1994-093 To Establish a Reserve Account
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CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
BY-LAW NO. 94- 93
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Being a By-law to Establish a Reserve Account.
WHEREAS the Municipal Act, R.S.O., 1990, Chapter M.45, section
163(1) allows a municipality or any of its local Boards each year
to provide in the estimates for the establishment or maintenance of
a Reserve Account.
NOW THEREFORE the Council of The Corporation of the Township of
Oro-Medonte enacts as follows:
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That a separate Reserve Account be established and maintained
solely for the expenditures incurred by each of the Jarratt
Community Hall Board, the Edgar Community Hall Board and the
Hawkestone Community Hall Board.
2. That the balance to be established in the respective Reserve
Account be subject to considerations for all
revenue/expenditures in accordance with accepted Municipal
accounting practices.
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That the money deposited to the said Reserve Account shall not
be expended, pledged or applied for any purpose other than
that for which the account was established, unless duly
authorized by By-law.
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That the auditor in his annual report shall report on the
activities and position of the said Reserve Account.
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That By-law No. 86-92 and By-law No. 86-89 of the former
Township of Oro are hereby repealed.
That this By-law shall come into full force effect on its
final passing thereof.
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READ a first and second time this 18th day of
May , 1994.
READ a third time and finally passed this 18th
1994.
day of May
THE CORPORATION OF THE TOWNSHIP OF ORO-MEDONTE
~ ~d{)P/-u eY~
CtiERK DARLENE SHOE RIDGE
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