HomeMy WebLinkAbout79-139
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THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW NO. 79-139
Being a By-Law to provide for a consolidated bank account
for the deposit of the monies of all reserve funds.
WHEREAS Section 308(3) of The Municipal Act,(R.S.O. 1970, Chapter 284) provides
that the Council of a Municipality may by By-Law, provide that a consolidated bank
account may be kept in which there may be deposited the monies raised for all
reserve funds established under this section, but which consolidated account
shall be kept so that it will be possible to determine therefrom the true state
of each reserve fund.
AND WHEREAS the Town of Newcastle now has established reserve funds commonly
known as:-
Roads Capital Costs
Industrial Development & Promotion
Ontario Home Renewal Plan
Lot Levies
Parking Revenues
Recreational Land (The Planning Act)
Industrial Debenture Repayment
O.H.A.P. Courtice Capital Costs
AND WHEREAS the Council of the Corporation of The Town of Newcastle enacts as
follows:-
1.
THAT the monies on deposit to the credit of the aforementioned reserve
funds be transferred to one bank account.
2.
THAT the bank account in one(l) above be maintained at the bank where
the other accounts of the Municipality are maintained.
3.
THAT the Treasurer maintain records appropriate to the determination
of the state of each reserve fund.
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4. THAT any By-laws enacted previously which are inconsistant with this
By-law are hereby repealed.
Read a first and second time this ~~d... day of ....... .Il~~~lIlb.~~ ... . .. . . . . . . ., 1979
Read a third time and finally passed this .~~4. day of ..Il~~~lIlb.~~............ 1979
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G.B. Rickard, Mayor
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