51-16

A BY-LAW TO ENTER INTO AN ASSET DONATION AGREEMENT TO ACQUIRE THE ABANDONED RAILWAY CORRIDOR BETWEEN SMITHS FALLS, ONTARIO AND MATTAWA, ONTARIO FROM THE CANADIAN PACIFIC RAILWAY COMPANY (2016)

WHEREAS sections 6(1) and 8 of the Municipal Act, 2001, S.O. 2001, c. 25, as amended, a municipality may pass by-laws to acquire land;

AND WHEREAS the Corporation of the County of Renfrew requires land for the purpose of a recreational trail;

NOW THEREFORE the Council of the Corporation of the County of Renfrew does hereby enact as follows:

1. The Asset Donation Agreement annexed hereto as Appendix “A” (together with its schedules) as incorporated herein forms a part hereof of this By-law.

2. The Warden and Clerk are hereby authorized to enter into said Asset Donation Agreement with Canadian Pacific Railway Company, and to do or cause to be done all such manner or act or thing as may be required to give full force and effect to said Asset Donation Agreement and to complete same.

3. That the cash outlay required to complete the entire said Asset Donation Agreement including monetary consideration, incidental expenses, applicable taxes and survey costs related thereto, shall be taken from the Working Capital Reserve.

4. That this By-law shall come into force and take effect immediately upon the final passing thereof.

READ a first time this 28th day of April, 2016.

READ a second time this 28th day of April, 2016.

READ a third time and finally passed this 28th day of April, 2016.

________________________                                _________________________ 
PETER R. EMON, WARDEN                                     W. JAMES HUTTON, CLERK