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By-law No. 2010-011 THE CORPORATION OF THE MUNICIPALITY OF BAYHAM BY-LAW NO. 2010-011 A PROVISIONAL BY-LAW TO PROVIDE FOR DRAINAGE WORKS IN THE MUNICIPALITY OF BAYHAM IN THE COUNTY OF ELGIN KNOWN AS THE SMITH DRAIN NO. 7 WHEREAS the Engineer Spriet Associates on behalf of the Municipality of Bayham in accordance with Section #78(1) of the Drainage Act, R.S.O. 1990, requests that the following lands and roads be drained by drainage works: • Part Lots 14- 16, Concession 11, Municipality of Bayham • Lot 15, Concession 12, Township of South-West Oxford AND WHEREAS, the Council of the Municipality of Bayham has procured Engineer Report No. 208347, prepared by Spriet Associates, dated December 29, 2009, 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 is $56,900.00; 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. 208347, dated December 29, 2009 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. 2.1 The Corporation of the Municipality of Bayham may borrow, on the credit of the Corporation, the amount of $56,900.00, being the amount necessary for construction of the drainage works. 2.2 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 anothermunicipality, and By-law No. 2010-011 2 - February 18, 2010 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 a chartered bank of Canada. 3. 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 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. 4. For paying the amount of $16,642.00 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. 5. All assessments of$250.00 or less are payable in the first year in which the assessment is imposed. 6. This By-law comes into force on the passing thereof and may be cited as the "Smith Drain- Branch No. 7. READ A FIRST AND SECOND TIME this 18th day of February 2010. Provisionally adopted this 18th day of February 2010. A /, L1 1 MAY! CLERK READ A THIRD TIME AND FINALLY PASSED this tot day of Qa 2010. d/f/kA.) %,-r.)1a-\05 /1,&--1 OR CLERK