THE REGIONAL MUNICIPALITY OF PEEL

BY-LAW NUMBER 13-94

A by-law to levy against the area municipalities a sum not exceeding 50 percent of the levy made by Regional Council in 1993 before the adoption of the final Regional estimates for the year 1994.

WHEREAS by Section 27(1) of the Regional Municipality of Peel Act, R.S.O. 1990 , Chapter R.15, the Regional Council may before the adoption of estimates for the year, levy against each of the area municipalities a sum not exceeding 50 percent of the levy made by the Regional Council in the preceding year against that area municipality;

AND WHEREAS the Council of the Regional Corporation has by resolution adopted on the 27th January, 1994 authorized the enactment of a by-law to levy against the area municipalities;

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

1. That an Interim General Levy be made in respect of the year 1994, against the area municipalities as follows:

MUNICPALITY GENERAL LEVY
City of Mississauga $65,604,904.00
City of Brampton $23,495,004.00
Town of Caledon $3,176,865.00
  $92,276,773.00
2. That the Interim General Levy payments to the Regional Corporation under this by-law shall be made, in accordance with Regional Council Policy approved by Resolution 76-57-33, on the first working day following the area municipality due dates for tax bills as follows:
  Mississauga Brampton Caledon
1st Installment March 8, 1993
 $27,488,465.00		 Feb. 16, 1994
$9,770,785.00		 March 29, 1994
$1,162,234.00
2nd Installment April 6, 1994
$19,058,220.00		 March 18, 1994
$6,862,110.00		 April 26, 1994
$1,007,316.00
3rd Installment May 5, 1994
$19,058,219.00		 April 20, 1994
$6,862,109.00		 June 1, 1994
$1,007,315.00

and that any amounts not received at 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 by 4:30 p.m., 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 1½ percent per annum to a maximum rate of 15 percent.

3. 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 27th January, 1994.

Regional Clerk, Regional Chair