HomeMy WebLinkAbout81-187
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THE CORPORATION OF THE TOWN OF NEWCASTLE
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BY-LAW No. 81-187
being a by-law to establish a Reserve Fund for the
Promotion and Development of "Industrial Lands"
acquired before December 31, 1973
WHEREAS the Council of the Corporation of the Town of Newcastle
considers it desirable to establish a reserve for the purpose of
providing funds for the Promotion-arid-Development~- or-Municipally
owned "Industrial" lands;
AND WHEREAS Section 308 (1) of The Municipal Act, R.S.O. 1970, as
amended, 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:
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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 for Industrial
Promotion.
2. That the Council may by resolution passed by a majority
of members present direct the use of the funds for
specific projects relating to sale, promotion or
development of industrial lands presently held within
the Town.
3. That Council may by By-Law direct the use of the funds
for any other purpose for which it has the authority
to spend monies.
BY-LAW READ a first and second time this 30th
day of November
day of November
1981
BY-LAW READ a third and final time this 30th
1981
Garnet B.
Mayor
RiCkar~~
Lea
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David W. Oakes
Clerk
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