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Page 2 <br /> By-law Number 14-2012 (cont'd) <br /> AND WHEREAS Sections 315 and 322 of the Municipal Act, <br /> 2001, S.O. 2001, c.25, as amended, provide for the <br /> apportionment of payments in lieu of taxes and taxation of <br /> certain railway and power utility lands, and for the number of <br /> installments and due dates thereof and the rate of interest to be <br /> paid on the amount in default if a local municipality fails to make <br /> a payment, or portion thereof; <br /> AND WHEREAS tax rates for each property class will be <br /> calculated for County purposes; <br /> NOW THEREFORE THE COUNCIL OF THE CORPORATION OF <br /> THE COUNTY OF ESSEX enacts as follows: <br /> 1. That the 2012 assessment per property class as detailed in <br /> Schedule 3 attached hereto and forming part of this by- <br /> law, be adopted for purposes of calculating the tax rates <br /> for County purposes and for determining the levy on all <br /> County municipalities. <br /> 2. That the estimated share of payments in lieu of taxes and <br /> taxation for certain railway and power utility lands as set <br /> out in Schedule 4 attached hereto and forming part of this <br /> by-law be adopted. <br /> 3. That the amount to be raised by tax rates for County <br /> purposes in the amount $ 73,109,579 as set out in <br /> Schedule 5 attached hereto and forming part of this by-law <br /> be adopted. <br /> 4. That in accordance with the calculations set out in <br /> Schedule 6 attached hereto and forming part of this by- <br /> law, the tax rates to be applied on the rateable assessment <br /> in each local municipality for County purposes, shall be as <br /> follows: <br />