HomeMy WebLinkAboutBy-law 7091/10
The Corporation of the City of Pickering
By-law No. 7091 /10
Being a by-law to authorize the acquisition
and delivery of a 41,000 LB. GVW Diesel
Snow Plow/Dump/Sander Truck in the City
of Pickering and the issuance of debentures
therefor in the amount of $180,000.
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 with the acquisition and delivery of a
41,000 LB. GVW Diesel Snow Plow/Dump/Sander Truck; and,
Whereas before the Council of the City authorized the acquisition and delivery of a
41,000 LB. GVW Diesel Snow Plow/Dump/Sander Truck, 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 was not required prior to City Council's authorization
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 28-10 on the date hereof and awarded
Tender T-18-2010 for the acquisition and delivery of a 41,000 LB. GVW Diesel Snow
Plow/Dump/Sander Truck.
Now therefore the Council of The Corporation of the City of Pickering hereby enacts as
follows:
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By-law No. 7091/10 Page 2
1. That the City proceed with the acquisition and delivery of a "41,000 LB. GVW Diesel
Snow Plow/Dump/Sander Truck";
2. That the estimated costs`of the acquisition and delivery of a 41,000 LB.,GVW Diesel
Snow Plow/Dump/Sander Truck in the amount of $183,867.10 be financed as
follows:
a) That the sum of $180;000 be financed by the issue of debentures by The
Regional Municipality of Durham over a period' not to exceed five (5) years;
b), That the sum of $3,867.10 be funded from Current Funds;
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 2011 and continuing
thereafter until the loan is repaid.
By-law read a.first, second and third time and finally passed this 13 day of September,
2010:
David Ryan; ayor
Debbie Shields, City Clerk
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