WHEREAS the Council of the Regional Corporation, has by Resolution 91-439-13 adopted on 24th October, 1991 authorized an amendment to By-law Number 54-90 titled "A by-law to authorize an expenditure for a Computer Aided System for Police Enforcement and Records (C.A.S.P.E.R.) to increase the total estimated cost thereof and to repeal By-laws Numbered 108-88 and 24-89", under Project 88-8010 to provide for revised debenture funding;

1. That Section 2 of By-law Number 54-90 is hereby repealed and the following substituted therefore:

"2. That the total estimated expenditure of $6,506,000.00 shall be financed as follows:

(a) the sum of $4,350,091.00 shall be raised by the issue and sale of debentures by the Regional Corporation for a period not exceeding ten (10) 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;

(b) the sum of $468,909.00 shall be provided from Unapplied Capital Receipts;

(c) the sum of $1,552,000.00 shall be provided from Current Revenue; and

(d) the sum of $135,000.00 shall be provided from Interest Recovery on Capital Works in Process."

READ THREE TIMES AND FINALLY PASSED IN OPEN COUNCIL on 13th February, 1992. 

Regional Clerk Chairman