|THE REGIONAL MUNICIPALITY OF PEEL|
|BY-LAW NUMBER 14- 2006|
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 years 2005 and 2006.
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, the funds the Region is entitled to under the said Agreement for the years 2005 and 2006;
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 100% 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 2005 and 2006, 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 March 2006 $5,975,824.13 $3,172,819.67 $493,285.18 $9,641,928.98 July 2006 2,987,912.06 1,586,409.83 246,642.60 4,820,964.49 November 2006 2,987,912.06 1,586,409.83 246,642.60 4,820,964.49 Total $11,951,648.25 $6,345,639.33 $986,570.38 $19,283,857.96
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 FINALLY PASSED IN OPEN COUNCIL this 16th day of February, 2006.
Schedule "A" to By-law 14-2006 available in Clerk's