My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
52-2003Apply for OMEIFA Funding
COE-Web
>
PUBLIC DOCUMENTS
>
Council Services Documents
>
Bylaws
>
2003
>
52-2003Apply for OMEIFA Funding
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/26/2010 11:11:12 AM
Creation date
12/22/2003 2:34:59 PM
Metadata
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
7
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
THE CORPORATION OF THE COUNTY OF ESSEX <br />BY -LAW NUMBER 52 -2003 <br />A BY -LAW TO AUTHORIZE CERTAIN CAPITAL <br />WORKS OF THE CORPORATION OF THE <br />COUNTY OF ESSEX (THE "MUNICIPALITY "); TO <br />AUTHORIZE SUBMITTING AN APPLICATION TO <br />THE ONTARIO MUNICIPAL ECONOMIC <br />INFRASTRUCTURE FINANCING AUTHORITY <br />( "OMEIFA ") FOR FINANCING SUCH CAPITAL <br />WORKS AND TO AUTHORIZE LONG TERM <br />BORROWING FOR SUCH WORKS THROUGH THE <br />ISSUE OF DEBENTURES <br />WHEREAS the Municipal Act, 2001 (Ontario), as amended, (the <br />"Act ") provides that a municipal power shall be exercised by by -law unless the <br />municipality is specifically authorized to do otherwise; <br />AND WHEREAS it is now deemed to be expedient to authorize for <br />the municipal purposes of the Municipality the new capital works described in <br />column (2) of Schedule "A" (individually a "Project ", collectively the "Projects ") <br />attached hereto and forming part of this By -law ( "Schedule "A " ") in the amount of <br />the respective estimated expenditure set out in column (3) of Schedule "A ", subject <br />in each case to approval by OMEIFA of the financing for such Projects that will be <br />requested by the Municipality in the Application as hereinafter described; <br />AND WHEREAS in accordance with section 4 of Ontario Regulation <br />403/02, the Council of the Municipality has had its Treasurer update its most recent <br />annual debt and financial obligation limit received from the Ministry of Municipal <br />Affairs and Housing (as so updated, the "Updated Limit "), and, on the basis of the <br />authorized expenditure for each Project as set out in column (3) of Schedule "A' <br />( "Authorized Expenditure "), the Treasurer has calculated the estimated annual <br />amount payable in respect of each Project (collectively the "Project Limits ") and <br />has determined that the aggregate of the Project Limits would not exceed the <br />Updated Limit, and accordingly the approval of the Ontario Municipal Board under <br />the Ontario Municipal Board Act (Ontario), as amended, is not required before any <br />such Project is authorized by Council; <br />AND WHEREAS subsection 405(1) of the Act provides that a <br />municipality may authorize temporary borrowing to meet expenditures made in <br />connection with a work to be financed in whole or in part by the issue of debentures <br />if, <br />
The URL can be used to link to this page
Your browser does not support the video tag.