THE REGIONAL MUNICIPALITY OF PEEL

BY-LAW NUMBER 11-91

A by-law to levy against the area municipalities a sum not exceeding 50 percent of the levy made by Regional Council in 1990 before the adoption of the final Regional estimates for the year 1991.

WHEREAS by Section 87 of the Regional Municipality of Peel Act, R.S.O. 1980, Chapter 440, the Regional Council may in any year before the adoption of the estimates for that year, levy against the area municipalities a sum not exceeding 50 percent of the levy made by the Regional Council in the preceding year;

AND WHEREAS the Council of the Regional Municipality has by resolution adopted on 24th January, 1991 authorized the enactment of a by-law to levy against the area municipalities;

NOW THEREFORE the Council of the Regional Corporation enacts as follows:

1. That an Interim General Levy be made in respect of the year 1991, against the area municipalities as follows:

MUNICIPALITY
GENERAL LEVY
City of Mississauga
$ 48,915,654.00
City of Brampton
$ 17,630,156.00
Town of Caledon
$ 2,343,610.00
 
$ 68,889,420.00

2. That the Interim General Levy payments to the Regional Corporation under this by-law shall be made, in accordance with Regional Council Policy approved by Resolution 76-57-33, on the first working day following the area municipality due dates for tax bills as follows:

 
1st Instalment
2nd Instalment
3rd Instalment
Mississauga
March 6, 1991
April 10, 1991
May 8, 1991
 
$ 20,662,379.00
$ 14,126,638.00
$ 14,126,637.00
Brampton
Feb. 20, 1991
March 22, 1991
April 24, 1991
 
$ 7,347,221.00
$ 5,141,468.00
$ 5,141,467.00
Caledon
March 27, 1991
May 1, 1991
May 29, 1991
 
$ 857,622.00
$ 742,994.00
$ 742,994.00

3. That any amounts as mentioned in section 2 not received at the Region's bank via electronic funds transfer by the due date, or by the Regional Corporation before the close of business on the due date, that being by 4:30 p.m., to allow the Region to receive value for the funds on that day, shall bear interest at a rate equivalent to the highest chartered bank prime rate on the due date plus 1½ percent per annum to a maximum rate of 15 percent.

4. That the Treasurer and Commissioner of Finance is hereby directed and authorized to do all acts necessary to collect these levies.

READ THREE TIMES AND FINALLY PASSED IN OPEN COUNCIL this 24th January, 1991