Expanding Public Transit By-law

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WHEREAS the Municipal Act, 2001, S.O. 2001 c. 25, as amended, authorizes Municipalities to enter into agreements;

1. THAT the Corporation of the Town of Collingwood be hereby authorized to enter into an Agreement between Her Majesty the Queen in right of the Province of Ontario, represented by the Minister of Transportation for the Province of Ontario (the “Ministry”) and the Town of Collingwood (the “Municipality”), for receipt of funding in the amount of $66,498.00 as committed through the Province’s 2007 Economic Outlook and Fiscal Review (Fall Economic Statement) Statement, with the funding to be:

   i)          Used for Municipal Transit Capital Expenditures
   ii)         Audited by the Municipality’s external auditor and reported to the Ministry on
              an annual basis; and
   iii)         Deducted, in full or in part, from future provincial transit funding allocations, if
              the municipality is found to not be incompliance with the terms set out above.

2. THAT this By-law shall come into full force and effect on the date of final passage hereof at which time all By-laws that are inconsistent with the provisions of this By-law and the same are hereby repealed insofar as it is necessary to give effect to the provisions of this By-law.