HomeMy WebLinkAboutKIN 90 082 Sanit Swer Rsrv Fund
THE CORPORATION OF THE TOWN OF KINCARDINE
.
BY-LAW
BY-LAW NO. 1990-82
BEING A BY-LAW TO ESTABLISH A SANITARY
SEWER CAPITAL EXPENDITURE RESERVE FUND
WHEREAS Section 165(1) of
Chapter 302, provides that
maintain a reserve fund for
to spend funds;
the Municipal Act, R.S.O. 1980,
a municipality may establish and
any purpose which it has authority
AND WHEREAS the Town of Kincardine has terminated agreements
with Her Majesty the Queen in Right of Ontario for municipal
sewer projects No. 1-0222 and 2-0110 and will be receiving the
balance of the reserve funds in those projects previously held
by the Ministry of the Environment.
NOW THEREFORE the Council of The Corporation of the Town of
Kincardine ENACTS as follows:
1. That a reserve fund be hereby established and called the
Sanitary Sewer Capital Expenditure Reserve Fund.
2. The Money in the Sanitary Sewer Capital Expenditure
Reserve Fund is hereby designated for future improvements
and construction of sanitary sewer facilities in the Town
of Kincardine.
3. Any and all balance of funds to be returned to the Town of
Kincardine by the Ministry of the Environment as a result
of the termination of Municipal Sewage Projects No. 1-0222
and 2-0110 shall be deposited to the Sanitary Sewers
Capital Expenditures Reserve Fund.
4. This By-law shall come into force and effect on the date
of its final passing.
5. This By-law may be cited as the "Sanitary Sewer Capital
Expenditure Reserve Fund By-law".
READ a FIRST and SECOND time this 6th day of December 1990.
.
1nJi/iJ IÎ ~-:J
Mayor
Deputy Clerk
READ a
1990.
this 20th day of December,