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THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW 83-48
i!'!EPEAlED BY
BY-lAW #<if"$ , 14 '1
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being a by-law to establish Reserve Funds
for Lot Levies - Courtice Urban Area.
WHEREASt the Council of the Corporation of the Town of Newcastle
has adopted a revised development charge policy, the Council considers it
desirable to establish reserve funds for lot levies - Courtice Urban Area;
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 or the issue of debentures of
or on behalf of a local boardt the approval of the council of a
provision in the estimates of the local board for a reserve
fund shall be obtained.1I
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 - Courtice Urban Area for Community
Services,
Lot Levy Reserve Fund - Courtice Urban Area for Public Works,
Lot Levy Reserve Fund - Courtice Urban Area for Civic
Administration.
2. That the difference between the development charges paid for land
severences, plans of subdivision and rezonings for residential
development in the Courtice Urban Area as defined in the Official Plan
of the Regional Municipality of Durham and the development charges for
1 and severences, plans of subdi vi s i on and rezonings for res i denti a 1
development in the remainder of the Town of Newcastle apportioned to the
Lot Levy Reserve Funds - Courtice Urban Area on the following basis for
expenditures to meet the needs of the community, as a result of
development in the Courtice Urban Area:-
(a) 50% to Lot Levy Reserve Fund - Courtice Urban Area for
Community Services.
(b) 40% to Lot Levy Reserve Fund - Courtice Urban Area for
Public Works.
(c) 10% to Lot Levy Reserve Fund - Courtice Urban Area for
Civic Administration.
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3. That the Treasurer be authorized to transfer such monies as have
accrued to the Court;ce Urban Area which are presently held
in the Lot Levy Reserve Fund established by By-Law 76-58 to
the Lot Levy Reserve Funds - Court; ce Urban Area on the bas; s
provided under By-Law 76-58 being:
(a) 33 1/3% for administration buildings, 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 ~ ~-~/?
Mayor
Seal
D.W. Oakes ~ko . ~
Town Clerk