HomeMy WebLinkAboutBy-law 5761/00THE CORPORATION OF THE CITY OF PICKERING
BY-LAW NO. 57 61/00
Being a by-law to establish and maintain a
Reserve Fund for the construction of the
Brockridge Park Clubhouse.
WHEREAS pursuant to the provisions of Section 163 of the Municipal Act, R.S.O. 1990, as
amended, every Municipality may provide for the establishment or maintenances of a Reserve
Fund for any purpose for which it has the authority to spend funds;
AND WHEREAS the Council of the City of Picketing will be considering the matter of
construction of a clubhouse in Brocktidge Park as part of its annual Capital Budget deliberation;
AND WHEREAS the Pickering Baseball Association wishes to contribute financially to the
construction costs of such a facility,
NOW THEREFORE THE COUNCIL OF THE CORPORATION OF THE CITY OF
PICKERING HEREBY ENACTS AS FOLLOWS:
1. That a Reserve Fund to be known as the Brockridge Park Clubhouse Trust be established.
o
°
That funding for this Reserve Fund shall initially be by a contribution in the amount of
$60,000.00 from the Picketing Baseball Association, and thereafter from any other donors
or contributors or from such funds as the Council of the City of Picketing may from time
to time approve.
That the monies so provided shall be used only for the construction of a clubhouse to be
located in Brockridge Park.
That the Treasurer manage such monies so provided according to the Investment Policy
approved by Council at its meeting of March 9, 1998.
That this Reserve Fund shall be subject to the provisions of the Municipal Act.
That this by-law shall come into force and take effect upon the date of the final passing
thereof.
BY-LAW read a first, second and third time and finally passed this 16 day of October
Bruce Taylor, Clerk