HomeMy WebLinkAbout95-101 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
BY-LAW NUMBER 95-101
Being a by-law to establish a Reserve Fund
for Rickard Recreation Complex (RRC) Site Development
WHEREAS the Council of 'the Corporation of the Municipality of
Clarington considers it desirable to establish a Reserve Fund for
the purpose of site development at the Rickard Recreation Complex.
AND WHEREAS Chapter M.45, Section 163( 1) of the Municipal Act
R.S.O. 1990, provides that, "Every 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, but if 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 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 Municipality of Clarington as follows:
1. THAT the Treasurer be authorized to establish a reserve
fund entitled "Reserve Fund - Rickard Recreation Complex
Site Development" ;
2 . THAT the Council may, by resolution passed by a majority
of members present, direct the use of the funds for site
improvement and/or expansion at the Rickard Recreation
Complex;
3. THAT the Treasurer is hereby authorized to deposit any
funds received from the sale of any portion of the
Rickard Recreation Complex site to the Reserve Fund -
Rickard Recreation Complex Site Development; and
4. THAT the Council may by By-Law direct the use of any
surplus funds for any other purpose for which it has
authority to spend monies.
By-Law read a first and second time this 17th day of July 1995.
By-Law read a third time and finally passed this 17th day of July
1995.
Mayor
uty Clerk