THE REGIONAL MUNICIPALITY OF PEEL

BY-LAW NUMBER 7-91

A by-law to amend By-law Number 74-89 titled "A by-law to authorize an expenditure for a feasibility study for alternative sanitary sewerage collection and disposal systems for the Caledon East Settlement Area" to provide for revised funding.

WHEREAS the Council of the Regional Corporation, has by Resolution 90-498-9 adopted on 13th December, 1990 authorized an amendment to By-law Number 74-89 titled "A by-law to authorize an expenditure for a feasibility study for alternative sanitary sewerage collection and disposal systems for the Caledon East Settlement Area", under Project 89-2150 to provide for increased costs at a revised total of $130,000.00;

AND WHEREAS the Ontario Municipal Board by its Order dated 19th May, 1988 under File Number E880586 and pursuant to subsection 64(8) of the Ontario Municipal Board Act, R.S.O. 1980, Chapter 347, as amended, has authorized the Regional Corporation to proceed with the study subject to the limits and conditions set forth in the Order, and to issue debentures sufficient to provide for the cost thereof up to the amount provided for in the Order;

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

1. That the amount of "$65,000.00" wherever it appears in By-law Number 74-89 is struck out and the amount of "$130,000.00" is substituted therefor.

2. That Section 2 of By-law Number 74-89 is hereby repealed and the following substituted therefor: "2. That the total cost of the works being estimated at $130,000.00 shall be raised by the issue and sale of debentures by the Regional Corporation for a period not exceeding fifteen (15) years bearing interest at a rate to be determined at the time of the passing of a by-law to authorize the issuance of debentures."

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

Regional Clerk and Director of Administration Chairman