HomeMy WebLinkAbout87-83
THE CORPORATION OF THE TCMN OF NE.W:ASTLE
BY-LAW NO. 87- 83
Being a by-law to establish a Reserve Fund
entitled Engineering & Inspection Contributions
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 to offset the costs of Engineering & Inspection
services related to development within the Town.
AND WHEREAS, Chaptor 302, Section 165 (11) of the Municipal Act,
R.S.O. 1980, provides, that "every Municipality 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 unsurveyed
territory may in each year provide 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 Council is required by law for a capital expend-
iture 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.
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 fund entitled Reserve Fund Engineering
& Inspection Contributions.
2. '!hat the uses of this fund be to offset
costs of Engineering and Inspection services
related to development within the Town.
3. That Council may by By-law direct the use of funds
for any other purpose for which it has authority to
spend monies.
By-Law read a first and second time this 27thday of April 1987.
By-Law read a third and final time this 27thday of April 1987.
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Clerk