HomeMy WebLinkAbout82-70THE CORPORATION OF THE TOWN OF NEWCASTLE
BY -LAW 82 -70
Being a by -law to amend By -Law 81 -111 entitled "A By -Law
to establish a policy respecting Working Capital Reserves ".
WHEREAS, the Council of the Corporation of the Town of Newcastle has deemed
it expedient to amend By -Law 81 -111 to redefine the policy respecting
Working Capital Reserves;
NOW THEREFORE, the Council of the Corporation of the Town of Newcastle
hereby, enacts as follows:
1. That the policy Section I, of By -Law 81 -111 is hereby deleted and
that the following be substituted, therefore:
POLICY:
That a policy is hereby established whereby an amount of the
operating surplus in any given year be transferred to the Working
Capital Reserve as directed by resolution of Council.
By -Law read a first and second time this 25th day of May, 1982.
By -Law read a third and finally passed this 25th day of May, 1982.
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Garnet B. Rickard
Mayor
seal
-David W. Oakes
Town Clerk
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