HomeMy WebLinkAboutTR-35-86 TOWN OF NEWCASTLE REPORT#6
�, t} REPORT File #
Res. #('
By-Law #
MEETING. REPORT TO THE COUNCIL MEETING
DATE: MAY 12, 1986
REPORT #: TR 35 86— FILE #:
SUO.JECT:
RESERVE FUND - NEWCASTLE PUBLIC LIBRARY
-COURTICE BRANCH
RECOMMENDATIONS:
It is respectfully recommended to Council the following:
1 . That Report TR-35-86 be received; and
2. That the attached by-law establishing the Newcastle Public
Library - Courtice Branch Reserve Fund be approved; and
3. That the Newcastle Public Library Board be informed of the
actions taken by Council .
BACKGROUND & COMMENT
During formal budget discussions, Committee approved Resolution
#SGPA-80-86 which granted to the Library $10,000 to establish a
Capital Reserve Fund for the Courtice Area with said fund to be under
the control of the Town.
Subsequent to the above, Council approved the 1986 Current Municipal
Budget under Council Resolution #C-242-86 and the By-law to
establish the Reserve Fund now requires the approval of Council .
Respectfully submitted,
J .R. Blanchard,
Treasurer.
ATTACHMENT:
Corporation of the Town of Newcastle
BY-LAW 86-
BEING A BY-LAW TO ESTABLISH A RESERVE FUND FOR THE
NEWCASTLE PUBLIC LIBRARY - COURTICE BRANCH
WHEREAS, the Council of the Corporation of the Town of the Town
of Newcastle considers it desirable to establish a reserve fund
for the purpose of providing funds for the Capital Expansion to
the Newcastle Public Library system - Courtice Branch.
AND WHEREAS, Chapter 302, Section 165(1) of the Municipal Act
RSO 1980 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, provided that, where the approval of
the Council is required by law for a capital expenditure or the
Issue of debentures of or on the 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 Town of Newcastle as follows:
1. That the Treasurer be authorized to establish a reserve
fund entitled "Newcastle Public Library - Courtice Branch
Reserve Fund."
2. That the uses of this fund be for the development of a
library branch In the Courtice Area.
3. That Council may by resolution passed by a majority of the
members present direct the use of funds for specific
projects relating to the Newcastle Public Library System.
A. That Council may by By-law direct the use of funds for any
other purpose for which It has authority to spend monies.
By-law read a first and second time this 12th day of ilay, 1986.
By-law read a third and final time this 12th day of May, 1986.
John Winters, Mayor
seal
D.W. Oakes, Clerk