THE REGIONAL MUNICIPALITY OF PEEL
BY-LAW NUMBER 80-97
A by-law to levy against the area municipalities a sum not exceeding 50 percent of the levy made by Regional Council in 1997 before the adoption of the final Regional estimates for the year 1998.
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 municipality;
AND WHEREAS Council has by resolution approved on December 18, 1997 authorized an interim levy by-law;
NOW THEREFORE, the Council of the Regional Corporation enacts as follows:
1. That an Interim General Levy be made in respect of the year 1998, against the area municipalities as follows:
|
MUNICIPALITY |
GENERAL LEVY |
|
City of Mississauga |
$73,575,819.00 |
|
City of Brampton |
$27,758,342.00 |
|
Town of Caledon |
$4,124,893.00 |
|
$105,459,054.00 |
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 Instalment |
March 4, 1998 |
February 24, 1998 |
April 1, 1998 |
|
2nd Instalment |
April 2, 1998 |
March 26, 1998 |
May 27, 1998 |
|
3rd Instalment |
May 4, 1998 |
April 28, 1998 |
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 1.5 percent per annum to a maximum rate of 15 percent.
3. That the Region of Peel’s instalment due dates specified herein are set and will be amended as required to be one (1) business day following the tax bill instalment due dates established by each area municipality’s tax levy and collection By-law.
4. 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 18th December, 1997.
Regional Clerk, Regional Chair