Administration Finance Committee

Resolved that Report TC-10-02 dated March 1, 2010, be received and the 2010 Municipal Election Budget in the gross amount of $87,640 and a levy of $35,830 be approved for consideration in the overall budget.

Resolved that as and when the current Downtown Grant application for the Downtown Project is approved, Town Page 1 of 3 ADMINISTRATION & FINANCE March 29, 2010 Funding in the sum of $50,000 per annum be obtained from the Budget Contingency.

Resolved, that Report TM-10-04 dated March 19, 2010 regarding the 2010 Consolidated Budget be received; and 1. That the Consolidated Budget Summary appearing as Schedule A to Report TM-10-04 be approved and that the 2010 general tax levy of $7,483,950 and a capital tax levy of $783,500 resulting in a total levy of $8,267,450 be included in the 2010 Tax Rate By-law; and 2. That the 2010 Tax Rate By-law be developed and presented as soon as practicable; and 3. That payment of the actual costs applicable to the debenture financing of the Grimsby Library/Art Gallery and the Peach King Centre be derived from the interest and related payments provided to the Town through a Promissory Note with Grimsby Power Inc.; and 4. That for purposes of certainty and direction the amounts assessed to the operating budget for payment of the debentures identified in recommendation 3 are to be removed at the expiration of the debenture period (the year 2014). Moved that Clause 1 from the preceding Resolution be amended by deleting $7,483,950 and $8,267,450 and substituting $7,268,975 and $8,052,475 respectively. RECORDED VOTE requested by Alderman Cruickshank Nay - Aldermen Andreychuk, Berry and Mayor Bentley Yea - Aldermen Cruickshank, Fertich