THE REGIONAL MUNICIPALITY OF PEEL

BY-LAW NUMBER 37-91

A by-law to authorize and collect a capital levy upon designated cost sharing areas for the Metropolitan Toronto and Region Conservation Authority and the Credit Valley Conservation Authority for the 1991 fiscal year.

WHEREAS The Regional Corporation has been requested and is obliged pursuant to clause 4(1)(b) and section 26 of the Conservation Authorities Act, R.S.O. 1980, c. 85 as amended, to provide capital funding of certain requirements of the Credit Valley Conservation Authority in the amount of two hundred and forty-three thousand dollars, ($243,000.00) and of the Metropolitan Toronto and Region Conservation Authority in the amount of one hundred and thirty-five thousand dollars, ($135,000.00).

AND WHEREAS there is attached hereto a schedule marked "A" which shows the details of the Regional Corporation's 1990 surplus for Conservation Authority purposes and the amounts of the Regional Corporation's 1991 revenues, both to be applied to such capital funding requirements;

AND WHEREAS following the application of the 1990 surplus and the 1991 revenues to the capital funding requirements, there remains a portion of such requirements yet to be raised by the Regional Corporation;

AND WHEREAS the Council of the Regional Corporation has enacted or will enact a by-law to provide that a specified portion of the monies required to be raised by the Regional Corporation for such purposes gives rise to a benefit, the major part of which accrues to designated limited areas of the Regional Area (the "designated cost sharing areas");

AND WHEREAS the designated cost sharing areas are co-extensive with the area municipalities within the Regional Area;

AND WHEREAS it is necessary to provide for the raising of all or a portion of the monies required to be raised by the Regional Corporation by means of a capital levy raised from the area municipalities;

AND WHEREAS the designated cost sharing areas have been or will be approved by the Minister of Natural Resources before payments of the monies received from the collection of the capital levy authorized by this by-law are made to the Conservation Authorities by the Regional Corporation;

AND WHEREAS the Council of the Regional Corporation by resolution passed on 28th March, 1991 authorized special rates upon the rateable property in such designated cost sharing areas for the purpose of permitting the area municipalities to finance such capital levy;

AND WHEREAS by reason of an excess of funds available from 1991 revenues over the requirements of the Credit Valley Conservation Authority in the Town of Caledon designated cost sharing area, a remittance is payable to the Town of Caledon;

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

1. That Schedule "A" hereto attached forms part of this by-law.

2. That the monies required to be raised in the year 1991 with respect to certain water control projects of the Credit Valley Conservation Authority and of the Metropolitan Toronto and Region Conservation Authority which have been designated by Regional Council by by-law, the major part of the benefit to be derived from which accrues to the whole of the City of Mississauga as a designated cost sharing area are two hundred and five thousand, seven hundred and forty-four dollars, ($205,744.00) and are hereby levied against the Corporation of the City of Mississauga.

3. That the monies required to be raised in the year 1991 with respect to certain water control projects of the Credit Valley Conservation Authority which have been designated by Regional Council by by-law, the major part of the benefit to be derived from which accrues to the whole of the City of Brampton as a designated cost sharing area, are twenty-two thousand, five hundred and sixty-five dollars, ($22,565.00) and are hereby levied against the Corporation of the City of Brampton.

4. That the monies required to be remitted in the year 1991 with respect to certain water control projects of the Credit Valley Conservation Authority which have been designated by Regional Council by by-law, the major part of the benefit to be derived from which accrues to the whole of the Town of Caledon as a designated cost sharing area, are one hundred and three dollars ($103.00) and are hereby directed to be remitted to the Corporation of the Town of Caledon on August 28, 1991.

5. That the amounts levied be paid to the Regional Corporation on or before the following due dates in the following amounts:

Installments
 
First
Second
Third
City of Mississauga
July 10, 1991
August 7, 1991
September 11, 1991
 
$86,142.00
$59,801.00
$59,801.00
City of Brampton
July 17, 1991
August 16, 1991
September 18, 1991
 
$9,403.00
$6,581.00
$6,581.00

And that any installment or part thereof not received by 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 4:30 p.m., so as 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 one and one half percent per annum to a maximum rate of fifteen percent per annum from the date that payment is due to the date that it is received.

6. 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 25th April, 1991.

Regional Clerk and Director of Administration Chairman

THE REGIONAL MUNICIPALITY OF PEEL

SCHEDULE "A" T0 BY-LAW 37-91

I.-1 The amount required for capital purposes for 1991 payable in whole to the Credit Valley Conservation Authority is as follows:

Designated Cost Sharing Area Amount
City of Mississauga
$214,000.00
City of Brampton
$28,000.00
Town of Caledon
$1,000.00
 
$243,000.00

 

I-2 The amount required for capital purposes for 1991 payable in whole to the Metropolitan Toronto and Region Conservation Authority is as follows:

Designated Cost Sharing Area Amount
City of Mississauga
$135,000.00

II. Amount of the surplus (deficit) for 1990 to be applied to the requirements is as follows:

Designated Cost Sharing Area Amount
City of Mississauga
$125,039.00
City of Brampton
$395.00
Town of Caledon
$50.00
 
$125,384.00

III. Amount to be applied to the requirements from 1991 revenues is as follows

Designated Cost Sharing Area Amount
City of Mississauga
$18,217.00
City of Brampton
$5,040.00
Town of Caledon
$1,153.00
 
$24,410.00

THE REGIONAL MUNICIPALITY OF PEEL

SCHEDULE "A" T0 BY-LAW 37-91

IV. The amounts required to be raised by (remitted by) the Regional Corporation are as follows: (Items I-1 plus I-2) less (Items II plus III)

Designated Cost Sharing Area Amount
City of Mississauga
$205,744.00
City of Brampton
$22,565.00
Town of Caledon
$103.00
 
$228,206.00