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Home My WebLink About10 129 Reserve & Reserve Fund Closure, Establishment and Modification By-law THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE KBr • a Y ,ANN / oPA(ITY OF 100 B - LAW NO. 2010 - 129 BEING A BY -LAW TO CLOSE, ESTABLISH AND MODIFY RESERVE AND RESERVE FUNDS WHEREAS Sections 8 (1) and 9 of the Municipal Act, 2001, S.O. 2001, c. 25, as amended, 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 Council of The Corporation of the Municipality of Kincardine established Reserve and Reserve Funds through various By -laws and Resolutions; AND WHEREAS it is deemed necessary to close and modify a number of Reserve or Reserve Funds; NOW THEREFORE the Council of The Corporation of the Municipality of Kincardine ENACTS as follows: 1. That the following Reserve and Reserve Funds be closed: Airport Gasoline Inventory Reserve, be hereby closed, with the balance • transferred to the Airport Reserve Fund; Airshow Reserve, be hereby closed, with the balance transferred to the Airport Reserve Fund; Canada Day Reserve, be hereby closed, with the balance transferred to the Tourism Reserve Fund; Tiverton Ball Light Reserve, be hereby closed, with the balance transferred to the Recreation Reserve Fund — sub account for Parks; Defibrillator Reserve, established by Resolution 99 -464 be hereby closed, with the balance transferred to the Equipment Replacement Reserve Fund — Fire; Mural Painting Reserve, established by Resolution 99 -459, be hereby closed, with the balance transferred to the Tourism Reserve Fund; Soccer Fields Reserve established by Resolution 99 -597 be hereby closed, with the balance transferred to the Recreation Reserve Fund — sub account for Parks; Page 2 Reserve & Reserve Fund Closure, Establishment and Modification By -law By -law No. 2010 — 129 Tiverton Cemetery Monument Reserve, established by By -law 1999 -74 be • hereby closed, with balance transferred to the Cemetery Reserve Fund; Planning Reserve, established by By -law 1999 -74 be hereby closed; Heritage Reserve, established by Resolution 99 -617 be hereby closed, with the balance transferred to the Capital Reserve Fund; Tourism Sign and Map Reserve be hereby closed; Drift -In Cruise Night, established by By -law 200 -165 be hereby closed; Capital Roads Reserve, be hereby closed, with the balance transferred to the Capital Roads Reserve Fund; CT Scanner Reserve be hereby closed; Seasonal Decoration Reserve, be hereby closed, with the balance transferred to the Tourism Reserve Fund; • Ward 1 Sick Leave Reserve be hereby closed; Legion Park Reserve be hereby closed; Inventory Reserve, be hereby closed, with the balance transferred to the Working Capital Reserve; Slope Stability Reserve be hereby closed; Library Furniture Reserve, be hereby closed, with the balance transferred to the Municipal Facilities Reserve Fund (with a sub account for the Library); Insurance Reserve, established by Resolution 96 -128 be hereby closed; • Ward 2 Roads Capital Reserve be hereby closed; Armow Community Reserve, be hereby closed, with the balance transferred to the Municipal Facilities Reserve Fund (with a sub account for the Armow WI); Culvert Capital Reserve be hereby closed; Deciduous Trees Reserve be hereby closed; Fire Truck Reserve, be hereby closed, with the balance transferred tot the Equipment Replacement Reserve Fund — Fire; Ward 3 Tiverton Contingency Reserve be hereby closed; • Underwood Community Centre Reserve, be hereby closed, with the balance transferred to the Municipal Facilities Reserve Fund (with a sub account for Underwood Community Centre); Page 3 Reserve & Reserve Fund Closure, Establishment and Modification By -law By -law No. 2010 — 129 Tiverton Sidewalk Reserve be hereby closed; • Tiverton Sports Centre Reserve be hereby closed; Future Employment Costs Reserve Fund, established by By -law 2002 -100 be hereby closed; Arts Facility Committee Reserve Fund, established by By -law 2001 -150 be hereby closed, with the balance transferred to the Arts Facility Reserve Fund; Port Bruce Cemetery Capital Reserve Fund, established by By -law 1999 - 74 be hereby closed, with the balanced transferred to the Cemetery Reserve Fund; Scott Point Water Reserve Fund, established by By -law 1999 -74 be hereby closed; Underwood Water Reserve Fund, established by By -law 1999 -74 be hereby closed; • Kincardine Cemetery Capital Reserve Fund, be hereby closed, with the balanced transferred to the Cemetery Reserve Fund; Ward III Rural Road & Bridges Reserve Fund, established by By -law 2006 -277, be hereby closed; Tiverton Cemetery Capital Reserve Fund established by By -law 1999 -74 be hereby closed, with the balanced transferred to the Cemetery Reserve Fund; Tiverton Sports Centre Reserve Fund be hereby closed, with the balance transferred to the Recreation Reserve Fund (with a sub account for Tiverton Sports Centre); Tax Assessment Appeal Reserve Fund established by By -law 2001 -110, be hereby closed with the balance transferred to the Capital Expenditure Reserve Fund; • Paisley Fire Department Capital Reserve Fund established by By -law 1999 -74, be hereby closed with the balance transferred to the equipment Replacement Reserve Fund — Paisley Fire; Downtown Revitalization Reserve Fund established by Resolution 2003- 673, be hereby closed with a balance transferred to the Roads Expenditure Reserve Fund; Ward 1 Capital Expenditure Reserve Fund be hereby closed; Heritage Reserve Fund, be hereby closed with the balance transferred the Equipment Replacement Reserve Fund; Parking Reserve Fund, be hereby closed with the balance transferred to the Equipment Replacement Reserve Fund; • Parkland Trust Reserve Fund be hereby closed; Old Lot Levies Reserve Fund be hereby closed; Page 4 Reserve & Reserve Fund Closure, Establishment and Modification By -law By -law No. 2010 — 129 Ward2 • Development Reserve Fund be hereby closed; W2 Lot Levy Reserve Fund be hereby closed; Recreation Reserve Fund be hereby closed; Subdivision Reserve Fund be hereby closed; Ward3 W3 Lot Levies Reserve Fund be hereby closed; Parkland in Trust Reserve Fund be hereby closed; 2. That the following Reserve Fund be established: "Cemetery Reserve Fund" to be used for general works regarding Municipal cemeteries. • 3. That modifications be made to the following Reserves and Reserve Funds: Building Reserve Fund — change name to Municipal Facilities Reserve Fund; HEC Reserve — change name to Westario Equity Reserve. 4. That this by -law shall come into full force upon its final passage. 5. That this by -law may be cited as the "Reserve & Reserve Fund Closure, Establishment and Modification By -law ". READ a FIRST and SECOND TIME this 6 day of October, 2010. • Mayor Clerk 0 READ a THIRD TIME and FINALLY PASSED this 6 day of October, 2010. /' 4 Mayor Clerk J