3176 To authorize the acquisition of certain lands from the Tillsonburg Golf and Country Club and borrowing of funds to pay for the acquisition hereinTHE CORPORATION OF THE TOWN OF TILLSONBURG
BY-LAW 3176
A BY-LAW to authorize the acquisition of certain lands from the Tillsonburg Golf and
Country Club and borrowing of funds to pay for the acquisition herein
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 natural person for the
purpose of exercising its authority under this or any other Act,
AND WHEREAS the Tillsonburg Golf and Country Club has agreed to sell to the
Corporation of the Town of Tillsonburg certain lands as detailed in Schedule "A" to this
By -Law
AND WHEREAS it is deemed expedient to purchase those lands as detailed in Schedule
"A" attached hereto for the purposes of the Corporation to be used in conjunction with
other Municipal Lands owned by the Town.
AND WHEREAS it is the Council's intention to complete negotiations with the
Tillsonburg Golf and Country Club to Lease Back the subject lands and other adjacent
Municipal Lands for the purpose of a Public Golf Course and public recreational trails.
NOW THEREFORE the Council of the Corporation of the Town of Tillsonburg enacts
as follows:
1. That the acquisition of the lands by the Corporation of the Town of Tillsonburg
for municipal purposes as described in Schedule "A" attached are hereby
authorized for the purchase price of $350,000.00.
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 acquisition on a temporary basis with payments from
time to time of interest only as well financing of principle when advisable.
4. That the Mayor and Clerk. are hereby authorized to execute such documents on
behalf of the Town of Tillsonburg to carry out the purchase of the lands herein as
described in Schedule "A" attached hereto.
5. This By -Law shall come into force and effect upon enactment.
READ a First, Second and Third Time, Signed, Sealed and Numbered
3176 this 29th day of August, 2005.
Yoaoo'yor
f
Clerk
The Corporation of the Town of Tillsonburg
BY-LAW NO.
MUNICIPAL ADDRESS
6 John Pound Road
SCHEDULE "A'
LEGAL DESCRIPTION
Part Lot 6, Concession 5
NTR
'► r m L+ n
12.33
46 John Pound Road East Part Lot 1599 29.43
Plan 500