13-2008 application to the OIPC for MIII capital project funding

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THE CORPORATION OF THE COUNTY OF ESSEX BY -LAW NUMBER 13 -2008 A BY-LAW TO AUTHORIZE THE SUBMISSION OF AN APPLICATION TO THE ONTARIO INFRASTRUCTURE PROJECTS CORPORATION ( "OIPC ") FOR FUNDING FROM THE MUNICIPAL INFRASTRUCTURE INVESTMENT INITIATIVE FOR A NEW ELIGIBLE CAPITAL PROJECT OF THE CORPORATION OF THE COUNTY OF ESSEX (THE "MUNICIPALITY "), AND TO APPROVE THE EXPENDITURE OF FUNDS ON SAID ELIGIBLE CAPITAL PROJECT WHEREAS the Municipal Act, 2001 (Ontario), as amended, (the "Act ") provides that a municipal power shall be exercised by by -law unless the municipality is specifically authorized to do otherwise; AND WHEREAS the Province of Ontario has recently announced an investment of $300 million dollars for municipal infrastructure as a one -time grant for eligible municipal infrastructure initiatives to Ontario municipalities and Local Services Boards; AND WHEREAS on behalf of the Province of Ontario, OIPC will be administering the Municipal Infrastructure Investment Initiative available to Ontario municipalities and Local Services Boards for the purposes of new eligible municipal infrastructure initiative projects; AND WHEREAS it is now deemed to be expedient to authorize for the municipal purposes of the Municipality the new capital project described in column (2) of Schedule "A" (the "Project") attached hereto and forming part of this By -law ( "Schedule "A ") in the amount of the estimated expenditure set out in column (3) of Schedule "A "; AND WHEREAS OIPC has invited eligible Ontario municipalities and Local Services Boards desirous of obtaining funding pursuant to the Municipal Infrastructure Investment Initiative in order to meet capital expenditures in connection with a new eligible capital project to apply to OIPC for such funding by completing and submitting an application through the form provided by OIPC (the "Application "); AND WHEREAS the Municipality has submitted an Application. to OIPC to request funding in respect of the Project; NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE COUNTY OF ESSEX ENACTS AS FOLLOWS: 1. The Council of the Municipality hereby confirms, ratifies and approves the completion by the Director of Corporate Services /Treasurer of an Application and the submission by such authorized official of an Application, duly executed by such authorized official, to OIPC for the funding of the Project in connection with the Municipal Infrastructure Investment Initiative in the maximum aggregate principal amount of $ 850,000.00 (the "Funding ").