HomeMy WebLinkAbout97-269 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
BY-LAW NUMBER 97-269
being a By-Law to establish a Reserve Fund for Cove Road/
Westside Creek Bridge
WHEREAS the Council of the Corporation of the Municipality of Clarington considers it
desirable to establish a Reserve Fund for the purpose of the construction of Cove
Road/Westside Creek Bridge.
AND WHEREAS Chapter M.45, Section 162(2) 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 "Cove
Road/Westside Creek Bridge";
2. That the Treasurer is hereby authorized pursuant to Admin 47-97 to deposit funds
received from Blue Circle Inc. for the construction of Cove Road/Westside Creek
Bridge to the Cove Road/Westside Creek Bridge Reserve Fund.
3. That the Council may by By-law direct the use of any surplus funds for any other
purpose for which it has the authority to spend monies.
By-Law read a first and second time this 15th day of December 1997.
By-Law read a third time and passed this 15th day of December 1997.
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