WHEREAS the Regional Corporation is required by Section 289(1) of the Municipal Act, (hereinafter referred to as the "Act") to adopt yearly estimates of all sums required during the year for the purposes of the Regional Corporation, including the sums required by law to be provided by the Regional Council for any local boards of the Regional Corporation;

AND WHEREAS Section 311 of the Act contemplates that a general upper-tier levy will be raised in each year and that a special upper-tier levy or special upper-tier levies (collectively the "Levy") may be raised in each year on some or all property in the upper-tier municipality rateable for upper-tier purposes;

AND WHEREAS the Council of the Regional Corporation has chosen to delegate to the councils of the area municipalities its authority to establish tax ratios for both regional and municipal purposes, in accordance with By-law 7-2004;

AND WHEREAS such delegation and Ontario Regulation 83/04 effectively prevents the Council of the Regional Corporation from directing the council of each area municipality to levy a separate specified tax rate in order to raise the general upper-tier levy and any special upper-tier levy as otherwise contemplated in Section 311 of the Act;

AND WHEREAS Section 311(11) and (12) of the Act provides that the Council of the Regional Municipality of Peel shall ascertain and by by-law direct what portion of the aforesaid amounts shall be levied against and in each area municipality, on or before specified dates;

AND WHEREAS the cost of policing will be allocated so that the Cities of Mississauga and Brampton will be levied for the cost of the Peel Regional Police, with the allocation of costs to be levied on each municipality's pro rata share of the combined transition ratio weighted assessment for the two municipalities in accordance with the foregoing authority and in accordance with Ontario Regulation 83/04, as amended;

AND WHEREAS the Town of Caledon will be assessed the full cost of providing municipal policing services by the Ontario Provincial Police in accordance with the foregoing authority;

AND WHEREAS the Council of the Regional Corporation has adopted By-law 114-1994 which provides for the establishment of a Waste Management rate to be applied to the weight of waste originating from sources within each area municipality and based upon estimated tonnage amounts, to be requisitioned from each area municipality at the same time as the Levy;

AND WHEREAS the difference between the Waste Management levy established for the prior year based upon estimated tonnage amounts and estimated expenditure amounts and the Waste Management levy that would have been established had the actual tonnage and expenditure amounts for the prior year been used to calculate the levy is to be corrected by an adjustment to the Waste Management levy to be established for the current year;

AND WHEREAS the Regional Council has adopted By-law 8-2004 which enacted an Interim Levy against the area municipalities for the year 2004;

AND WHEREAS the Council of the Regional Corporation has approved the 2004 Current Budget by Resolution 2004-67, on February 12, 2004 and has authorized the enactment of this by-law;

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

1. That a general upper-tier levy in the sum of two hundred and ninety four million, four hundred and eighty three thousand, five hundred and forty five dollars, ($294,483,545) be levied against the area municipalities and that the area municipalities do pay the following apportionment of that total:

2. That special upper-tier levies for Peel Regional Police purposes in the Cities of Brampton and Mississauga and for Ontario Provincial Police purposes in the Town of Caledon in a total amount of two hundred and two million, nine hundred and ten thousand, two hundred and eighty two dollars ($202,910,282) be levied against the area municipalities and that the area municipalities do pay the following:

3. That special upper-tier levies for waste management purposes based upon the estimated weight of waste originating within each area municipality in a total amount of fifty nine million, six hundred and six thousand, one hundred and seventy three dollars ($59,606,173) be levied against the area municipalities on a Waste Management Rate of $140.31 per tonne of estimated weight managed by the Waste Management System and that the area municipalities do pay the following:

4. That the net consolidated general upper-tier levy and special upper-tier levies against each area municipality totalling five hundred and fifty seven million dollars, ($557,000,000) shall be as follows:

5. That the area municipalities shall be entitled to deduct from the consolidated levies in section 4 those monies, excluding interest, previously billed on the Interim Levy pursuant to By-law 8-2004 of the Regional Corporation as follows:

so that the balance owing from each area municipality shall be:

6. That the balance owing be paid to the Regional Corporation in accordance with the following schedule one day after the area municipality's Tax Bill Instalment Due Date to be established by area municipal by-law pursuant to s.342 of the Act:

7. That any amounts not received by 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 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 Region's lead bank's prime rate on the due date plus one and one half percent per annum to a maximum rate of fifteen percent per annum from the date that payment is due to the date that it is received.

8. 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 22nd day of April, 2004.