HomeMy WebLinkAbout82-127
TOWN OF NEWCASTLE
BY-LAW No. 82-127
being a by-law to establish a Reserve Fund for the Clarke Museum
and Archives Development Fund.
WHEREAS, the Council of the Corporation of the Town of Newcastle considers
it desirable to establish a reserve fund for the purpose of providing funds
for the Development Fund of the Clarke Museum and Archives Development,
AND WHEREAS, Chapter 302, Section 165(1) of the Municipal Act RSO 1980
provides, that, IIEvery municipality as defined in the Municipal Affairs Act
and every board, commission, body or local authority established or exercising
any power or authority with respect to municipal affairs under any general or
special Act in an unorganized township or in unsurveyed territory may in each
year provide in the estimates for the establishment or maintenance of a reserve
fund for any purpose for which is has authority to spend funds, provided
that, where the approval of the council is required by law for a capital
expenditure or the issue of debentures of or on the behalf of a local board,
the approval of the council of a provision in the estimates of the local board
for a reserve fund shall be obtained. 1976,c.69,s.7(1).
NOW THEREFORE, BE IT ENACTED and it is ENACTED as a By-Law of the Corporation
of the Town of Newcastle as follows:
1. That the Treasurer be authorized to establish a reserve fund
entitled IIClarke Museum and Archives Development Reserve Fund,1I
2. That such funds as are held in Saving Account # 9503269 of the
Orono GIBC - Bank on the date of passing of this By-Law be transferred
to the Clarke Museum and Archives Development Reserve Funds.
3. That the additions to this fund be from the proceeds of various fund
raising projects such as auction sales, local canvasses, bequests, etc.
4. That the uses of this fund be for the development of the Museum and
Archives collections and facilities.
5. That Council may by a resolution passed by a majority of the members
present direct the use of funds for specific projects relating to the
Clarke Museum and Archives.
6. That Council may by By-Law direct the use of the funds for any other
purpose for which it has authority to spend monies.
BY-LAW READ A first and second time this 20th day of Septemb&r1982
BY-LAW READ A third and finally passed this 20th day of September, 1982.
seal