HomeMy WebLinkAboutBy-law 6950/09
THE CORPORATION OF THE CITY OF PICKERING
BY-LAW NO.6950/09
Being a by-law to authorize the Supply ; &
Delivery of Articulated Variable Horse Power
Motor Grader and the issuance of debentures
therefore in the amount of $245,000
WHEREAS Section 11 of the Municipal Act, 2001, as amended, provides that a lower-
tier municipality may pass by-laws respecting matters within the spheres of jurisdiction
described in that Section; and,
WHEREAS Subsection 401(1) of the Municipal Act, 2001, as amended, provides that a
municipality may incur a debt for municipal purposes, whether by borrowing money or in
any other way; and,
WHEREAS Subsection 401(3) of the Municipal Act, 2001; as amended, provides that a
lower-tier municipality in a regional municipality does not have the power to issue
debentures; and,
WHEREAS The Regional Municipality of Durham has the sole authority to issue
debentures for the purposes of its lower-tier municipalities including The Corporation of
the City of Pickering (the "City"); and,
WHEREAS the Council of the City wishes to proceed in respect of the. Supply &
Delivery of Articulated Variable Horse Power Motor Grader; and,
WHEREAS before authorizing the project to proceed in respect of the Supply &
Delivery of Articulated Variable Horse Power Motor Grader on the date hereof the
Council of the City had the Treasurer update the City's Annual Repayment Limit, the
Treasurer calculated the estimated annual amount payable in respect of such project
and determined that such annual amount would not cause the City to exceed the
updated Limit and, therefore, Ontario Municipal Board approval is not required as per
Section 401 of the Municipal Act, 2001, as amended, and the regulations made
thereunder; and,
WHEREAS after determining that Ontario Municipal Board approval is not required, the
Council of the City approved Report OES 29-2009 on the date hereof for the Supply and
Delivery of Articulated Variable Horse Power Motor Grader and awarded Quotation
Q-23-2009 for the Supply & Delivery of the Articulated Variable Horse Power Motor
Grader project.
NOW THEREFORE, THE COUNCIL OF THE CORPORATION OF THE CITY OF
PICKERING HEREBY ENACTS AS FOLLOWS:
By-Law No. 6950/09 (Continued) Page 2
1. That the City proceed with the project referred to as "Supply & Delivery of Articulated
Variable Horse Power Motor Grader";
2. That the estimated costs of the project in the amount of $247,287.60 be financed as
follows:
a) That the sum of $245,000 be financed by the issue of debentures by The
Regional Municipality of Durham over a period not to exceed (5) five years;
b) That the sum of $2,287.60 be funded from the 2009 Current Budget
3. That the funds to repay the principal and interest of the debentures be provided for
in the annual Current Budget for the City commencing in 2010 and continuing
thereafter until the loan is repaid.
BY-LAW read a first, second and third time and finally, passed this 19th day of May
2009.
C
David Ryan, Mayor
%ftw
Debi A. Wilcox,:City Clerk