HomeMy WebLinkAbout82-71THE CORPORATION OF THE TOWN OF NEWCASTLE
BY-LAW 82-71
Being a by-law to establish a Community Centre Expropriation
Proceeds Reserve Fund.
WHEREAS, the Council of the Corporation of the Town of Newcastle considers
it desirable to establish a reserve fund for Community Centre Expropriation
Proceeds.
WHEREAS, the Corporation of the Town of Newcastle has received proceeds on
the expropriation of the Baseline Community Centre which are to be used for
the development of a community centre or other recreational facility;
AND WHEREAS Chapter 302, Section 165 of The Municipal Act, R.S.O. 1980,
as amended, provides in part, that "every Municipality 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 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":
NOW THEREFORE BE IT ENACTED AND IT IS ENACTED AS A BY-LAW OF THE CORPORATION
OF THE TOWN OF NEWCASTLE AS FOLLOWS:
1. That the Treasurer.is authorized to establish a Reserve
Fund entitled the Community Centres Expropriation
Proceeds Reserve Fund.
2. That the Treasurer is authorized to transfer the sum of
$135,175.19 from the Baseline Capital Account to the
Community Centres Expropriation Proceeds Reserve Fund.
3. That Council may by resolution direct the use of the funds
for the development of a community centre or other
recreational facility.
By-law read a first and second time this 25th day of May, 1982.
By-law read a third time and finally passed this 25th day of May, 1982.
Garnet B Rickard/~'!~,~~~~
Mayor
David W. Oakes ~~~-~-,~~~~~ ~~ ~
Town Clerk
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