HomeMy WebLinkAbout08 057 Recreation Reserve Fund
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THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
BY-LAW
NO. 2008 - 057
BEING A BY-LAW TO ESTABLISH A RESERVE FUND
(Recreation Reserve Fund)
AND WHEREAS pursuant to the Municipal Act, 2001, S.O. 2001, c. 25, Section 8
(1) and 9 provide that the powers of a municipality under this or any other Act
shall be interpreted broadly so as to confer broad authority on the municipality to
enable the municipality to govern its affairs as it considers appropriate and to
enhance the municipality's ability to respond to municipal issues and has the
capacity, rights, powers and privileges of a natural person for the purpose of
exercising its authority under this or any other Act;
AND WHEREAS the said Municipal Act, Section 417 provides that a municipaiity
may In each year provide in its budget for the estabiishment or maintenance, a
reserve fund for any purpose for which it has authority to spend money;
AND WHEREAS the Council of The Corporation of the Municipaiity of Kincardine
wishes to establish a new reserve fund in order to accommodate the holding of
recreation related activities;
NOW THEREFORE the Council of The Corporation of the Municipaiity of
Kincardine ENACTS as follows;
1. That the "Recreation Reserve Fund" be estabiished, as of December 31,
2007. This reserve fund shall be used for recreational related activities and
shall have $117,000.00 deposited into it.
2.
This by-law shall come into full force and effect upon its final passage.
3. This by-law may be cited as the "Recreation Reserve Fund By-law".
REA FIR
d COND time this 16'h day of April, 2008
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Clerk
or
READ a THIRD time and FINALLY PASSED this 16'h day of April, 2008.
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Cler