HomeMy WebLinkAboutBy-law No. 2003-092 CORPORATION OF THE
MUNICIPALITY OF BAYHAM
BY-LAW NO.2003-092
A BY-LAW TO AMEND BIL 2002-49
BEING A BY-LAW TO PROVIDE FOR DRAINAGE WORKS
IN THE MUNICIPALITY OF BAYHAM IN THE COUNTY OF
ELGIN (SPROUL EXTENSION&BRANCH "A")
WHEREAS the Council of the Municipality of Bayham did by By-law 2002-49 provide
for construction of drainage works on lands described as:
Part of Lots 1 to 4, Concessions 1 and 3, in the Municipality of
Bayham,in the County of Elgin.
AND WHEREAS, the Council of the Municipality of Bayham did on October 2, 2003 by By-law
2003-087 amend By-Law 2002-49;
AND WHEREAS the Council of the Municipality of Bayham deems it expedient to further amend
By-law 2002-49;
NOW THEREFORE the Council of the Municipality of Bayham enacts as follows:
1. THAT under Section 2.2 the following words be deleted:
"such debentures shall be made payable within 5 years from the date of the debenture
and shall bear interest at a rate not higher than the rate charged by The Ontario
Municipal Improvement Corporation on the date of sale of such debentures"
and replaced with
"such debentures shall be made payable within 5 years from the date of the debenture
and shall bear interest at a rate of five percent (5%) or at the cost to the Municipality
of Bayham to borrow, whichever is higher, on the date of sale of such debentures";
2. THAT all other terms and conditions of this by-law, as amended, remain in full force and
effect;
3. AND THAT this by-law comes into force on the passing thereof
READ A FIRST, SECOND AND THIRD TIME AND FINALLY PASSED THIS 16TH DAY
OF OCTOBER,2003