THE REGIONAL MUNICIPALITY OF PEEL
 
BY-LAW NUMBER 73-2008
 

A by-law to requisition from the lower-tier municipalities a sum not exceeding 50 per cent of the amount that in By-law 36-2008 was to be raised in each lower-tier municipality, before the adoption of the final Regional estimates for the year 2009.


WHEREAS by Section 316(1) of the Municipal Act, 2001, S.O. 2001, c. 25 Regional Council may before the adoption of estimates for the year, requisition a sum from each lower-tier municipality not exceeding an amount determined by,

 
(a)
 adding the prescribed percentage (or 50 per cent if no percentage is prescribed) of the amount that, in the upper-tier rating by-law for the previous year, was estimated to be raised in the particular lower-tier municipality;
     
 
(b)
 subtracting the prescribed percentage (or 50 per cent if no percentage is prescribed) of the upper-tier municipality's share of the costs, for the previous year, of deferrals, cancellations or other relief under a by-law under Sections 319, 361, 362 or 364; and
     
 
(c)
 adding the prescribed percentage (or 50 per cent if no percentage is prescribed) of the upper-tier municipality's share of any taxes, deferred under a by-law under subsection 319(1), that were due in the previous year;


AND WHEREAS Council has by resolution adopted on the 4th of December, 2008 authorized the presentation of this by-law for enactment;

NOW THEREFORE be it resolved, that the Council of the Regional Corporation enacts as follows:

  1. That a requisition be and the same is hereby made in respect of the year 2009 from the lower tier municipalities as follows:

    Municipality Requisition
       
    City of Mississauga
    $ 224,246,738
    City of Brampton
    118,430,040
    Town of Caledon
    17,836,722
    Total
    $ 360,513,500

  2. That the payments to the Regional Corporation under this by-law shall be made, in accordance with Section 316(2) of the Municipal Act, 2001 as follows:

    Instalment
    Due Date
    Mississauga
    Brampton
    Caledon
    1
    		 January 15
    $ 9,352,079
    		   
    2
    		 February 16
    $ 9,336,546
    		   
    3
    		 February 19
    $ 39,476,680
    		 
    4
    		 March 6
    $ 111,234,742
    		 
    5
    		 March 16
    $ 9,420,483
    		 
    6
    		 March 26
    $ 39,476,680
    		 
    7
    		 April 1
    $ 8,918,361
    8
    		 April 3
    $ 28,259,967
    9
    		 April 15
    $ 9,438,030
    10
    		 April 23
    $ 39,476,680
    11
    		 May 8
    $ 28,327,654
    12
    		 May 15
    $ 9,438,496
    13
    		 May 27
    $ 8,918,361
    14
    		 June 15
    $ 9,438,741
    		 

  3. 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 prime rate of the Region's bank on the due date plus 1½ per cent per annum to a maximum rate of 15 per cent per annum.

  4. That the Chief Financial Officer is hereby directed and authorized to do all acts necessary to collect these amounts.

 

 

READ THREE TIMES AND PASSED IN OPEN COUNCIL this 11th day of December, 2008.


 

J. Payne
________________________

Deputy Clerk

E. Kolb
______________________

Regional Chair

 

Schedule "A" to By-law 51-2008 (pdf.file)

Schedule "B" to By-law 51-2008 (pdf. file)