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HomeMy WebLinkAboutBy-law 1031MUNICIPALITY OF THE Town-map OF PicYF.R-,No BY r LAW NO. 1031 A By-Law to authorize a certain agreement made between the Hydro Electric Power Commission of Ontario and the Municipal Corporation of the Township of Pickering and other Municipal corporations, for the oonstruotionj equipment and operation of an Electric Railway under "The Hydro-Fleotrio Railway Act, 1914"s Whereas it is expedient that the Corporation of the Township of Pickering and other Municipal corporations should enter into an agreement under "The Hyrdro•Fl.ectric Railway Act 1914 " with The Hydro-rleotric Power Commission of Ontario, hereinafter called the Commission, for the Constructic equipment and operation of an Electric Railway in and through the Municipalit of the Township of Pickering and certain other Municipalites, upon the terms and conditions and subject to the provisions set forth and contained in tke agreement not out in this ByLaw, and according to the routes set forth in Schedule "A" to the said agreement) And Whereas the estimated cost of the work under the said afire" mentIs $W346,938. and whereas the portion of the cost of the construction and equipment of the line to be borne by the corporation of the Municipality of the Township of Pickering is estimated at $578,115* as set out in Schedule "B" to the said agreement subject to adjustments and appointment between the Corporations by the Commission from time to time, as provided by the said agreement. And Whereas the total annual amount is estimated to be required for the maintenance of the railway, a part from operating expenses, is $138078 (the operating revenue being estimated at $776,400, and operation and maintenance at x0.554)1 And Whereas the total annual amount estimated to be required, for period of ton years immediately following the date of the issue of the Bonds is $217,347• and thereafter for the next ensuing forty years, the annual amot estimated to be required for sinking fund charges for the retirement of the s bonds is $0,469• and for interest on the said bonds $2170471 And whereas the portion to be borne by the Municipality of the Township of Pickering of the said annual amounts, estimated to be required for maintenance, sinking fund charges and interest Is estimated at X6,684. for the first ten years, as aforesaid, and thereafter at $52,465. on the same basis as the portion of the cost of construction and equipment, as aforesaid, subject to adjustments and apportionment between the Corporations by the Commission from time to time as provided by the said agreement. And Whereas the amount of the whole rateable property of the Corporation according to the last raised Assessment Roll is $3 4600222.70 and the amount of the debenture debt of the Corporation is $60,21j2.23, of whit neither principal nor interest in in arrears Therefore the Municipal Council of the Corporation of the Townshi of Pickering enacts as followsl 1s It shall be lawful for the Corporation of the Township of Pickeri and the said Corporation is hereby authorized to enter into the following agreement with the Hydro-Electric Power Commission of Ontario and other Corporations the said Agreement being hereby incorporated into and forming a part of Me By-law, and the Reeve and Clerk of the Corporation are hereby authorized and directed to execute the said agreement upon behalf of this Corporation and to attach the Seal of the Corporation thereto. Agreement Hereinbefors Referred To. This Indenture made the day of in the year of our Lard One thousand nine hundred and fourteen; Between The Hydro-Electric Power Commission of Ontario (hereinafter called the commission of the First Part, And By-Law No. 1031 Page 2. The Municipal corporations of the Township of Scarborough, the Township of Markham, the Township of whhitchurch, the Township of Pickering, the Township of Uxbridge, the Township of Whitby, the Township of Reach, the Town of Newmarkett the town of Uxbridge, the Town of Whitby, the Village of Markham, the Village of Stouffville and the Village of Port Perry (hereinafter called the Corporations) of the Second Part* Whereas pursuant to the Hydroinlectrio Railway Aot, 19141, the Commission was requested to inquire into, examine, investigate and report upi the cost of construction and operation of an electric railway or railways to be constructed through curtain districts in which the Corporations are situated, together with the probable revenue that would result from the operation of such railway or railways. And Whereas the Commission has furnished the Corpration with such a report showing (1) the total estimated cost, operating revenue and expenses of the railway or railways, and (2) the proportion of the capital cost to be borne by each of the Corporations as set Forth in Schedule "B" attached here, And Whereas on receipt CC said report the Corporations requested the Commission to constructs equip and operate a system of electric railways (hereinafter called the railway) over the routes laid dawn in Schedule "A" attached hereto, upon the terms and conditions and in the manner herein set forth; And Whereas the Commission has agreed with the Corporation on behalf of the Corporation to construct, equip and operate the railway upon the terms and conditions and in the manner herein set forth, but upon the express condition that the Commission shall not in any way be liable by reason of any error or omission in any estimates, plans or specifications for any financial or other obligation or loss whatsover by virtue of this agreement or arising out of the preformance of the terms thereof; And Whereas the electors of each of the Corporation have assented to by-laws authorizing the corporation to dnter into this agreement with the Commission for the construction, equipment and operation of the railway as laid down in the said schedule subject to the following terms and conditil And Whereas the corporations have each issued debentures for the i amounts not forth in schedule "B" attached hereto, and have deposited the said deposited the said debentures with the commission; Now Therefore this Indenture Witneaseth; 10 In consideration of the promises and of the agreements of the Corporations herein contained, and subject to the provisions of the said act, the Commission agrees with the Corporation respeotively; (a) To construct, equip and operate the railway through the districts in which the Corporations are situate on behalf of the Corporations; (b) To construct and operate the railway over the route laid down in schedule "A". (c) To issue bonds, as provided in paragraph 3 of this agreement to cover the cost of constructing and equiping, tho railways (d) To furnish as far as possible first class modern and standard equipment for use on the railway, to operate this equipment so as to give the best service and accommodation poasible, having regard to the district served& the type of construction and equipment adopted, and all other equitable conditions, and to exercise all due dkill and diligence so as to secure the most effective operation and service of the railway consistent with good management; (e) To request and fix the fares and rates to be collected by t1a railway for all classes of service; (F) To utilize the routes and property of the railway for all purpose from which it is possible to obtain a profit; (g) To combine the property and works of the railway and the power li By-Law No* 1031 Page 3* of the Commission where such combination is feasible and may prove ecconomical to both the railway and users of the power lines; (h) To permit and obtain intercharge of traffic with other railways whereas possible and profitable= (i) To supply electrical power or energy for operation of the railway at rates consistent with those charged to Municipal Corporations; (j) To apportion annually the capital costs and operating expenses of all works, apparatus and plant used by the railway in common with the Commission's transmission lines in a fair manner, having retard to the services furnished by the expenditure under consideration; (k) To apply the revenue derived from operation of the railway and any other revenue derived from the undertaking to the payment of operating expenses (including electrical paver), the cost of administration, and annual charges for interest and sinking fund on the money invested and such other deductions as are herein provided for; (1) To set aside from the revenue thereafter remaining an annual sum for the renual of any works belonging in whole or in part to the under- taking) (m) To pay over annually to the corporation if desired advisable by the Commission in the interests of the undertaking, any surplus that may remain after providing for the items above mentioned. The division of such surplus between the corporation to be fixed by the Commission on an equitabl basis, having regard in the case of each Corporation to the capital invested the service rendered, the comparative benefits derived, and all other like conditions; (n) To take active steps for the purpose of constructing and operatin the railway at the earlier possible date after the execution of this agree- ment by the Corporations and the desposit of the debentures as called for under clause (b) here of and to commence operation of each section as soon as possible after its completion. (o) To make such extensions to the railway described in schedule "A" as may appear advantageous and profitable from tims to time. 29 In consideration of the premises herein forth, each of the Corporations for itself, and not one for the other, agrees with the Commissi (a) To bear its share of the cost of constructing, equipping, operati maintaining, repairing, renewing and insuring the railway and its property and works as established by the Commission, subject to adjustments and appointinment between the corporations by the Commission from time to time. (b) To issue debentures for the amounts set forth in Schedule "B" maturing in fifth years from the date of issue thereof, and payable yearly at the Bank, at Toronto, Ontario, such debentures shall be deposited with the Commission previous to the issuing of the bonds mentioned above, and may be held or disposed of from time to time by the Commission, as provided for in clause 4 hereof, in such amounts, at such rates of discount or premiums, and on such terms and conditions as the Commission in its cols descretion shall deem to be in the interests of the railway, the proceeds. of such debentures being used solely for the purposes herein contained* jhe amount of debentures of each Corporation sold or disposed of from time to time shall be such proportion as malp be fixed by the Commission of the total amount of debentures, due regard being given to the capital invested, the service rendered, the comparative revenue derived aAd all other equitabl conditions; (o) To make no agreement or arrangement with and to grant no bonus, license or other inducement to any other railway or transportation company without the written consent of the commission; (d) To keep, observe and perform the covenants, provisoes and conditi set forth in this agreement intended to be kept and observed and performed by the corporations, and to execute such further or other documents and to p such by-laws as may be requested by the Commission for the purpose of fully effect--ing the objects and intent of this agreement; (e) To furnish a free ri t of w f he railway and for the pwwer lines of the Commission over my proper o f a Corporations upon being so ByLaw Noe 1032 Page 3. (0) requested by the Commission and to execute such conveyance those of or agreement with regard thereto as may be desired by the Commission= 3e It shall be lawful and the commission is hereby authorised to create or cause to be created an issue of bonds and to sell or dispose of the same on behalf of the Corporations, such bonds to be charged upon and secured by the railway, and all the assets, rights, privileges tt revenues works, property and effects belonging thereto or held or used in conneotlon with the railway constructed, acquired, operated and maintained by the ' Commission under this agreement, and to be for the total amounts mentioned is schedule "B" hereto attahoedl provided that the commission may, upon obtaining the consent as herein defined of the majority of the Corporations increase the said bond issue by any amount necessary to cover the capital cost of extending the railway, and may also without such consent increase th said bond issue to cover the cost of additional works or equipment of any kind for use on the railway to an extent not exceeding ton percent. (lo,,) of the bonds issued from time to time. In order to meet and pay such bonds and interest as the terms becomes due and payable the Commission shall in each year after the expiration of ten years from the date of the issue of the bonds out of the revenue of the railway after payments of operating expe: (including electrioal power) and the cost of administration not aside a sufficient sum to provide a sinking fund for the purpose of reducing; the sit at maturity, Debentures issued by the Corporation in compliance with Claus, (2b) hereof, shall, to the extent of the par value of any bonds outstanding from time to time, be held or disposed of by the Commission in trust for the holders of such bonds as collateral security for payments thereof, it being understood and agreed that in the event of any increase of the said bo issue each corporation shall, upon the request of the Comed.esion, deposit with the Commission additional debentures as described in clauses 2 (b) hereof to be held or disposed of by the Commission as Collateral security for such increase of the said bond issue, and that any debentures held by the Commission in excess of the par value of the outstanding bonds from time to time bay be held or disposed of by the Commission to secure payment of any deficit arising from the operation of the railwaye )+. In the event of the revenue derived from the operation of the undertaking being insufficient in any "ar to meet the operattg expenses (including electrical power) the cost of administration and the annual charges for interest and sinking fund on the bonds, and for the expense of any works belonging in whole or in part to the railway, such deficit shall be paid to the commission by the corporation upon demand of and in the proportion adjusted by the Commissiono in the event of the failure of any corporation to pay Its share of such a deficit as adjusted by the Commission it shall be lawful for tho commission in the manner provided in clause 2 (to to dispose of debentures held by the Commission as security for any such deficit. Any arrears by any corporation shall bear interest at the legal rate. 50 Should any corporation fall to perform any of the obligations to the Commission under this agreement, the Comtission may, in addition to all other remedies and without notice, discontinue the service of the railway to such corporation in default until the said obligation hits been fulfilled, and no such discontinuance of service shall relieve the corporation in default from the performance of the covenants, promises and conditions herein contained. 6• In case the Commission shall at any time or time be prevented from operating the railway or any part thereof by strike, lockout, risk, fire, Invasion! explosion# act of God, or the Kinges enemies, or any ether cause reasonable beyond its contract, then the Commission shall bot be bound to operate the railway or such part thereof during such time, but the corporation shall not be relieved from any liability or payment under this agreement and as soon as the cause of such interruption is removed the Commission shall, without any delay, continue full operation of the railway, and each of the corporations shall be prompt and diligent in doing everythii in its power to remove and overcome any such cause or causes of tnterruptio 7e It shall be lawful for,, and the corporations hereby authorise the Commission to unite the business of the railway with that of any other railway system operated in whole or in part by the Commissions and to exchange equipment and operators from one system to the other, proper provision being made so that each system shall pav its proportionate share of the cost of any equipment used in oommone BY-Law Noe 1031 Pae 8e If at any time any other municipal Corporation applies to the commission for an extension of the railway into its municipality the commission shall notify the applicant and the corporations, in writing, of a time and place to hear all representations that may be made as to the terms and conditions relating to such proposed extension# if on the recommendation of the Commission such extension shall be authorised, without discrimination in favor of the applicant as to the cost incurred or to be incurred for or by reason of any such extension, the commission may extend the railway upon such terms and conditions as may appear equitable to the commission. No* such application for an extension of the railway into any Municipality the corporation of rh ich is not a party to this agreement shall be granted if it is estimated by the Commission that the cost of service of the railway to the Corporations parties hereto will be thereby increased 6r the revenue and secomodation be injuriously affected without the written consent of the majority of the corporation parties hereto. 9e The consent'of any corporation required under this agreement shall mean the eonsent being in the form of a municipal by-law duly passed by the oouncil of the corporation, 10* The commission shall, at least annually, adjust and appoftion between the corporations the cost of construction, equipment, operation, interest, sinking fund, and also the cost of renewing the property of the railways 110 Every railway and all the works, property and effects held and used in connection therewith, constructed, acquired, operated and maintained by the commission under this agreement and the said Act shall be vested in the said Commission on behalf of the corporations, but the mission shall be entitled to a lien upon the same for all money expended by the Commission under this agreement and now repaid, 12. Each of the corporations covenants and agrees :°ith the other$ (a) To carry out the agreements and provisions herein contained- (b) To so+operate by all means in its power at all times with the commission to create the most favourable conditions for the carrying out of the objects of this agreement and of the said Act, and to increase the revenue of the railway and ensure its success* lie In the event of any difference between the corporations the Commission may, upon application, find a time and place to hear all repres.+ entations that may be made by the parties, and the Commission shall adjust such differences, and such adjugtments small be finale The Commission shall have all the powers that May be conferred upon a Commissioner appointed under the Act Respecting EsAgYiries concerning Public Matters, 14s This agreement shall continue and extend for a period of fifty years from the date hereof, and at the expiration thereof be subject to removal, with tha consent of the corporations from time to time for like periods of fifty years, subject to adjustment and re-apportionment as herein provided for the purposes of this agreement do through the terms hereof had not expired, At the expiration of this agreemen$ the Ca,3aission shall determine and adjust the rights of the corporations, having re,_'ard to the amounts paid or assumed by them respectively under the terms of this agreemw assd such other consideration as may appear equitable to the Commission and are approved by the Lieutenant-Governor in council,* 15e This agreement shall not come into effect until it has been sanctioned by the Lieutenant-Governor in Councils In witness whereof the Commission and the corporations have respectively affixed their proper officers. SCHEDULE "A" Routes, Trento - Unionville section, From the eastern limits of the city of Toronto, Victoria Park Avenuesp liens will parallel the Canadian Northern Railway on the south side to Pharmacy-AveniYe,-thenee take a direct route to the South-east corner of lot 29, Con, Co. 'T'ownship of Scarborough, orossing the Kennedy By-Law No. 1031 Page 5 Road, lines will run northerly about the oentre of Lot 280 as far an con, 10 Township of Scarboro, from which point approximately parallel to the Gra Trunk Railway tc Unionville, UNIONVILTE • BROORLIN 3T3CTION. The line will cross the Grand Trunk Railway an Poad allowance between lots 10 and 11, con. V, Township of Markham, and run r7n this to Con. VIe at which point line will cores to lot 11 and parallel the road to the neighborhood of Markham Village where it will turn norbher.'.y :nA cross Con* 8 road south of Grand Trunk Railway, continuing easterly line will run throuuggh Locust Hill along or parallel with road allowance between lots 10 and 11e From the Markham Pickering, Township line, line will cross to the centre of Cone 6, Township of Pialm rin., and continue approximately through the oentre of the Concession to grooklin, excepting near Greenwood, where the line will be directed. UNIONVILLE . NF.PPbAR)TT S"CTIONe The line will run Northerly from Unionville approximately up the centre of concession 50 Township of Markham* and of Concession 5 Township of Whitchurch, to or near Lot 5, thence to centre of Concession 4, Township of 19hitchurch to or near Lot 27, and thence northwesterly to Newmarkete STOTTF^VILLE JUNCTIOn - CLARP!")TIT SECTION* At a point in Unionville - Newmarket Section at Markham, elhitohu Township line designated Stouffville Junction, line will run easterly a short distance south of the Township line, through Stouffville to the Markham, Pickering, Township line and thence through the middle of Conoessi 9, Township of Pickering, to Clarem onte VANDWF - UXBPIDGE SECTION From Vandorf on the Unionville- NewmRr)aet section, line will run near road allowance between Lots 15 and 16, Township of Nhitchurch, to the north side of Musselmanws Lake, thence north-easterly to a point about i mile south of Siloam, and thence due east to Uxbridge,paralleling the roe allowance - ? mile to the southe MHITBY SECTION Line will leave Port Perry in'the neighborhood of the Fair Grounds and run direct to Manchester '.0e thence south to meet the Grand Trunk Railway near Highpoint Lines will continue secutherly a short distano west of the Grand Trunk Railway, passin about i? mile east of Ashburn and thence through Lot 24, in the Township of .Jhitby to rrooklin. From Brooklin the line will rim parallel to the road allowance between Lots 28 and 29 Township of :Ihitby, as far south as the Canadian Pacific Railway in the Town of Whitby, The lino will thence be directed to Henry Street and thence to the Lake Front. SCFYDULE "B" Name of Muniopal Corporation Iobal amount of debentures to b issued by the respective munict alities and deposited with the oommissien under Clause 2(b) Township of Soarborough Township of Markham Township of Whitchurch Township of Pickering Township of Uxbridge Township of Whitby Township of Reach Village of Markham Village of stouffville J65.711?,00 O A039900 48 ,152.00 578115.00 227,901.00 554.619.00 285;722.00 48.762.00 75.281.00 $yrLaw No. 1031 Pase 6 village of Port Perry Tam of Newmarket Town of Uxbridge Town of Whitby $113,308.00 266,986,00 2042661. oo 183oM oo Total amount of bonds to be issued, mentioned in clause 3. $63460 938.00. Made# passed and entered this 9th day of November 1914* Wow. Parks, Reeve, D. Beaton Clerk.