~2-
and with such discounts or premiums and expenses as the Municipal Vinance
Authority of British Columbia may deem appropriate in consideration of the
market and economic conditions prevailing.
2. Upon completion by the Regional District of financing undertaken
pursuant hereto, the Mayor and Treasurer of the Municipality and under its seal
shall at such time or 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
Schedule "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 l.
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
repayment 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 moneys raised 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 Municipality and
shall bear the signatures of the Mayor and Treasurer.

6. The obligation incurred under the sald Agreement as to both principal
and interest shall be payable at the principal office of the Regional District
and at such time or times as shall be determined by the Regional District so as
to be consistent with the repayment of the principal together with interest on
unpaid amounts of money being borrowed by the Regional District in order to

finance the undertakings of the Municipality as authorized by this By~law.