Authority of British Columbia may deem appropriate in conatdecation of
market «nd cconomic conditions prevatling.
2. Upon completion by the Regional District of financing undertaken
pursuant hereto, the Mayor and Treasurer of the-Muntetpality and under its seal
shall at such time cr times as the Regional District may direct, enter into
and deliver to the Regional District one or.more agreements, which said
agreement or agreements shall be substantially in the form annexed hereto as
Shedule "A" and made part of this by-law (such Agreement or Agreements as may
be entered into, delivered or substituted hereinafter referred to as the
"“Agreement") providing for payment by the Municipality to the Regional District
of the amounts required to meet the obligations of the Regional District with
respect to its borrowings undertaken pursuant hereto, provided that the
principal amount of the Agreement shall not exceed the amount referred to in
Section 1.
3. The Agreement shall be dated and payable in the principal amount or
‘amounts of monies and in such currency or currencies as shall be borrowed by
the Regional District pursuant to Section. 1, and shall set out the schedule of
-Yepayment of the principal amount together with interest on unpaid amounts as
shall be determined by the Treasurer of the Regional District so as to be
consistent with the repayment of monies being borrowed by the Regional District
in order to finance the said undertakings of the Municipality as authorized by
this By-law.
4. The obligation incurred under the said Agreement shall bear interest
from a date specified therein, which date shall be determined by the Treasurer
of the Regional District, and shall bear interest at a rate to be determined
by the Treasurer of the Regional District so as to be consistent
with the rate of interest payable on monics rajsed by the Regional District in order
to finance the said undertakings in the amounts as authorized by this by-law.
5. The Agreement shall be sealed with the seal of the Munteipality and
shail bear the signatures of the Mayor and Treasurer.
6. The obligation incurred under the said Agreement as to both pelnelpal
and Interest shall be payable at the principal of flee of the Reglonal District
and at such time or times as shall be determined by the Regional District so ag

to be conststene with the repayment of the principal together wlth {nterest on

unpald amounts of money being borrowed by the Repfonal District (n order to

flnanee tha underctaktoga of the MuntleLpaltty an authorized by this By-law.