Bylaw No. 1052, 2024 Fire Hall Loan Authorization Bylaw
What this bylaw is for
The bylaw text
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TOWN OF PRINCETON
BYLAW 1052, 2024
FIRE HALL LOAN AUTHORIZATION BYLAW, 2024
WHEREAS it is deemed desirable and expedient to borrow for the purposes of constructing a fire hall and training facility for the use of the Princeton Volunteer Fire Department; AND WHEREAS the estimated cost of constructing the fire hall and training facility including expenses incidental is the sum of four million, five hundred thousand dollars ($4,500,000), of which the sum of one million, three hundred eighty-nine thousand, eighty-six dollars ($1,389,086) is the amount of debt intended to be borrowed by this bylaw; NOW THEREFORE, the Council of the Town of Princeton, in open meeting assembled, enacts as follows:
1. The Council is hereby empowered and authorized to undertake and carry out or cause to
be carried out the design, construction and operation of a new Fire Hall and Training Complex to be located at 322 Laurie Currie Way and to do all things necessary in connection therewith and without limiting the generality of the foregoing: a. To borrow upon the credit of the Municipality a sum not exceeding one million, three hundred eight-nine thousand, eighty-six dollars ($1,389,086). b. To acquire all such real property, easements, rights -of-way, licenses, rights or authorities as may be requisite or desirable for or in connection with brief description of purpose of borrowing.
2. The maximum term for which debentures may be issued to secure the debt created by
this bylaw is thirty (30) years.
3. This bylaw may be cited as “Fire Hall Loan Authorization Bylaw No. 1052, 2024”.
READ A FIRST TIME THIS 20th day of November 2024 READ A SECOND TIME THIS 20th day of November 2024 READ A THIRD TIME THIS 20th day of November 2024 RECEIVED THE APPROVAL OF THE INSPECTOR OF MUNICIPALITIES THIS 24th day of February 2025 RECEIVED THE APPROVAL OF THE ELECTORS THIS 22nd day of April 2025 ADOPTED THIS 7th day of May 2025
Mayor Spencer Coyne CAO Lyle Thomas
Original signed by Mayor Coyne Original signed by CAO Thomas