HomeMy WebLinkAbout2001-115 THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
BY-LAW#2001- 115
Being a By-Law to establish a Reserve Fund
For Host Community Fund(in trust)
WHEREAS the Council of the Corporation of the Municipality of Clarington considers it
desirable to establish a Reserve Fund for funds received in trust from the Federal
Government of Canada Host Community Fund.
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—Host Community Fund(in trust)";
2. THAT the interest earned be transferred to Port Granby Low Level
Radioactive Waste Agreement Reserve Fund.
By-Law read a first and second time this 25h day of June 2001.
By-Law read a third and finally passed this 25h day of June 2001.
John Mutton, Mayor
atti L. ie, cipal Clerk