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BY-LAW NUMBER 2927 <br /> <br /> A BY-LAW TO AUTHORIZE A GRANT IN AID TO THE <br />LEAMINGTON DISTRICT MEMORIAL HOSPITAL IN THE <br />AMOUNT OF $250,000 FOR THE ACQUISITION OF NEW <br />EQUIPMENT <br /> <br /> WHEREAS Sub-section 1 of Section 113 of the Municipal Act, ILS.O. 1990, <br />Chapter M.45 and amendments thereto, authorizes Councils of ail municipalities <br />to pass by-laws for granting aid in the best interest of the municipality, <br /> <br /> AND WHEREAS, it is deemed beneficial to the municipality to grant to the <br />Leamington District Memorial Hospitai in the Town of Leamington the sum of <br />$250,000 for the acquisition of new equipment. <br /> <br /> AND WHEREAS it is deemed expedient to make the principal of the said <br />grant payable in five (5) annual instalments, without interest, payable annually <br />in the amounts per annum shown in Schedule "A" attached to this by-law, <br /> <br /> NOW THEREFORE the Council of the Corporation of the County of Essex <br />enacts as follows: <br /> <br /> 1. For the purpose aforesaid the Council of the Corporation of the County <br />of Essex shail grant the Leamington District Memorial Hospital in the Town of <br />Leamington the sum of $250,000. <br /> <br /> 2. The $250,000 grant shall be made payable in five (5) annual instalments <br />on the 31st day of January, in each of the years 1993 to 1997 inclusive, and the <br />respective amount of principal payable in each of the said years shail be the <br />amount so designated in Schedule "A" at~ached to and forming part of this by- <br />law. <br /> <br /> 3. Commencing in the year 1993 and thereafter in each year in which an <br />instalment of principal of the said grant becomes due, the Corporation shall levy <br />and raise the specific sum shown for the respective year in the said Schedule "A". <br />Such sum shall be levied and raised by a special rate sufficient therefore over <br />and above all other rates upon the full value of ail the rateable property in the <br />municipality and no fixed assessment of partial or total exemption from <br />assessment or taxation shail apply thereto except as provided in The Assessment <br />Act. <br /> <br /> 4. This by-law shall come into force and take effect after it has received <br />the approval of the Ontario Munidpal Board. <br /> <br /> <br />