THE REGIONAL MUNICIPALITY OF PEEL
 
BY-LAW NUMBER 22-2007
 
A by-law to allocate federal gas tax revenue funds to the City of Brampton, the City of Mississauga and the Town of Caledon for the year 2007.

WHEREAS the Region has entered, with The Association of Municipalities of Ontario, a Municipal Funding Agreement for the Transfer of Federal Gas Tax Revenues under the New Deal for Cities and Communities, dated as of the 20th day of December, 2005;

AND WHEREAS the Region wishes to allocate to the City of Brampton, the City of Mississauga and the Town of Caledon, a portion of the funds the Region is entitled to under the said Agreement for the year 2007;

AND WHEREAS Section 6.2 of the above-mentioned agreement requires the Region to pass a By-law in order to allocate such funds;

NOW THEREFORE Be it Resolved that the Council of The Regional Municipality of Peel enacts as follows:

1. That the Region hereby allocate $11,984,469.84 of the funds under the Municipal Funding Agreement for the Transfer of Federal Gas Tax Revenues under the New Deal for Cities and Communities, for 2007, subject to the execution of indemnification agreements in a form substantially as attached hereto as Schedule "A", to the City of Brampton, City of Mississauga and Town of Caledon (the "Eligible Recipients") as follows:

Mississauga
Brampton
Caledon
Total
July 2007
$3,455,309.13
$2,242,070.26
$294,855.53
$5,992,234.92
November 2007
3,455,309.13
2,242,070.26
294,855.53
5,992,234.92
 



Total
$6,910,618.26
$4,484,140.52
$589,711.06
$11,984,469.84
 
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2. And further, that the funds allocated under this By-law shall be transferred to the Eligible Recipients only when actually received by The Regional Municipality of Peel, in the same proportions as set out herein.

3. That Schedule "A" shall form part of this By-law.


READ THREE TIMES AND PASSED IN OPEN COUNCIL this 29th day of March, 2007.

 

C. Gravlev
________________________

Regional Clerk

E. Kolb
______________________

Regional Chair

 

Schedule A is available in Clerk's Division