HomeMy WebLinkAboutBy-law 3173THE CORPORATION OF THE TOWNSHIP OF PICKERING
BY-LAW NUMBER 3173
A By-law to amend By-law Number 3164
WHEREAS the Council of The Corporation of the Township
of Pickering on the 20th day of June, 1966 passed By-law Number
3164 authorizing the issue of Debentures in the principal amount
of $61,500,00 for the purchase of lands for industrial sites;
AND WHEREAS no Debentures have been issued under the
authority of the said By-law;
AND WHEREAS it is desirable to clarify the levy provisions
of the said By-law.
NOW THEREFORE, the Council of The Corporation of the
Township of Pickering enacts as follows:
1. THAT paragraph 7 of said By-law be repealed and the
following be substituted therefor:
"7. That there shall be raised in each year of the currency
of the Debentures, by a special rate on all the ratable
property in the Municipality, a sum sufficient to pay the aggre-
gate amount of principal and interest falling due in such year
as set forth in the fourth column of said Schedule "B" hereto,
but no greater rate shall be levied in any year for such
purpose than is required after taking into account receipts
from the sale of the said lands or part or parts thereof."
READ a first, second and third time and finally passed
by a vote of three-fourths of all the members of the Council
this /1E day of July, 1966.