HomeMy WebLinkAbout17 068 Kincardine Rotary Club Standard Trust Agreement (Music Park) By-law THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
•
wC/P(17Y OF KINGP
BY-LAW
NO. 2017 - 068
BEING A BY-LAW TO ENTER INTO A STANDARD TRUST
AGREEMENT WITH KINCARDINE ROTARY CLUB
WHEREAS the Municipal Act, 2001 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 Council of the Municipality of Kincardine deems it
necessary to enter into a standard trust agreement with the Kincardine Rotary
Club for the donation of sculptural instruments for Rotary Park;
NOW THEREFORE the Council of The Corporation of the Municipality of
Kincardine ENACTS as follows:
1. That The Corporation of the Municipality of Kincardine enter into a
standard trust agreement with the Kincardine Rotary Club for the
donation of sculptural instruments.
2. That the Mayor and Chief Administrative Officer be authorized and
directed to execute, on behalf of The Corporation of the Municipality of
Kincardine, the Agreement with the Kincardine Rotary Club attached
hereto as Schedule 'A'.
110
3. This by-law shall come into full force and effect upon its final
Y p
passage.
4. This by-law may be cited as the "Kincardine Rotary Club Standard
Trust Agreement (Music Park) By-law".
READ a FIRST and SECOND TIME this 10th day of May, 2017.
READ a THIRD TIME and FINALLY PASSED this 10th day of May, 2017.
Mayor Clerk
41)
STANDARD TRUST AGREEMENT
BETWEEN:
THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
(herein referred to as the Municipality)
AND:
THE KINCARDINE ROTARY CLUB
(herein referred to as the Donor)
WHEREAS the Donor has raised funds through licensed gaming events and
has made a donation of an asset to the Municipality;
AND WHEREAS the Municipality agrees to accept and use the described asset;
AND WHEREAS the Municipality agrees that when the asset is disposed of at
the end of its useful life, that it will return to the Donor a share of the sale price
proportionate to the Donor's share of the purchase price of the said asset;
NOW THEREFORE, in consideration of this mutual agreement, the parties agree
to the following:
1. That the asset referred to in this agreement are six sculptural instruments
valued at $25,732 in total.
2. That the Donor shall purchase and provide the asset described.
3. That the Municipality shall accept the asset until the end of its useful life and
shall dispose of the asset in accordance with the Municipality's policy.
4. That any monies received for the disposal of the asset shall be returned to the
Donor proportionate to the Donor's share of the purchase price; and the Donor
shall deposit any such monies into their lottery trust account.
5. That if the Donor is a service club or corporation no longer doing business or
an individual who cannot be found after a reasonable search, the Municipality
shall distribute the funds or equipment to one or more charitable organizations,
with the approval of the Licensing Authority.
IN WITNESS WHEREOF the parties hereto have executed this Agreement forming part of
By-Law No.
SIGNED, SEALED AND DELIVERED
in the presence of ) THE CORPORATION OF THE
MUNICIPALITY OF KINCARDINE
) Mayor—Anne Eadie
) Chief Administrative Officer—
) Murray Clarke
(We have the authority to bind the Corporation)
) KI► -DI 'OT.or CLUB
. -y, President
)„�-'m���, Vice President
(We have the authority to bind the Corporation)
STANDARD TRUST AGREEMENT
BETWEEN:
THE CORPORATION OF THE MUNICIPALITY OF KINCARDINE
(herein referred to as the Municipality)
AND:
THE KINCARDINE ROTARY CLUB
(herein referred to as the Donor)
WHEREAS the Donor has raised funds through licensed gaming events and
has made a donation of an asset to the Municipality;
AND WHEREAS the Municipality agrees to accept and use the described asset;
AND WHEREAS the Municipality agrees that when the asset is disposed of at
the end of its useful life, that it will return to the Donor a share of the sale price
proportionate to the Donor's share of the purchase price of the said asset;
NOW THEREFORE, in consideration of this mutual agreement, the parties agree
to the following:
1. That the asset referred to in this agreement are six sculptural instruments
valued at $25,732 in total.
2. That the Donor shall purchase and provide the asset described.
3. That the Municipality shall accept the asset until the end of its useful life and
shall dispose of the asset in accordance with the Municipality's policy.
4. That any monies received for the disposal of the asset shall be returned to the
Donor proportionate to the Donor's share of the purchase price; and the Donor
shall deposit any such monies into their lottery trust account.
5. That if the Donor is a service club or corporation no longer doing business or
an individual who cannot be found after a reasonable search, the Municipality
shall distribute the funds or equipment to one or more charitable organizations,
with the approval of the Licensing Authority.
IN WITNESS WHEREOF the parties hereto have executed this Agreement forming part of
By-Law No. 12W 7, 0G?
SIGNED, SEALED AND DELIVERED
in the presence of ) THE CORPORATION OF THE
MUNICIPALITY OF KINCARDINE
)
Ii/LA.
) Mayor—Anne Eadie
) Chief Administrative Officer—
) Murray Clarke
)
(We have the authority to bind the Corporation)
KI► -DI 'OT c,' CLUB
a •-y, President '
40,
frn y, Vice President
(We have the authority to bind the Corporation)