HomeMy WebLinkAbout82-145
The Corporation of the Town of Newcastle
By-Law 82- 145
Being a By-Law to establish a Pits & Quarries
Reserve Account
WHEREAS the Council of the Corporation of the Town of Newcastle considers
it desirable to establish a Pits & Quarries Reserve.
AND WHEREAS, Chapter 302, Section 165 of The Municipal Act, R.S.O. 1980 as
stated herein as follows:
"Every 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
in unsurveyed territory may in each year provided in the estimates
for the establishment or maintenance of a reserve fund for any
purpose for which it 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 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 is authorized to establish a reserve account
entitled Pits and Quarries Reserve.
2. That the net proceeds derived from annual quarry operations be
credited to this Pits and Quarries Reserve.
3. That the Council may by resolution passed by a majority of members
present, direct the use of the funds for specific projects relating
to the paying claims related to the operation of the pit/quarries, the
purchase of another site and/or to refurbish/rehabilitate the existing
site.
4. That Council may by By-Law direct the use of the funds for any other
purpose for which it has the authority to spend monies.
BY-LAW read a FIRST and SECOND time this 18th day of October, 1982.
BY-LAW read a THIRD and FINAL time this 18th day of October, 1982.
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D.W. Oakes
Town Clerk
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seal
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