THE REGIONAL MUNICIPALITY OF PEEL

BY-LAW NUMBER 2-93

A by-law to amend By-law Number 63-89 titled "A by-law to authorize sanitary sewer reconstruction on Scott Street and Woodward Avenue in the City of Brampton" for revised funding.

WHEREAS the Council of the Regional Corporation, has by Resolution 92- 452-37 adopted on 10th December, 1992, authorized an amendment to By-law Number 63-89 titled "A by-law to authorize sanitary sewer reconstruction on Scott Street and Woodward Avenue with City of Brampton" under Project 89-2231 to provide for revised funding at a total of $50,000.00;

AND WHEREAS the Ontario Municipal Board by its Order dated the 19th May, 1988 under File Number E880586 pursuant to Section 65 of the Ontario Municipal Board Act, R.S.O. 1990, Chapter O.28, has authorized the Regional Corporation to proceed with the works 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 That Section 3 of By-law Number 63-89 is hereby repealed and the following substituted therefor:

"3. That the total cost of the works, being estimated at $50,000.00 shall be raised as follows:

(a) the sum of $47,871.00 under Ontario Municipal Board Order E880586 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; and

(b) the sum of $2,129.00 shall be provided from Utility Rate Stabilization Reserve."

READ THREE TIMES AND FINALLY PASSED IN OPEN COUNCIL this 14th January, 1993.

Regional Clerk, Chairman