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HomeMy WebLinkAboutBy-law No. 2006-072 THE CORPORATION OF THE MUNICIPALITY OF BAYHAM BY-LAW NO. 2006-072 A PROVISIONAL BY-LAW TO PROVIDE FOR DRAINAGE WORKS IN THE MUNICIPALITY OF BAYHAM IN THE COUNTY OF ELGIN known as the PETERS MUNICIPAL DRAIN 2006 EXTENSION WHEREAS the requisite number of owners have petitioned the Council of the Municipality of Bayham in the County of Elgin in accordance with the Sections #4 of the Drainage Act, R.S.O. 1990, requesting that the following lands and roads be drained by drainage works: • Lot 5, Concession 8, in the Municipality of Bayham, in the County of Elgin. AND WHEREAS, the Council of the Municipality of Bayham has procured Engineer Report #205324, prepared by Spriet Associates, dated June 9, 2006, which is attached hereto as Schedule "A", and forms part of this By-Law. AND WHEREAS the estimated total cost of constructing the drainage work extension is $22,300.00, and is to be paid directly to the contractor by the affected landowners J. L. Magyar and M. Magyar (Assessment Roll #34-01-000-005-01800) as the sub-dividers of the proposed lots for which drainage is required. AND WHEREAS $0.00 is the amount to be contributed by the Municipality of Bayham for administration costs/roads assessment associated with the construction of the drainage works known as the Peters Municipal Drain, 2006 Extension. AND WHEREAS the Council is of the opinion that the drainage of the area is desirable. NOW THEREFORE the Council of the Municipality of Bayham enacts as follows: 1. Engineer Report No. 205324, dated June 9, 2006 and attached hereto, is hereby adopted and the drainage works as therein indicated and set forth are hereby authorized and shall be completed in accordance therewith. 2. The Corporation of the Municipality of Bayham may borrow, on the credit of the Corporation, the amount of$22,300.00, being the amount necessary for the construction of the drainage works. 3. The Corporation may arrange for the issue of debentures on its behalf for the amount borrowed less the total amount of, (a) grants received under Section#85 of the Act; (b) commuted payments made in respect of lands and roads assessed within the municipality; (c) monies paid under Subsection#61(3) of the Act; and (d) monies assessed in and payable by another municipality, and such debentures shall be made payable within five (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. 4. A special equal rate sufficient to redeem the principal and interest on the debentures shall be levied upon the lands and roads as set forth in the attached Schedule "A" to be By-law No. 2006-072 - 2 - August 17, 2006 collected in the same manner and at the same time as other taxes are collected in each year for five (5) years after the passing of this by-law. 5. For paying the amount of $22,300.00 being the amount assessed upon the lands and roads belonging to or controlled by the municipality, a special rate sufficient to pay the amount assessed plus interest thereon shall be levied upon the whole rateable property in the Municipality of Bayham in each year for five (5) years after the passing of this Provisional By-law to be collected in the same manner and at the same time as other taxes are collected. 6. All assessments of$150.00 or less are payable in the first year in which the assessment is imposed. 7. This By-law comes into force and effect on the passing thereof and may be cited as the "Peters Municipal Drain, 2006 Extension ". READ A FIRST AND SECOND TIME this 17th day of August 2006. PROVISIONALY ADOPTED this 17th day of August 2006. A k A ;;:r IA\r oge,ozj MA taz CLERK READ A THIRD TIME AND FINALLY PASSED this / • 1- day of August, 2006. A AL - 1;7r) tleaL-19 MA" • CLERK