HomeMy WebLinkAbout83-47
-JJ'
REPEAll:D BY a
\ $.g - 14 I
UY.lJ,W II.............
...1"'
THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW 83- 47
bei ng a by-l aw to es:tabli sh Reserve Funds
for Lot Levies - Town of Newcastle.
WHEREAS, the Council of the Corporation of the Town of Newcastle
has adopted a revised development charge policy, the Counci,l considers it
desirable to establish reserve funds for lot levies - Town of Newcastle;
AND WHEREAS, Section 165(1) of The Municipal Act, R.S.O. 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 it has authority to spend funds,
provided that, where the approval of the council is required by
law for a capital expenditure for 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 be authorized to establish the following reserve
funds entitled: Lot Levy Reserve Fund - Town of Newcastle for Community
Services,
Lot Levy Reserve Fund - Town of Newcastle for Public
Works,
Lot Levy Reserve Fund - Town of Newcastle for Civic
Admi ni strati on.
2. That the development charges paid for land severences, plans of
subdivision and rezonings for residential development in the Town of
Newcastle, save and except, those monies to be allocated to the Lot
Levy Reserve Funds - Courtice Urban Area, as established in By-Law 83-48
be apportioned to the Lot Levy Reserve Funds - Town of Newcastle on the
following basis for expenditures to meet the needs of the community as
a result of development in the Town of Newcastle:-
(a) 50% to Lot Levy Reserve Fund - Town of Newcastle for Community
Services.
(b) 40% to Lot Levy Reserve Fund - Town of Newcastle for Public Works.
(c) 10% to Lot Levy Reserve Fund - Town of Newcastle for Civic
Administration.
I' File NO.mm_m.:...~.?:J~._._.___1
~
/~.
- 2 -
3. That the Treasurer be authorized to transfer such monies presently
held in the Lot Levy Reserve Fund established by By-Law 76-58, save
and except, such moni es as have accrued to the Courti ceUrban Area as
established in By-Law 83~8 to the Lot Levy Reserve Funds - Town of
Newcastle on the basis provided under By-Law 76-58,being:-
(a) 33 1/3% for administration building, furnishings and
equipment.
(b) 33 1/3% for public works.
(c) 33 1/3% for other community facilities.
BY-LAW read a first and second time this 28th day of March, 1983.
BY-LAW read a third and finally passed this 28th day of March, 1983.
G.B. Rickard~/:d~r~~~/
/
Mayor .
D.W. Oakes
Town Clerk
Seal