BYLAW NO. 859: DCC RESERVE FUND EXPENDITURE (SEWER FACILITIES)
Bylaw authorizing the expenditure of $150,000 from the Development Cost Charge Reserve Fund for sewer facility work.
TOWN OF VIEW ROYAL BYLAW NO. 859
A BYLAW TO AUTHORIZE THE EXPENDITURE OF MONIES IN THE DCC RESERVE FUND (SEWER FACILITIES)
WHEREAS The Council of the Town of View Royal established a Development Cost Charge Reserve Funds Bylaw, under Bylaw No. 64, on the 16th day of October 1990;
AND WHEREAS There is a balance of One Million, One Hundred and Sixty Nine Thousand, and Sixty Four Dollars ($1,169,064.36) in the DCC Reserve Fund (Sewer Facilities) as of December 31, 2012.
AND WHEREAS The monies in the said fund together with any interest thereon will be used only for a capital expenditure for the purposes for which the fund was created;
AND WHEREAS It is deemed desirable to expend the sum of One Hundred, Fifty Thousand ($150,000) dollars from the DCC Reserve Funds (Sewer Facilities) for work on the Stewart Avenue Pump Station.
NOW THEREFORE The Council of the Town of View Royal, in open meeting assembled, enacts as follows:
The sum of One Hundred, Fifty Thousand ($150,000) dollars is hereby appropriated from the Development Cost Charge Reserve Fund (Sewer Facilities) for work on the Stewart Avenue Pump Station.
Any unspent monies shall be returned to the Development Cost Charge Reserve Fund.
This bylaw may be cited for all purposes as the “Development Cost Charge Reserve Fund Expenditure Bylaw No. 859, 2013”.
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ADOPTED BY COUNCIL, SIGNED BY THE MAYOR AND CLERK, AND SEALED WITH THE SEAL OF THE TOWN OF VIEW ROYAL ON THIS
MAYOR
CLERK
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