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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,