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HomeMy WebLinkAboutBy-law 3399 THE CORPORATION OF THE TO?~NSHIP OF PICKERING Being a By-law to establish a Reserve Fund for the Police Village of Claremont. ~IE£~EAS the Police Village of Claremonb by order of the Ontario Municipal Board ceases to exist as a Police Village as at January 1, 196S, as provided for under Part XXII of The Municipal Act 176o,) AND WtlEREAS the former Police Village of Claremont established an operating surplus over the years. THEREFORE the Council of the Corporation of the Township of Picketing ENACTS AS FOLLO~S: 1. That a reserve fund be established and maintained for ~se in providing necessary improvements to the services within the old bomndries of the Police Village as established by an Agreement dated the 9th day of March, 190g. 2. That the surplus funds of the Police Village of Claremont as at December 31, 1967, be transferred into a special bank account establishing a reserve fund as provided under the Municipal Act (R.S,O. 1960, section 295 (1) (2) for "Capital Improvements,operating expenses and maintenance of service within the boundries of ti~ old Police Village of Claremont". 3. That the money raised for the said Reserve Fund shall not be expended, pledged or applied for any purpose etcher than that for which the fund was established without the approval of the Department of Municipal Affairs. That the Auditor in his annual report s~all report on the activities and position of the said ~eserve Fund. That this By-law shall come into force and take effect on the 1st day of January, 196S, subject to ~ts ' ~ · hav~ng received the assent of at least two-thirds of the Council. ~MAb a FIRST and SECO?~D time this day of , 1967. Reeve ( ~, ' Clerk ~lerk