HomeMy WebLinkAboutBy-law 4345/73THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NUMBER ?{S
A by-law to authorize the construction
and financing of the expansion to the
second ice pad for the Don Beer Sports
Arena, pursuant to Section 352, para. 74,
of The Municipal Act, R.S.O. 1970, c.284,
as amended.
WHEREAS the Council by By-law #4279/72 authorized the con-
struction of 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 at an estimated cost of $305,000.00;
AND WHEREAS application was made to the Ontario Municipal
Board and approval received by Board Order #H-7090;
AND WHEREAS the Council adopted the recommendation of the
Parks and Recreation Department to increase the ice surface
and seating capacity of the arena to facilitate the needs
of the local residents, as expressed in Resolution #35/73.
AND WHEREAS the increased ice surface and seating capacity
is estimated to affect the overall capital costs by a
further expenditure of $80,000.00;
AND WHEREAS Ontario Municipal Board approval for this
additional capital expenditure is required;
NOW THEREFORE the Council of the Corporation of the Township
of Pickering ENACTS AS FOLLOWS:
1. The construction and financing of the increased ice
surface and seating capacity of the second ice pad of
The Don Beer Sports Arena at a total estimated cost
of Eighty Thousand Dollars ($80,000.00) be and the
same is hereby authorized.
2. The sum of Eighty Thousand Dollars $80,000.00 of the
said total estimated cost is to be financed by the issue
of debentures of the Corporation of the Township of
Pickering having a term of twenty (20) years.
3. 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
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the sum hereby authorized to be borrowed and may
hypothecate such debenture for such loan.
4. This by-law is subject to the approval of the Ontario
Municipal Board.
By-law read a first and second time this / (c 4C day of
--- /??, 1973.
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By-law read a Third Time and PASSED this lday of
,, 1973.
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