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Water Improvements Loan Authorization Bylaw No. 981, 2013

This page was last reviewed on February 26, 2015.

BYLAW NO. 981

A bylaw to authorize the borrowing of money for the capital cost of improvements to the Community Drinking Water System.

The Council of the Corporation of the Village of Cumberland in open meeting assembled enacts as follows:

1. This Bylaw is cited as “The Corporation of the Village of Cumberland Water Improvements Loan Authorization Bylaw No. 981, 2013”.

2. The Corporation of the Village of Cumberland is empowered and authorized to borrow upon its credit a sum not to exceed $1,300,000 for the purpose of undertaking the following water system improvement projects:

(a) Stevens Lake dam stability reconstruction at a cost of $560,000,

(b) Cumberland No. 2 dam stability reconstruction at a cost of $450,000, and

(c) the construction of an ultraviolet sterilization water treatment system at a cost of $290,000.

3. The maximum term for which the debentures may be issued is 30 years.

READ A FIRST TIME THIS 25TH DAY OF FEBRUARY, 2013.

READ A SECOND THIS 25TH DAY OF FEBRUARY, 2013.

READ A THIRD TIME THIS 11TH DAY OF MARCH , 2013.

APPROVED BY THE INSPECTOR OF MUNICIPALITIES THE 9TH DAY OF APRIL , 2013.

RECEIVED THE APPROVAL OF THE ELECTORS THIS DAY OF , 2013.

ADOPTED THIS DAY OF , 2013.

______________ ____________________

Mayor Corporate Officer

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