HomeMy WebLinkAboutTIV 77 006 Establish a Reserve
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CORPORATION OF THE VILLAGE OF TIVERTON
# BY-LAW NUMBER 77-6
,rf~ Being a By-law to establish a reserve.
WHEREAS the Municipal Act R.S.O. 1970, Chap. 284, Section 307
authorizes a Municipal Council to pass a by-law to set reserves
fer certain allowances;
NOW THEREFORE the Council of the Corporation of the Village of
Tlverton deems it expedient that certain sums shall be allowances
for future expenditu~es and enacts as follows:
1. There shall be established and maintained a reserve
for the purpose of the Corporation for the making of
additions and alterations to buildings and for
acquiring or providing for any other property or
equipment for the purpose of the Corporation.
2. The following shall be allocated in the reserve as
set out ~reinto from the estimates of the year 1977:
$ 5,000.00 from the appropriation for Water Storage
Facilities,
$38,000.00 from the appropriation for Storm Sewer
Construction,
$ 8,500.00 from the appropriation for Recreation
Facilities,
$12,000.00 from the appropriation for other Capital
Expenditures.
3. The estimates of the Corporation for the year 1977,
i.sofar only as the same may be inconsistent with
the foregoing, are hereby prorated to any extent
necessary to give effect hereto.
Read a first, second and third time and finally passed this
19th day of December, 1977.
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