hordruma/ontario_laws_and_regs huggingface dataset:
PART XIII DEBT AND INVESTMENT
410.
410 (1) If a municipality establishes a sinking fund committee, the committee, (a)  shall manage the sinking fund and retirement funds established by the municipality under section 409; (b)  shall invest money in those funds in any securities that the municipality that established the committee is permitted to invest in, including approving or not approving any investment or disposition of that investment; and (c)  may apply balances or other amounts in accordance with section 409.  2006, c. 32, Sched. A, s. 178. Application (2) This section does not apply to a municipality if section 418.1 applies to the municipality. 2017, c. 10, Sched. 1, s. 70. Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 178 - 01/01/2007 2017, c. 10, Sched. 1, s. 70 - 01/03/2018
PART XIII DEBT AND INVESTMENT
411.
411 (1) Subject to this Act, a prescribed municipality may issue debentures or prescribed classes of them expressed and payable in one or more prescribed foreign currencies, subject to the prescribed rules.  2001, c. 25, s. 411 (1). Same (2) A debenture issued under subsection (1) may provide for payment of interest, premium and principal in one or more prescribed foreign currencies, in Canadian dollars, or a combination of any of them.  2001, c. 25, s. 411 (2). Estimated amounts (3) A by-law passed under this section may provide for raising or paying an estimated amount in a year, despite other provisions in this Act requiring that a specific amount be raised or paid.  2001, c. 25, s. 411 (3). Variation (4) The estimated amount may vary from year to year.  2001, c. 25, s. 411 (4). Regulations (5) The Lieutenant Governor in Council may make regulations, (a)  prescribing the foreign currencies in which debentures may be issued; (b)  prescribing municipalities or classes of them that may issue debentures under this section; (c)  prescribing other requirements that municipalities must meet to issue debentures under this section; (d)  prescribing rules for the purposes of subsection (1); (e)  requiring a municipality to enter into financial agreements in the manner and with the persons prescribed; (f)  prescribing additional powers that a municipality may exercise in issuing debentures expressed and payable in foreign currency.  2001, c. 25, s. 411 (5). Classes (6) A regulation under subsection (5) may apply to one or more classes of municipalities and may treat different classes of municipalities differently.  2001, c. 25, s. 411 (6).
PART XIII DEBT AND INVESTMENT
412.
412 (1) A by-law for the issue of debentures shall specify a fixed rate of interest unless otherwise permitted by this Act.  2001, c. 25, s. 412 (1). Amending issuing by-law (2) A municipality may amend a debenture by-law to provide for, (a)  a different rate of interest; (b)  a change in the amount to be raised annually because of the different interest rate; and (c)  other changes in any by-law necessary to give effect to the amending by-law.  2001, c. 25, s. 412 (2). Use as security not a sale (3) For the purposes of subsection (2), the use of debentures as security for temporary borrowing does not prevent a council from passing by-laws under subsection (2) with respect to those debentures.  2001, c. 25, s. 412 (3). Special levies (4) A by-law passed under subsection (2) does not affect, (a)  the validity of any by-law under which amounts are raised for the repayment of debentures; or (b)  the power of the council to continue to levy or collect any instalments.  2001, c. 25, s. 412 (4). Variable rate (5) Despite this or any other Act, a prescribed municipality may pass a by-law for the issue of debentures providing for variations in the rate of interest or classes of rates of interest and for the payment of other amounts in accordance with the prescribed rules.  2001, c. 25, s. 412 (5). Estimate of amount to be raised (6) A by-law passed under subsection (5) may provide for raising or paying an estimated amount in a year, despite provisions in this or any other Act requiring that a specific amount be raised or paid.  2001, c. 25, s. 412 (6). Variation (7) The estimated amount may vary from year to year.  2001, c. 25, s. 412 (7). Regulations (8) The Lieutenant Governor in Council may make regulations, (a)  prescribing municipalities or classes of municipalities for the purpose of subsection (5); (b)  prescribing rules for the purpose of subsection (5).  2001, c. 25, s. 412 (8).
PART XIII DEBT AND INVESTMENT
413.
413 (1) Except as provided in section 409 and this section, money received by a municipality from the sale of debentures, including any premium, and any earnings derived from the investment of that money, shall be applied only for the purposes for which the debentures were issued or for repayment of outstanding temporary borrowing under section 405 or 406 with respect to those debentures.  2009, c. 18, Sched. 18, s. 9. Money not required (2) If the money described in subsection (1) is in excess of or is not required for the purposes for which the debentures were issued, it shall be applied, (a)  to repay the principal or interest of the debentures; or (b)  to repay any other capital expenditure of the municipality if the debt charges for the other expenditure are or will be raised from the same class of ratepayers from which the amounts required for the repayment of the debentures are raised.  2001, c. 25, s. 413 (2). Reduction of levies, etc. (3) A municipality may reduce an amount to be raised for the repayment of debentures to the extent that an amount applied in accordance with subsection (2) is sufficient to repay the principal and interest of the debentures on the date or dates they are payable.  2001, c. 25, s. 413 (3). Full amount recoverable (4) The full amount of a debenture is recoverable even if it was negotiated at a discount by a municipality.  2001, c. 25, s. 413 (4). Special case (5) Despite subsection (1), payments made under the Ontario Municipal Employees Retirement System Act
or the Ontario Municipal Employees Retirement System Act, 2006 with respect to past service may be provided for by the issue of debentures.  2006, c. 32, Sched. A, s. 179. Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 179 - 01/01/2007 2009, c. 18, Sched. 18, s. 9 - 05/06/2009
PART XIII DEBT AND INVESTMENT
414.
414 (1) Subject to this Act, after a debt has been contracted under a by-law, the municipality shall not, until the debt and interest have been paid, (a)  repeal the by-law or any by-law appropriating money from any source for the payment of the debt or the interest including the surplus income from any work financed by the debt; or (b)  alter any by-law referred to in clause (a) so as to diminish the amount to be raised annually.  2001, c. 25, s. 414 (1). Repeal where only part of amount raised (2) If a debenture by-law authorizes a municipality to raise an amount but the amount realized from the sale or loan of the debentures is less that the amount authorized, the municipality may repeal the debenture by-law with respect to the unused debentures and with respect to any amount that would have been required to be raised annually to repay the unused debentures.  2001, c. 25, s. 414 (2). (3) Repealed:  2006, c. 32, Sched. A, s. 180. Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 180 - 01/01/2007
PART XIII DEBT AND INVESTMENT
415.
415 (1) Within four weeks after the passing of a debenture by-law, the clerk may register a duplicate original or a certified copy of the by-law under seal of the municipality in any land registry division in which the municipality is located.  2001, c. 25, s. 415 (1). Application to quash (2) Subject to section 474.10.10, if a by-law is registered under subsection (1) before the sale or other disposition of the debentures issued under it, (a)  the debentures are valid according to the terms of the by-law; and (b)  the by-law shall not be quashed unless, within three months after the registration, an application is made to a competent court to quash the by-law and a certified copy of the application under seal of the court is registered in the land registry office within that period.  2001, c. 25, s. 415 (2); 2017, c. 23, Sched. 5, s. 57; 2021, c. 4, Sched. 6, s. 64 (5). Timing (3) After the expiration of the period referred to in clause (2) (b), if no application to quash the by-law has been made, the by-law is valid.  2001, c. 25, s. 415 (3). Quashing part of by-law (4) If application is made to quash only part of a by-law, the remainder of the by-law is valid after the expiration of the period referred to in clause (2) (b).  2001, c. 25, s. 415 (4). Dismissal of application (5) If the application is dismissed in whole or in part, a certificate of the dismissal may be registered and, if the period referred to in clause (2) (b) has expired, the by-law or so much of it as is not quashed is valid.  2001, c. 25, s. 415 (5). Illegal by-law not validated (6) Nothing in this section makes valid a by-law that requires but has not received the assent of the electors or a by-law which, on the face of it, does not substantially conform to the requirements set out in subsections 408 (3) and (4).  2001, c. 25, s. 415 (6). Failure to register (7) Failure to register a by-law as prescribed by this section does not invalidate it.  2001, c. 25, s. 415 (7). Section Amendments with date in force (d/m/y) 2017, c. 23, Sched. 5, s. 57 - 03/04/2018 2021, c. 4, Sched. 6, s. 64 (5) - 01/06/2021
PART XIII DEBT AND INVESTMENT
417.
417 (1) If a local board, conservation authority or any other body exercising a power with respect to municipal affairs under any Act in unorganized territory does not have power under another Act or another section of this Act to establish and maintain a reserve fund, it may, under this subsection, provide in its budget for the establishment or maintenance of a reserve fund for any purpose for which it has authority to spend money.  2006, c. 32, Sched. A, s. 181; 2009, c. 34, Sched. I, s. 22. Approval (2) If the approval of a municipality is required by law for a capital expenditure or the issue of debentures by or on behalf of a local board, the local board must obtain the approval before providing for a reserve fund for those purposes in its budget.  2001, c. 25, s. 417 (2). Investment (3) The money raised by a body exercising a power with respect to municipal affairs under any Act in unorganized territory for a reserve fund shall be paid into a special account and may be invested only in the securities or classes of securities prescribed.  2001, c. 25, s. 417 (3). Expenditure of reserve funds (4) A municipality may by by-law provide that the money raised for a reserve fund established under subsection (1) may be spent, pledged or applied to a purpose other than that for which the fund was established.  2001, c. 25, s. 417 (4). Regulations (5) The Lieutenant Governor in Council may make regulations prescribing securities or classes of securities for the purpose of subsection (3).  2001, c. 25, s. 417 (5). Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 181 - 01/01/2007 2009, c. 34, Sched. I, s. 22 - 01/09/2010
PART XIII DEBT AND INVESTMENT
418.
418 (1) A municipality may invest in prescribed securities, in accordance with the prescribed rules, money that it does not require immediately including, (a)  money in a sinking, retirement or reserve fund; (b)  money raised or received for the payment of a debt of the municipality or interest on the debt; and (c)  proceeds from the sale, loan or investment of any debentures.  2001, c. 25, s. 418 (1). Application (1.1) This section does not apply to a municipality if section 418.1 applies to the municipality. 2017, c. 10, Sched. 1, s. 71. Repayment (2) An investment under subsection (1) shall be made repayable on or before the day on which the money is required and any earnings derived from the investment shall be credited to the fund from which the money was invested.  2001, c. 25, s. 418 (2). Combined investments (3) A municipality may combine money held in any fund and deal with the money in accordance with subsection (1).  2001, c. 25, s. 418 (3). Allocation (4) Earnings from combined investments shall be credited to each separate fund in proportion to the amount invested from it.  2001, c. 25, s. 418 (4). (5) Repealed:  2006, c. 32, Sched. A, s. 182 (1). Regulations (6) The Lieutenant Governor in Council may make regulations, (a)  prescribing rules for the purpose of subsection (1); (b)  prescribing and defining securities or classes of them for the purpose of subsection (1); (b.1)  prescribing and defining financial instruments and agreements that municipalities may issue or enter into for or in relation to investments under subsection (1); (c)  providing that a municipality does not have power to invest in securities or classes of securities specified in the regulation.  2001, c. 25, s. 418 (6); 2006, c. 32, Sched. A, s. 182 (2). Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 182 (1, 2) - 01/01/2007 2017, c. 10, Sched. 1, s. 71 - 01/03/2018
PART XIII DEBT AND INVESTMENT
420.
420 (1) A power given to a municipality under this Act to invest money includes the power to enter into an agreement for the investment of money with any other municipality or with, (a)  a public hospital; (b)  a university in Ontario that is authorized to operate under section 3 of the Post-Secondary Education Choice and Excellence Act, 2000; (c)  a college established under the Ontario Colleges of Applied Arts and Technology Act, 2002; (d)  a school board; or (e)  any agent of an institution described in clauses (a) to (d).  2001, c. 25, s. 420 (1); 2017, c. 10, Sched. 1, s. 73 (1). Application (1.1) This section does not apply to a municipality if section 418.1 applies to the municipality. 2017, c. 10, Sched. 1, s. 73 (2). Regulations (2) The Minister may make regulations, (a)  prescribing additional persons or bodies or any class of them with which a municipality may enter into investment agreements; (b)  prescribing conditions to be satisfied before a municipality may enter into an investment agreement with a person or body or class of either of them prescribed under clause (a).  2001, c. 25, s. 420 (2). Section Amendments with date in force (d/m/y) 2017, c. 10, Sched. 1, s. 73 (1) - 30/05/2017; 2017, c. 10, Sched. 1, s. 73 (2) - 01/03/2018
PART XIII DEBT AND INVESTMENT
421.
421 (1) A municipality may lend any securities held by it if the loan is fully secured by cash or by securities prescribed in subsection 418 (6).  2001, c. 25, s. 421 (1). Loan of securities, where s. 418.1 applies (1.1) This section does not apply to a municipality if section 418.1 applies to the municipality. 2017, c. 10, Sched. 1, s. 74. Regulations (2) The Minister may make regulations establishing conditions for lending securities under subsection (1).  2001, c. 25, s. 421 (2). Section Amendments with date in force (d/m/y) 2017, c. 10, Sched. 1, s. 74 - 01/03/2018
PART XIII DEBT AND INVESTMENT
422.
422 Every officer of a municipality whose duty it is to carry into effect any provision of a by-law for the borrowing of money who neglects or refuses to do so is guilty of an offence, even if the reason the officer neglects or refuses to fulfil his or her duty is the apparent authority to do so under a by-law that is illegally attempting to repeal or amend the borrowing by-law.  2001, c. 25, s. 422.
PART XIII DEBT AND INVESTMENT
423.
423 (1) A member of a municipal council who knowingly votes to authorize the borrowing of any amount larger than permitted under section 407 is disqualified from holding any municipal office for two years.  2001, c. 25, s. 423 (1). Exception (2) Subsection (1) does not apply to a member of council acting under an order or direction issued under Part III of the Municipal Affairs Act.  2001, c. 25, s. 423 (2).
PART XIII DEBT AND INVESTMENT
424.
424 (1) If a council applies any money raised for a special purpose or collected for a sinking or retirement fund otherwise than permitted by this Act, each member who votes for the application, (a)  is personally liable for the amount so applied which may be recovered in a court of competent jurisdiction; and (b)  is disqualified from holding any municipal office for two years.  2001, c. 25, s. 424 (1); 2009, c. 18, Sched. 18, s. 10. Action by ratepayer (2) If a council, on the request in writing of a ratepayer, refuses or neglects for one month to bring a court action under clause (1) (a), the action may be brought by any ratepayer on behalf of all ratepayers.  2001, c. 25, s. 424 (2). Penalty (3) If a council neglects in any year to levy the amount required to be raised for a sinking or retirement fund, each member of the council is disqualified from holding any municipal office for two years, unless the member shows that he or she made reasonable efforts to procure the levying of the amount.  2001, c. 25, s. 424 (3). Statement of treasurer (4) If in any year an amount is or will be required by law to be raised for a sinking fund or retirement fund in a municipality, the treasurer of the municipality shall prepare for the council, before the budget for the year is adopted, a statement of the amount.  2001, c. 25, s. 424 (4). Offence (5) A treasurer who contravenes subsection (4) is guilty of an offence.  2001, c. 25, s. 424 (5). Section Amendments with date in force (d/m/y) 2009, c. 18, Sched. 18, s. 10 - 05/06/2009 part XIV   enforcement Offences and Penalties
PART XIV ENFORCEMENT
425.
425 (1) A municipality may pass by-laws providing that a person who contravenes a by-law of the municipality passed under this Act is guilty of an offence.  2006, c. 32, Sched. A, s. 184. Same (2) A police services board of a municipality may pass by-laws providing that a person who contravenes a by-law of the board passed under this Act is guilty of an offence.  2006, c. 32, Sched. A, s. 184. Note: On a day to be named by proclamation of the Lieutenant Governor, subsection 425 (2) of the Act is amended by striking out “police services board” and substituting “police service board”. (See: 2019, c. 1, Sched. 4, s. 33 (12)) Directors and officers (3) A by-law under this section may provide that a director or officer of a corporation who knowingly concurs in the contravention of a by-law by the corporation is guilty of an offence.  2006, c. 32, Sched. A, s. 184. Section Amendments with date in force (d/m/y) 2002, c. 17, Sched. A, s. 80 - 01/01/2003 2006, c. 32, Sched. A, s. 184 - 01/01/2007 2018, c. 3, Sched. 5, s. 35 (12) - no effect - see 2019, c. 1, Sched. 3, s. 5 - 26/03/2019 2019, c. 1, Sched. 4, s. 33 (12) - not in force
PART XIV ENFORCEMENT
426.
426 (1) No person shall hinder or obstruct, or attempt to hinder or obstruct, any person who is exercising a power or performing a duty under this Act or under a by-law passed under this Act.  2006, c. 32, Sched. A, s. 184. Occupied dwellings (2) A refusal of consent to enter or to remain in a room or place actually used as a dwelling does not constitute hindering or obstruction within the meaning of subsection (1) unless the municipality is acting under an order under section 438 or a warrant under section 439 or in the circumstances described in clause 437 (d) or (e).  2006, c. 32, Sched. A, s. 184. Orders under s. 438 (3) No person shall neglect or refuse to produce any information or thing or to provide any information required by any person acting pursuant to an order under section 438.  2006, c. 32, Sched. A, s. 184. Offence (4) Any person who contravenes subsection (1) or (3) is guilty of an offence.  2006, c. 32, Sched. A, s. 184. Same, director or officer (5) Every director or officer of a corporation who knowingly concurs in the contravention by the corporation under subsection (1) or (3) is guilty of an offence.  2006, c. 32, Sched. A, s. 184. Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 184 - 01/01/2007
PART XIV ENFORCEMENT
427.
427 A by-law establishing a system of accessible parking shall provide that every person who contravenes the by-law is guilty of an offence and on conviction is liable to a fine of not less than $300.  2009, c. 33, Sched. 26, s. 5 (2). Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 184 - 01/01/2007 2009, c. 33, Sched. 26, s. 5 (2) - 15/12/2009
PART XIV ENFORCEMENT
428.
428 A by-law may provide that, where a vehicle has been left parked, stopped or standing in contravention of a by-law passed under this Act, the owner of the vehicle is guilty of an offence, even though the owner was not the driver of the vehicle at the time of the contravention of the by-law, and is liable to the applicable fine unless, at the time of the offence, the vehicle was in the possession of another person without the owner’s consent.  2006, c. 32, Sched. A, s. 184. Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 184 - 01/01/2007
PART XIV ENFORCEMENT
429.
429 (1) Subject to subsection (4), a municipality may establish a system of fines for offences under a by-law of the municipality passed under this Act.  2006, c. 32, Sched. A, s. 184. Same (2) Without limiting subsection (1), a system of fines may, (a)  designate an offence as a continuing offence and provide for a minimum and maximum fine for each day or part of a day that the offence continues; (b)  designate an offence as a multiple offence and provide for a minimum and maximum fine for each offence included in the multiple offence; (c)  establish escalating fines for a second and subsequent convictions for the same offence; and (d)  establish special fines in addition to the regular fine for an offence which are designed to eliminate or reduce any economic advantage or gain from contravening the by-law.  2006, c. 32, Sched. A, s. 184. Restrictions (3) The following rules apply to the system of fines: 1.  A minimum fine shall not exceed $500 and a maximum fine shall not exceed $100,000.  However, a special fine may exceed $100,000. 2.  In the case of a continuing offence, for each day or part of a day that the offence continues, a minimum fine shall not exceed $500 and a maximum fine shall not exceed $10,000.  However, despite paragraph 1, the total of all of the daily fines for the offence is not limited to $100,000. 3.  In the case of a multiple offence, for each offence included in the multiple offence, a minimum fine shall not exceed $500 and a maximum fine shall not exceed $10,000.  However, despite paragraph 1, the total of all fines for each included offence is not limited to $100,000.  2006, c. 32, Sched. A, s. 184. Fine under another Act (4) If the provisions of any other Act, other than the Provincial Offences Act, provide for the fines for a contravention of a by-law of a municipality, the municipality cannot establish a system of fines under this section with respect to the by-law.  2006, c. 32, Sched. A, s. 184. Definition (5) In this section, “multiple offence” means an offence in respect of two or more acts or omissions each of which separately constitutes an offence and is a contravention of the same provision of a by-law.  2006, c. 32, Sched. A, s. 184. Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 184 - 01/01/2007
PART XIV ENFORCEMENT
430.
430 A municipality may provide that a person who is convicted of an offence for a contravention of a business licensing by-law dealing with an adult entertainment establishment may be liable to a term of imprisonment not exceeding one year in addition to any other applicable penalties.  2006, c. 32, Sched. A, s. 184. Section Amendments with date in force (d/m/y) 2006, c. 32, Sched. A, s. 184 - 01/01/2007