CITY OF REVELSTOKE
BYLAW NO. 1636, 2000
A Bylaw to authorize the borrowing of the estimated cost of Road reconstruction and rehabilitation
WHEREAS Council of the City of Revelstoke deems it necessary to reconstruct and rehabilitate roads.
AND WHEREAS the estimated cost of carrying out the construction of the reconstruction works, including related contingencies and incidental expenses is $725,0000 (Seven Hundred and Twenty-five Thousand Dollars), and that the debt intended to be created by this bylaw is $725,000 (Seven Hundred and Twenty-five Thousand Dollars).
AND WHEREAS the amount of the assessed value for general municipal purposes of the taxable land and improvement for the current year and for each of the two years immediately preceding the current year were: 2000 = $349,147,515 1999 = $348,718,068 1998 = $356,273,598
AND WHEREAS the depreciated value as at the 31st day of December 1999 of utility systems and other municipal enterprises was $14,023,589.
AND WHEREAS the amount of the authorized and outstanding debenture debt of the municipality as at December 31, 1999 was $3,600,000 (Three million and Six Hundred Thousand Dollars) of which nil is existing outstanding debenture debt and $3,600,000 is authorized and unissued debenture debt, and none of the principal or interest of the debenture debt of the municipality is in arrears;
AND WHEREAS the maximum term for which debentures may be issued to service the debt created by this bylaw is 20 (twenty) years;
NOW THEREFORE the Council of the City of Revelstoke, in open meeting assembled enacts as follows:
1. LOAN AUTHORIZATION
(1) The Council is hereby empowered and authorized to undertake and carry out or cause to be carried out reconstruction of Second Street and Rokeby Avenue in accordance with plans on file at City Hall and to do all things necessary in connection therewith and without limiting the generality of the foregoing:
(a) the borrowing upon the credit of the Municipality a sum not exceeding $725,000 and
(b) the acquisition of property, easements, right-of-way, licenses, rights or authorities as may be requisite or desirable for or related to the construction of a works.
City of Revelstoke Road Reconstruction and Rehabilitation Loan Authorization Bylaw No. 1636, 2000 Page 2
2. TITLE:
This bylaw may be cited for all purposes as the "City of Revelstoke Road Reconstruction and Rehabilitation Loan Authorization Bylaw No. 1636, 2000."
READ A FIRST TIME THIS 10th DAY OF APRIL, 2000
READ A SECOND TIME THIS 10th DAY OF APRIL, 2000
READ A THIRD TIME THIS 10th DAY OF APRIL, 2000
Certified a True Copy of the City of Revelstoke Road Reconstruction and Rehabilitation Loan Authorization Bylaw #1636, 2000 at Third Reading
Don H. DeGagne
Director of Corporate Administration
APPROVED by the INSPECTOR OF MUNICIPALITIES on the 8th DAY OF MAY, 2000
ADOPTED THIS 26th DAY OF JUNE, 2000
_______________________________ _______________________________
Director of Corporate Administration Mayor
Certified a true copy this _____ day of _________, _____.
_______________________________
Director of Corporate Administration
This is Exhibit "A" to the declaration of
Don H. DeGagne sworn before me at
Revelstoke, British Columbia this day
of ____________ , 2000.
____________________________________
A Commissioner for taking affidavits for
British Columbia or a Notary Public in and
for the Province
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