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By-law No. 2007-005 THE CORPORATION OF THE MUNICIPALITY OF BAYHAM BY-LAW NO. 2007-005 A BY-LAW TO PROVIDE FOR AN INTERIM TAX LEVY WHEREAS Section 317 of The Municipal Act, 2001, Chapter 25, S.O. 2001, as amended, provides for an interim levy for 2007 on the assessment of property in the municipality rateable for local municipal purposes, subject to certain restrictions; AND WHEREAS the Council of the Corporation of the Municipality of Bayham deems it advisable and expedient that such a levy should be made; THEREFORE the Council of the Corporation of the Municipality of Bayham enacts as follows: 1. That for the year 2007, the interim tax levying amounts to be levied, raised and collected on all real property taxable within the residential, farmland, pipeline, multi-residential, commercial and industrial classes, and liable to pay the same according to the last revised assessment roll, shall be fifty(50) percent (%) of the total amount of annualised taxes for municipal and school purposes levied on the property for the previous year, that is for the year 2006. 2. The said interim tax levying amounts shall be due and payable in two instalments at the Municipality of Bayham Office at 9344 Plank Road, Straffordville, on or before the following dates: FIRST INSTALMENT February 23, 2007 SECOND INSTALMENT May 25,2007 Notice of such taxes due shall be sent by first class mail by the Tax Collector to those persons or firms liable for the payment of taxes. 5. That a charge as a penalty of one and one-quarter per cent on the amount of any outstanding taxes levied in 2007 shall be made on the first day of default and on the first day of each calendar month thereafter in which default continues, until December 31st 2007, and any such additional amount shall be levied and collected in the same manner as if it had been originally imposed with and formed part of such levy. 6. That interest of one and one-quarter per cent on the amount of any taxes due and unpaid after December 31, 2007, shall be charged on the first day of each calendar month thereafter in which the default continues. 7. That taxes may be levied, in accordance with the provisions of this by-law on the assessment of property that is added to the assessment roll after this by-law is passed. 8. That the provisions of the Municipal Act with respect to the levy of the yearly rates and the collection of taxes apply mutatis mutandis to the levy of rates and collection of taxes under this by-law. 9. That this by-law shall become effective as of the 1st day of January,2007. READ A FIRST AND SECOND TIME this 4th day of January 2007. READ A THIRD TIME AND FINALLY PASSED this 4th day of January 2007. A09111,)- 1 1 Ar . / :/A�Y / X Y� � C • sT