consideration of the market and economic conditions prevatling.

2, Upon completion by the Regional District of financing undertaken
purauant 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 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 amcunts 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 cf interest payable on monies 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 said 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 wlth the repayment of the
principal together wlth interest on unpaid amounts of money being borrowed

by the Reglonal District in order to finance the undertakings of the

Muntedpality as authorized by this By-law,

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