HomeMy WebLinkAbout00 008 Est. Mun Bldg. Rsrv Fund
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mE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
BY-LAW
NO. 2000 - 08
A BY-LAW TO ESTABLISH RESERVES AND RESERVE FUNDS
WHEREAS Section 163 of the Municipal Act R.S.O. 1990, Chapter M45, provides
that a municipality may establish and maintain a reserve fund for any purpose for
which it has authority to spend funds;
NOW THEREFORE the Council for The Corporation of the Municipality of
Kincardine ENACTS as follows:
1. That the following reserve funds be established:
"Municipal Building Reserve Fund" to be used to fund some or all
capital works related to the building or renovating of municipal buildings.
Furthermore, that the special distribution of funds that the municipality
received from Bruce Municipal Telephone System, in the amount of
$142,085.81 be deposited in this reserve fund.
2. If Council should deem it advisable, moneys raised for the reserve fund
established by Article 1 may be expended, pledged or applied to a purpose
other than for which the fund was established.
3. This by-law shall come into full force and effect upon its final passage.
4.
This by-law may be cited as the "Establishing a Municipal Building Reserve
Funds By-law".
READ a FIRST and SECOND time this 26th day of January, 2000
READ a THIRD time and FINALLY PASSED this 26th day of January, 2000.
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