HomeMy WebLinkAbout99-126 The Corporation of the Municipality of Clarington
By-law 99- 126
Being a by-law to repeal By-law 92-93 and by-law 92-94
effective September 1, 1999 and to establish
Reserve Funds for Development Charges-
Municipal purposes.
WHEREAS the Council of the Corporation of Municipality of Clarington
has adopted a revised development charge policy, the Council considers it
desirable to establish reserve funds for Development Charges for Municipal
purposes.
AND WHEREAS, Section 163 (2) of The Municipal Act, R.S.O. 1990, c.M. 45,
Provides that:-
"Every municipality, local board and other entity may in each
year provide in its estimates for the establishment or maintenance
of a reserve fund for any purpose for which it has authority to
expend funds."
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 the following
reserve funds entitled:
Development Charge—General Government
Development Charge—Library Services
Development Charge—Fire Services
Development Charge—Indoor Recreation
Development Charge—Park Development and Facilities
Development Charge—Public Works Buildings/Municipal
Fleet and Related
Development Charge—Roads (Engineered Services)
Development Charge— Stormwater Drainage and Control Services
2. That all development charges collected pursuant to the Development
Charges By-law which identifies the quantum to be collected, be paid
into the reserve funds in accordance with the prevailing Development
Charges By-law:
3. That available balances remaining in the original development charges
Reserve Funds established under By-law 92-93 be transferred into the
appropriate new development charges reserve funds.
4. That By-law 92-93 (Development Charges—Municipal Purposes) and
By-law 92-94 (Development Charges—Hydro Electric Purposes)be
repealed effective September 1, 1999.
5. This by-law shall take effect on the date of September 1, 1999.
By-law read a first time this 291h day of July 1999.
By-law read a second time this 2 91h day of July, 1999.
By-law read a third time this 2 91h day of July, 1999.
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