THE REGIONAL MUNICIPALITY OF PEEL
 
BY-LAW NUMBER 43-2007
 

A by-law to authorize the execution of a Letter of Agreement related to funding under the Ontario Bus Replacement Program ("OBRP") and to authorize the establishment of a dedicated reserve fund for the OBRP funding.

WHEREAS in March 2007 the Province of Ontario announced a new multi-year capital funding program, the Ontario Bus Replacement Program ("OBRP"), to replace the former Ontario Transit Vehicle Program (OTVP), and to support the replacement of aging municipal transit buses;

AND WHEREAS ORBP funding is only available to municipalities to offset the municipal share of the costs of replacing existing transit buses;

AND WHEREAS there is a Letter of Agreement between Her Majesty the Queen in right of the Province of Ontario, as represented by the Minister of Transportation for the Province of Ontario ("the Province") and the Regional Municipality of Peel ("the Region"), which incorporates by reference the OBRP 2007 Guidelines and Requirements ("the Guidelines"), and which sets out the terms and conditions of the ORBP funding;

AND WHEREAS for the year 2007, the Region is estimated to receive OBRP funding up to a maximum amount of $102,564 for TransHelp service in accordance with and subject to the terms and conditions set out in the Letter of Agreement and the Guidelines;

AND WHEREAS the Region will receive the payment for 2007 upon the Province's receipt of the executed Letter of Agreement, a copy of the supporting by-law herein, and a certified copy of a binding agreement between the Region and a manufacturer of transit buses for the purchase of such transit buses to be delivered in 2007;

AND WHEREAS the Guidelines require that OBRP funds, including all interest earned, be kept in an OBRP capital reserve account and remain the property of the Province pending payment of costs for eligible expenditures;

AND WHEREAS for each program year the Province will provide the Region with OBRP funding, limited to the municipality's allocation, after receipt and approval of all required documentation, and any other information the Province may require;

AND WHEREAS the Region will be accountable for the use of OBRP funds and will be required to report prior to March 31, 2008 indicating the disbursements of OBRP funding, the balance of the OBRP capital reserve account and a description of the transit buses replaced during 2007 and thereafter on an annual basis;

AND WHEREAS commencing in 2007, the Region will be required to provide a transit bus inventory and develop a five-year capital plan for transit bus replacement to be submitted by June 15th of the year preceding the program year for which OBRP funding is requested as the basis for receiving future OBRP funds;

AND WHEREAS the Region will also be required to participate in installing and maintaining visual identity signage as well as in arranging and providing notice for announcements and events for funding received under the OBRP;

AND WHEREAS Council of the Regional Corporation has by resolution adopted on May 31, 2007 authorized the Regional Chair and Treasurer and Commissioner of Finance to execute the Letter of Agreement between the Province and the Region related to funding provided under the OBRP, in the form attached as Appendix 1 to the Report from the Acting Commissioner of Social Services and the Treasurer and Commissioner of Finance, dated May 7, 2007 titled "Ontario Bus Replacement Program Funding Allocation";

AND WHEREAS Council of the Regional Corporation has by resolution adopted on May 31, 2007 authorized staff to establish a dedicated reserve fund into which the OBRP funds will be deposited and from which the OBRP funds will be withdrawn and used for eligible OBRP expenditures;

AND WHEREAS Council of the Regional Corporation has by resolution adopted on May 31, 2007 authorized the enactment of a by-law to establish the said OBRP dedicated reserve fund;

NOW THEREFORE the Council of the Regional Corporation enacts as follows:

  1. The Regional Chair and the Treasurer and Commissioner of Finance are hereby authorized to execute the Letter of Agreement between the Province of Ontario and the Regional Municipality of Peel related to funding provided under the Ontario Bus Replacement Program ("OBRP") in the form attached hereto as Schedule A to this By-law.

  2. A dedicated reserve fund account shall hereby be established into which the OBRP funds will be deposited and from which the OBRP funds will be withdrawn and used for eligible OBRP expenditures.

  3. This By-law takes effect on the day that it is passed.

READ THREE TIMES AND PASSED IN OPEN COUNCIL this 31st day of May, 2007.

 

 

C. Gravlev
________________________

Regional Clerk

E. Kolb
______________________

Regional Chair

Schedule A to By-law 43-2007 is available in Clerk's