HomeMy WebLinkAboutBy-law 4279/72
THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NUMBER _4,,Z'7
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Being a by-law to authorize the
construction and financing of a second
ice pad for the Don Beer Sports Arena.
WHEREAS the Corporation of the Township of Pickering deems
it desirable to construct and equip a second ice pad at the
Don Beer Sports Arena located in Part Lot 19, Range 3, Broken
Front Concession of the Township of Pickering;
AND WHEREAS the Council of the Corporation of the Township of
Pickering has agreed to construct the second ice pad at an
estimated cost of $305,000.00 and to issue debentures for part
of this cost repayable over a period of 20 years;
AND WHEREAS the Council has authorized an application to be
made to the Minister of Manpower and Immigration for a grant
under the Local Initiatives Programme in the sum of Sixty-Nine
Thousand Dollars ($69,000.00) for the financing thereof;
NOW THEREFORE the Council of the Corporation of the Township
of Pickering ENACTS AS FOLLOWS:
1. The construction and financing of the said second ice
pad for the Don Beer Sports Arena at a total estimated
cost of Three Hundred and Five Thousand Dollars
($305,000.001 be and the same is hereby authorized.
2. The sum of Sixty-Nine Thousand Dollars ($69,000.00) of
the said total estimated cost is to be financed by way
of a grant to be applied for under the Local Initiatives
Program of the Department of Manpower and Immigration.
3. The sum of Two hundred and Thirty-Six Thousand Dollars
($236,000.00) of the said total estimated cost to be
financed by the issue of debentures of the Corporation
of the Township of Pickering having a term of twenty (20)
years.
4. Pending sale of the debentures to be issued to finance
the works herein the Head of the Council and the Treasurer
may raise for the purpose aforesaid by way of loan on
such debentures any sum or sums of money not exceeding
in all the sum hereby authorized to be borrowed and may
hypothecate such debentures for such loan.
5. This by-law is subject to the approval of the Ontario
Municipal Board.
?l
By-law read a first and second time tHs = day of 4&ws Ar
1972.
Reeve
Jy- Clerk
1
By-law read a third time and PASSED this day of
%?4/G? 73
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eeve(
Clerk