{"content":[{"text":"and Housing. This limit represents the maximum amount the municipality has \n available to commit to payments relating to debt and financial obligations. \n Prior to the authorization by Council of a long term debt or financial obligation, \n this limit must be adjusted by the Treasurer in the prescribed manner. \n Debt – any obligation for the payment of money over a period of time. Debt \n would consist of debentures, cash loans from financial institutions, capital \n leases, internal borrowing, loan guarantees and any debt issued by or on \n behalf of the County including mortgages, debentures or demand loans. \n Long Term Debt – Any debt for which the repayment of any portion of the \n principal is due beyond one year. \n Capital Expenditure – Expenditures incurred to acquire, develop, renovate or \n replace capital assets as defined by Public Sector Accounting Board, Section \n 3150. \n Net Revenues – The County of Grey’s consolidated revenues less: \n Fees for Tile Drainage / Shoreline Assistance \n Ontario and Canada Grants, including grants for Tangible Capital Assets \n Deferred revenue earned (Provincial and Canada Gas Tax) \n Revenue from other municipalities, including revenue for Tangible Capital Assets \n Gain/Loss on sale of land and capital assets \n Deferred revenue earned (Development Charges and Recreational Land) \n Other Deferred revenue earned \n Donated Tangible Capital Assets \n Increase/Decrease in Government Business Enterprise equity \n Fees and Revenue for Joint Local Boards for Homes for the Aged \n Tax Supported Debt – Debt for which annual principal and interest payments \n are funded from the general tax levy. \n Temporary Borrowing – Debt for which the repayment of the entire principal is \n due within one year or in the case of funding for a capital project, borrowing \n until long term debt is obtained or issued. \n Treasurer – means the Director of Corporate Services (Treasurer) for the \n County of Grey. \n Legislated Requirements \n The Municipal Act, 2001, Ontario Regulation 403/02 defines the annual debt \n and financial obligation limit for municipalities. \n This Regulation provides the authority and imposes the restrictions concerning a \n municipality’s ability to issue debt such that the annual principal and interest payments","bbox":{"left":0.191209,"top":0.07053,"width":0.685436,"height":0.819969}},{"text":"Page 2","bbox":{"left":0.47165,"top":0.938652,"width":0.05728499999999992,"height":0.019152999999999976}},{"text":"Policy: 7-2","bbox":{"left":0.792516,"top":0.938721,"width":0.09003000000000005,"height":0.019194999999999962}}],"images_bbox":[{"left":0.148627,"top":0.158333,"width":0.025294,"height":0.011515},{"left":0.148627,"top":0.241212,"width":0.02549,"height":0.011818},{"left":0.148627,"top":0.286364,"width":0.025294,"height":0.011515},{"left":0.148627,"top":0.350303,"width":0.02549,"height":0.011818},{"left":0.191961,"top":0.376212,"width":0.015686,"height":0.013788},{"left":0.192549,"top":0.401061,"width":0.015098,"height":0.013788},{"left":0.191961,"top":0.425909,"width":0.014706,"height":0.013788},{"left":0.191961,"top":0.450758,"width":0.015686,"height":0.013788},{"left":0.191961,"top":0.475455,"width":0.015686,"height":0.013788},{"left":0.191373,"top":0.500303,"width":0.011373,"height":0.013788},{"left":0.191765,"top":0.525151,"width":0.016078,"height":0.013788},{"left":0.192549,"top":0.55,"width":0.015098,"height":0.013788},{"left":0.192549,"top":0.574697,"width":0.00902,"height":0.013788},{"left":0.189804,"top":0.599545,"width":0.011373,"height":0.013788},{"left":0.148627,"top":0.624848,"width":0.02549,"height":0.011818},{"left":0.148627,"top":0.67,"width":0.02549,"height":0.011515},{"left":0.148627,"top":0.733939,"width":0.02549,"height":0.011818},{"left":0.118039,"top":0.780758,"width":0.039608,"height":0.017273},{"left":0.147255,"top":0.815,"width":0.024118,"height":0.011515}],"images_bbox_not_text_overlap":[{"left":0.148627,"top":0.158333,"width":0.025294,"height":0.011515},{"left":0.148627,"top":0.241212,"width":0.02549,"height":0.011818},{"left":0.148627,"top":0.286364,"width":0.025294,"height":0.011515},{"left":0.148627,"top":0.350303,"width":0.02549,"height":0.011818},{"left":0.191961,"top":0.376212,"width":0.015686,"height":0.013788},{"left":0.192549,"top":0.401061,"width":0.015098,"height":0.013788},{"left":0.191961,"top":0.425909,"width":0.014706,"height":0.013788},{"left":0.191961,"top":0.450758,"width":0.015686,"height":0.013788},{"left":0.191961,"top":0.475455,"width":0.015686,"height":0.013788},{"left":0.191373,"top":0.500303,"width":0.011373,"height":0.013788},{"left":0.191765,"top":0.525151,"width":0.016078,"height":0.013788},{"left":0.192549,"top":0.55,"width":0.015098,"height":0.013788},{"left":0.192549,"top":0.574697,"width":0.00902,"height":0.013788},{"left":0.189804,"top":0.599545,"width":0.011373,"height":0.013788},{"left":0.148627,"top":0.624848,"width":0.02549,"height":0.011818},{"left":0.148627,"top":0.67,"width":0.02549,"height":0.011515},{"left":0.148627,"top":0.733939,"width":0.02549,"height":0.011818},{"left":0.118039,"top":0.780758,"width":0.039608,"height":0.017273},{"left":0.147255,"top":0.815,"width":0.024118,"height":0.011515}]}