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THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW 81-28
being a by-law to establish an Administrative
Improvement Fund.
WHEREAS Section 308 (1) of the Municipal Act authorizes the Council
to establish and maintain a reserve fund for any purpose for which
it has the authority to spend funds;
AND WHEREAS the Council of the Town of Newcastle deems it desirable to
establish a reserve fund for the purpose of Administrative Improvements;
AND WHEREAS as in the year 1981 the Corporation of the Town of Newcastle
is in receipt of extra-ordinary monies for the issuance of Building Permits
to Ontario Hydro:
THEREFORE IT IS HEREBY RESOLVED:
1. The Treasurer is hereby authorized to establish a Reserve Fund
entitled ADMINISTRATIVE IMPROVEMENT FUND.
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2. The Treasurer is hereby authorized to transfer the sum of $421,000
to the Administrative Improvement Fund.
3. The Council may by resolution direct the use of the funds for
specific administrative improvement projects in the central
business area of Bowmanville.
4. The Council may by By-Law direct the use of the funds for any other
purpose for which it has the authority to spend monies.
READ A FIRST, SECOND AND THIRD TIME and finally passed
this Twenty-Third day of February A.D. 1981.
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Garnet B. Rickard
Mayor
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L/ Jnseph M. McI 1 roy
Clerk
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