HomeMy WebLinkAboutBy-law 7171/11
The Corporation of the City of Pickering
By-law No. 7171/11
Being a by-law to authorize the supply and
delivery of One Multi-Purpose Sidewalk
Tractor with Attachments in the City of
Pickering and the issuance of debentures
therefor in the amount of $155,000
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 supply and delivery of one
Multi-Purpose Sidewalk Tractor with Attachments; and,
Whereas before the Council of the City authorized the supply and delivery of one Multi-
Purpose Sidewalk Tractor with Attachments, 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 CS 42-11 on the date hereof and awarded
Tender T-16-2011 for the supply and delivery of One (1) Multi-Purpose Sidewalk Tractor
with Attachments
Now therefore the Council of The Corporation of the City of Pickering hereby
enacts as follows:
By-law No. 7171/11 Page 2
1. That the City proceed with the supply and delivery of one Multi-Purpose Sidewalk
Tractor with Attachments;
2. That the. estimated costs of the project in the amount of $156,708 be financed as
follows:
a) That the sum of$155;000 be financed by the issue of debentures by The
Regional Municipality of Durham over,a period not to exceed five years;
b) That the sum of $1,708 be funded from property taxes;
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 2012 and continuing
thereafter until the loan is repaid.
By-law read a first, second and third time and finally passed this 21St day of November,
2011.
David Ryan ay r `
Debbie Shields, City Clerk`
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