HomeMy WebLinkAbout86-42
The Corpora"tion of the Town of Newcas"tle
By-law 86-42
being a by-law to establ ish a Reserve for
Uncollectible Taxes
WHEREAS, the Council of the Corporation of the Town of Newcastle
considers it desirable to establ ish a Reserve for Uncollectible
Taxes;
AND WHEREAS, Section 164(2) of the Municipal Act, R.S.O. 1980,
provides that "In preparing the estimates the Counci I shall make due
allowance -for a surplus of any previous year that wil I be available
during the current year and shall provide for any operating deficit
of any previous year, and for the cost of collection, abatement of
and discount on taxes and for uncal lectable taxes and may provide
for taxes that it is estimated wi I I not be collected during the year
and for such reserves as the Counc i I cons i ders necessary;"
NOW THEREFORE, Be It Enacted and it is Enacted as a By-law of the
Corporation of the Town of Newcastle as fol lows:
1. That the Treasurer be authorized to establ ish a reserve,
entitled Reserve for Uncollectible Taxes; and
2. That the Treasurer be authorized to transfer the uncollectible
monies from the budget for Taxes Written Off in any given year
to the Reserve for Uncollectible Taxes.
By-law read a first time this 24 day of March 1986
By-law read a second time this 24 day of March 1986
By-law read a third time and finally passed this 24 day of March
1986.
Clerk
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