01 $23,341.55 $5,197.62 $18,143.93 $61,819.52 31.Jul.02 $23,341.55 $4,018.27 $19,323.28 $42,496.24 31.Jul.03 $23,341.55 $2,762.26 $20,579.29 $21,916.95 31.1111.04 $23,341.55 $1,424.60 $21,916.95 $0.00 debent 07.22.99