THE REGIONAL MUNICIPALITY OF PEEL

BY-LAW NUMBER 7-92

A by-law to amend By-law Number 61-88 titled "A by-law to authorize a contribution of $54,473.10 to Gottardo Properties for the oversizing of a watermain servicing the lands on Kennedy Road and Creator Boulevard in conjunction with the development of the Gottardo Properties Industrial Subdivision, in the City of Brampton" to provide for revised funding.

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 61-88 titled "A by-law to authorize a contribution of $54,473.10 to Gottardo Properties for the oversizing of a watermain servicing the lands on Kennedy Road and Creator Boulevard in conjunction with the development of the Gottardo Properties Industrial Subdivision, in the City of Brampton", under Project 88-1805 to provide for revised debenture funding;

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

1. That Section 2 of By-law Number 61-88 is hereby repealed and the following substituted therefore:

"2. (a) That amount of $24,659.00 shall be provided from Unapplied Capital Receipts; and

(b) That the total cost of the works being estimated at $29,814.10.00 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 23rd January, 1992.

Regional Clerk, Chairman