HomeMy WebLinkAbout06 063 Establish Reserve Fund Tiverton Energy
e
e
e
e
THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
NO. 2006 - 063
BEING A BYLAW TO ESTABLISH A RESERVE FUND
(Tiverton Energy Solutions Expo Reserve Fund)
WHEREAS the Municipal Act, 2001, S.O. 2001, Chapter 25, Section 417
provides that a municipality may in each year provide in its budget for the
establishment or maintenance a reserve fund for any purpose for which it has
authority to spend money;
AND WHEREAS the Council for The Corporation of the Municipality of
Kincardine wishes to establish a new reserve fund in order to accommodate the
holding of the Tiverton Energy Solutions Expo;
NOW THEREFORE the Council for the Corporation of the Municipality of
Kincardine ENACTS as follows:
1. That the "Tiverton Energy Solutions Expo Reserve Fund" be
established. This reserve fund shall have $10,000.00 deposited into it from
general revenues during 2006. All operating surpluses or deficits resulting
from the activities of the Municipality of Kincardine's Tiverton Energy
Solutions Expo Committee shall be transferred to or taken from this
reserve fund for the year 2006 and each year thereafter.
2. If Council should deem it advisable, they may by by-law, reallocate any
monies in the reserve fund in Section 1 to be spent, pledged or applied to
a purpose other than that for which the reserve fund was established.
3.
It is the intention of the Municipality that the activities of the Tiverton
Energy Solutions Expo Committee be self-funding. As a result, Council
shall determine the methodology for funding a deficit balance in this
reserve fund should one be incurred at any time.
4. This by-law shall come into full force and effect upon its final passage.
5. This by-law may be cited as the "Tiverton Energy Solutions Expo (2006)
Reserve Fund By-law".
READ a FIRST, SECOND and THIRD time and FINALLY PASSED this 3rd day
of May, 2006.
9Jß. d.Â
- Mayor"
¡:)¡r.-.