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3123 To authorize the construction of the North Park Storm Water Drainage SystemTHE CORPORATION OF THE TOWN OF TILLSONBURG BY-LAW 3123 A BY-LANN' to authorize the construction of the North Park Storm Water Drainage System WHEREAS pursuant to Section 8 of the Municipal Act, 2001, S.O. 2001, C.25, a municipality has the capacity, rights, powers and privileges of a naturalp erson for the purpose of exercising its authority under this or any other Act, AND WHEREAS it is deemed necessary to constructed a Storm Water Drainage System and Appurtenances to service lands in the north west area of Tillsonburg to be known as the North Park Storm Water Drainage System AND WHEREAS the Council of the Town of Tillsonburg has entered into Subdivision Agreements as authorized by By -Law No.s 3091 and 3092 under date of March 8th , 2004 which in part requires the construction of certain storm drainage works by the Subdivider who has agreed to contribute to a portion of such works servicing lands subject to this Subdivision Agreements as well as other undeveloped lands AND WHEREAS the Development Charges Act provides that a Council may impose development charges to pay for the capital cost of certain works that relates to the provision of services for which there will be an increased need as a result of development of an area. NOW THEREFORE the Council of the Corporation of the Town of Tillsonburg enacts as follows: 1. That the construction of certain Storm Drainage works to be known as the North Park Storm Drainage System as described in Schedule "A" attached to this By - Law be authorized. 2. That Schedule "A" hereto attached is declared to be part of this by-law as if written and incorporated herein. 3. That the Treasurer may agree and arrange with any bank, person or the County of Oxford for financing of this project on a temporary basis with payments from time to time of interest only. 4. That the Mayor and Clerk are hereby authorized to execute such documents on behalf of the Town of Tillsonburg to carry out the construction of these works including such construction contracts as required. 5. That this Council state its intention to recover the costs of the works herein including such administration, consultant and interest charges pursuant to the Development Charges Act on an Area Specific Basis. 6. This fay-L,aw shall come into force and effect upon enactment. READ a First, Second and Third Time, Signed, Sealed and Numbered 3123 this 9th day of August, 2004. M or Cl��k