AND WHEREAS owners of properties on Humber Station Road (formerly Fifth Line Albion) from Mayfield Road to approximately 800 metres northerly, in the Town of Caledon, have petitioned for the construction of a water main on Humber Station Road (formerly Fifth Line Albion) from Mayfield Road to approximately 800 metres northerly, in the Town of Caledon, hereinafter referred to as "the works;"

AND WHEREAS the Council of the Regional Corporation has by Resolution 92-220-4 on the 25th June, 1992 and by Resolution 95-36-20 on the 26th January, 1995 and by resolution on the 23rd February, 1995 authorized the construction of the works pursuant to Section 221 of the Municipal Act, R.S.O. 1990, Chapter M.45, as amended, under Project 92-1010, at a total cost of $92,557.00;

AND WHEREAS the Council of the Regional Corporation deems it desirable to impose a waterworks rate on the owners or occupants of certain lands in the Town of Caledon pursuant to Section 221 of the Municipal Act, R.S.O. 1990, Chapter M.45, as amended;

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

1. That the Regional Corporation shall construct the works at a total cost of $92,557.00.

a) the amount of $29,875.00, being approximately 32.3% of the total cost of the works, shall be financed entirely by the Regional Corporation.

b) the amount of $62,682.00, being approximately 67.7% of the total cost of the works, shall be recovered by means of a special rate assessed against the owners of lands abutting the works, all of which are located in the Town of Caledon (formerly Township of Albion) in the Regional Municipality of Peel (formerly County of Peel), more particularly set out in Schedule "A" attached hereto, in the following manner:

i) property shall be assessed at a rate of $74.00 per metre of assessable frontage, which rate with interest thereon at 9.75% per annum for fifteen (15) years, shall be payable in fifteen (15) equal installments of $9.59 per metre of assessable frontage; and

ii) property having more than 61 metres of frontage shall be assessed a charge of $4,514.00, which charge with interest thereon at 9.75% per annum for fifteen (15) years, shall be payable in fifteen (15) equal annual installments of $584.99.

c) The said waterworks rate shall be an annual charge and shall be imposed for a period of fifteen (15) years commencing on a date to be determined by the Treasurer and Commissioner of Finance of the Regional Corporation. The due date for payment of the waterworks rate shall be sixty (60) days from the date of invoice for each payment.

a) corner lots which have two sides abutting the work may have one side treated as flankage and an appropriate reduction in the special assessment would be made;

b) if the flankage should in the future become frontage, (e.g. by means of a division of land) the frontage so created shall be liable to full frontage assessment;

c) reduction or increases in the frontage assessment may be made in the case of irregularly shaped lots (e.g. pie shape, having curved frontages, etc.) having regard to the situation, value and superficial area of the lots as compared with other lots; and

d) reduction may be made in the case of lots which for any reason are wholly or in part unfit for building purposes.