2723-88GrantWindsorWestern - Laserfiche WebLink

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BY-LAW NUMB~q:{ __ 2723 __ A BY-LAW TO AMEND BY-lAW #2360 TO INCREASE GRAN? IN AID TO THE WINDSOR WESTERN (IODE) HOSPITAL TO TOTAL $500,000.00 WHEREAS Sub-section 1 of Section 113 of the Municipal Act, R.S.O. 1980, Chapter 302 and ~mendments thereto, authorizes Councils of all municipalities to pass by-laws for granting aid in the best interest of the municipality, AND WHEREAS, By-law #2360 passed by 'the Council of the Corporation of the Oounty of Essex on February 18, 1987 granted the Windsor Western (IODE) Hospital in the City of Windsor $300,000.00 payable in ton (10) annual instalments, AND WHEREAS, it is deemed to be in the best interest of the municipality to grant to the Windsor %%stern (IODE) Hospital a further $200,000.00, AND WHEREAS, it is deemed expedient to combine the balance of the principal of the original grant, namely $240 ~ 000 . 00 with the proposed principal of the additional grant namely $200,000.00, a~d to m~k~ such des%red combined principal balance n~mely $440,000.00, payable in fifteen (15) annual instalments, AND WHEREAS, it is deemed desirable to rely the principal balance in accordance with Schedule "A" attached to this by-law, NOW THErEFOrE the Council of the Corporation of the County of Essex enacts as follows: 1. For the purpose aforesaid the Council of the Corporation of the County of Essex shall grant the Windsor Western (IODE) HospitSl in the City of Windsor a further sum of $200,000.00, 2. That the Imincipal balance due on the original grant per By-law n~mely $240,000.00, be hereby combined with the $200,000.00 noted ~/1 (1) above, forming a revised principal balance of $440,000.00. 3. That the revised principal b~lance of $440,000.00 be payable without, interest ~s set out in the respective years in Schedule "A" attached %o this By-law. 4. Commencing in the year 1988 and thereafter in each year in ~hich an instalment of principal of the said grant becomes due, the Corporation shall levy ~nd 1~gise the specific sum shown for the respective year in the said Schedule "A". Such su~ shall be levied ar~ raised by a special rato sufficient therefor over and above all other rates upon the full value of all the rateable property in the municipality and no fixed asseSsment of pai. tial or total exemption from assessment or taxation shall apply thereto except as provided in The Assessment Act. 5. T~is by-law shall come into force and take effect after it bas received the approval of the Ontario Municipal Hoard.