THE
CORPORATION OF THE VILLAGE OF MONTROSE
BYLAW #560
A BYLAW TO AUTHORIZE
EXPENDITURES FROM DEVELOPMENT COST CHARGES RESERVES.
WHEREAS section 935(5) of the Municipal Act RS Chap. 323 authorizes the Council of the Village of
Montrose to withdraw funds from development cost charges reserves, and
WHEREAS
Council deems it necessary to draw on development cost charges reserves
to fund capital expenditures for which the reserves are established,
NOW THEREFORE, the
Council of the Village of Montrose, in open meeting assembled, hereby ENACTS AS
FOLLOWS:
1. (1) This
Bylaw may be cited as the “DCC Expenditure Bylaw”.
2. (1) The
balance in the Development Cost Charges Water Reserve as of January 14, 2000,
is thirty-three thousand three hundred twenty-one dollars and forty-three cents
($33,321.43).
(2) Council
has authorized water capital expenditures provided for in Corporation of the
Village of Montrose Development Cost Charges By-Law No. 295, 1978, in excess of
the balance held in the Development Cost Charges Water Reserve account.
(3) The
withdrawal of thirty-three thousand three hundred twenty-one dollars and
forty-three cents ($33,321.43) is hereby authorized.
3. (1) The
balance in the Development Cost Charges Sewer Reserve as of January 14, 2000,
is ten thousand four hundred fourteen dollars and Twenty-six cents
($10,414.26).
(2) Council
has authorized sewer capital expenditures provided for in Corporation of the
Village of Montrose Development Cost Charges By-Law No. 295, 1978, in excess of
the balance held in the Development Cost Charges Sewer Reserve account.
(3) The
withdrawal of ten thousand four hundred fourteen dollars and Twenty-six cents
($10,414.26) is hereby authorized.
4. (1) If
any section, subsection, sentence, clause or phrase of this Bylaw is for any
reason held to be invalid by the decision of any court of competent
jurisdiction, the invalid portion shall be severed and the part that is invalid
shall not affect the validity of the remainder.
(2) This
Bylaw shall come into full force and effect on the final adoption thereof.
READ A FIRST TIME this
21st day of March, 2000
READ A SECOND TIME this
21st day of March, 2000
READ A THIRD TIME this
21st day of March, 2000
RECONSIDERED AND FINALLY
ADOPTED this 4th day of April, 2000
__________________________________ ________________________________
Mayor Village
Clerk
Certified
a true copy of Bylaw 560, as adopted
_______________________________________
Village Clerk