3247-96Borrow$CountyLandfills - Laserfiche WebLink

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CORPORATION OF THE COUNTY OF ESSEX BY-LAW NUMBER 3247-96 A BY-LAW TO AUTHORIZE THE BORROWING OF MONEY BY WAY OF TEMPORARY ADVANCES TO MEET EXPENDITURES MADE IN CONNECTION WITH THE ESSEX-WINDSOR REGIONAL LANDFILL. WHEREAS by By-law Number 3095, The Corporation of the County of Essex (hereinafter called the Municipality) adopted a Waste Management Plan entitled "County of Essex and City of Windsor Solid Waste Master Plan"; AND WHEREAS said Waste Management Plan identified a location in the Township of Colchester North as the preferred site for the Essex-Windsor Regional Landfill (hereinafter referred to as the Landfill); AND WHEREAS the Ministry of the Environment and Energy has provided Provisional Certificate of Approval No. A011101 approving the use and operation of a landfill site at the identified location in the Township of Colchester North; AND WHEREAS the capital cost of preparing the Landfill for acceptance of waste is currently estimated at $28,000,000.; AND WHEREAS certain sums have been expended with respect to the planning, design, approval and construction of the Landfill; THEREFORE, the Council of the Corporation of the County of Essex hereby enacts as follows; The Head and the Treasurer are hereby authorized on behalf of the Municipality to borrow by way of temporary advances from time to time from the Canadian Imperial Bank of Commerce ("CIBC') a sum or sums not exceeding in the aggregate $5,000,000 to meet expenditures made in connection with the Landfill and to give on behalf of the Municipality to CIBC a promissory note or notes sealed with the corporate seal and signed by the Head and Treasurer for the moneys so borrowed plus interest at such rate and for such term as may be agreed upon from time to time with CIBC; o All sums borrowed under this By-law, as well as all other sums borrowed in this year and in previous years from CIBC for any or all of the purposes mentioned in the Ontario Munidpal Act, plus interest, shall be a charge upon the whole of the revenues of the Municipality for the current year and for all preceding years as and when such revenues are received;