CITY OF REVELSTOKE
BYLAW No. 1904
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Being a Bylaw to Authorize the Borrowing of the Estimated Cost of Construction of New Sewer Headworks
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WHEREAS the Council of the City of Revelstoke deems it necessary to construct new sewer headworks.
AND WHEREAS the estimated cost of carrying out the construction of the new sewer headworks, including related contingencies and incidental expenses is $1,500,000 (One Million Five Hundred Thousand dollars), and that the debt intended to be created by this bylaw is $1,500,000 (One Million Five Hundred 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 new sewer headworks 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 $1,500,000 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 new sewer headworks.
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 “New Sewer Headworks Loan Authorization Bylaw No. 1904”.
READ A FIRST TIME THIS 11th day of February, 2008.
READ A SECOND TIME THIS 11th day of February, 2008.
READ A THIRD TIME THIS 11th day of February, 2008.
RECEIVED THE APPROVAL OF THE INSPECTOR OF MUNICIPALITIES THIS 4th day of March, 2008.
ADOPTED THIS 28th day of April, 2008.
Director of Corporate AdministrationMayor
Certified a true copy this day of ,_________________.
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