CITY OF REVELSTOKE
BYLAW No. 1819
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Being a Bylaw to authorize the borrowing of the estimated cost of Construction of remedial works on Airport Way
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Whereas the Council of the City of Revelstoke deems it necessary to construct remedial works on Airport way.
And Whereas the estimated cost of carrying out the construction of the remedial works on Airport Way, including related contingencies and incidental expenses is $250,000 (Two Hundred and Fifty Thousand Dollars), and that the debt intended to be created by this bylaw is $250,000 (Two Hundred and Fifty Thousand Dollars).
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 the construction of the remedial works on Airport Way 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 $250,000 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 the remedial works on Airport Way.
2. TERM OF DEBENTURE
The maximum term for which debentures may be issued to service the debt caused by this bylaw is 25 (twenty five) years;
3. TITLE:
This bylaw may be cited for all purposes as the “City of Revelstoke Remedial Works On Airport Way Construction Loan Authorization Bylaw No. 1819 ”
READ A FIRST TIME THIS 10th day of April, 2006.
READ A SECOND TIME THIS 10th day of April, 2006.
READ A THIRD TIME THIS 10th day of April, 2006.
RECEIVED the approval of the Inspector of Municipalities this 2nd day of May, 2006.
RECEIVED the approval of the electors of the City of Revelstoke on this 26th day of June, 2006
ADOPTED THIS 26th day of June, 2006.
Director of Corporate AdministrationMayor
Certified a true copy, this day of , .
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