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THE CORPORATION OF THE MUNICIPALITY OF CLARINGTON
BY-LAW #2005- 121
Being a By-Law to establish a Reserve Fund
For Development Charges - Transit
WHEREAS the Council of the Corporation of the Municipality ofClarington considers it
desirable to establish a Reserve Fund for Development Charges - Transit
AND WHEREAS Chapter M.25, Section 417(1) of the Municipal Act S.O. 2001,
provides that, "Every municipality as defined in the Municipal Affairs Act and any other
body exercising a power with respect to municipal affairs under any Act in an
unorganized territory may in each year provide in its budget for the establishment or
maintenance of a reserve fund for any purpose for which it has authority to spend money.
NOW THEREFORE, Be It Enacted and It Is Enacted, as a By-Law of the Corporation of
the Municipality ofClarington as follows:
1. THAT the Treasurer be authorized to establish a reserve fund entitled
"Reserve Fund - Development Charges - Transit";
2. THAT the Council may, by resolution passed by a majority of members
present, direct the use ofthe funds for municipal purposes.
By-Law read a first and second time this 27th day of June 2005.
By-Law read a third and finally passed this 27'h day of June 2005.
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