HomeMy WebLinkAbout89-92
The COrporation of the Town of Newcastle
By-law 89- 92
being a by-law to establish a Reserve
for BUilding Maintenance and Improvements
and to repeal By-law 86-46,
being a By-law to establish a Reserve
for Building and Energy COnservation
Improvements
Whereas, the Council of the Corporation of the Town of Newcastle
considers it desirable to establish a Reserve Building Maintenance
and Improvements;
And Whereas, Section 164(2) of the Municipal Act, R.S.O., 1980, provides
that "In preparing the estimates the Council shall make due allowance for
a surplus of any previous year that will 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 uncollectable taxes and may provide for taxes that it is estimated
will not be collected during the year and for such reserves as the
Council considers necessary;"
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, entitled
Reserve for Building Maintenance and Improvements; and
2. That the COuncil may by resolution passed by a majority of members
present, direct the use of the funds for specific projects; and
3. That COuncil may by Resolution direct the use of the funds for any
other purpose for which it has the authority to spend monies.
4. That Funds acquired through the sale of surplus Municipal Properties
be directed, at the discretion of the Chief Administrative Officer, to
this Reserve (to be available for such improvements or maintenance as
determined by Council Resolution) or to the Municipal Acquisition of
Real Property.
And further, that By-law 86-46 is hereby repealed.
By-law read a first time this 29th day of May, 1989.
By-law read a second time this 29th day of May, 1989.
By-law read a third time and finally passed this 29th day of May, 1989.