TOWN OF VIEW ROYAL BYLAW NO. 877

BYLAW NO. 877

A BYLAW TO AUTHORIZE THE EXPENDITURE OF MONIES IN THE DCC RESERVE FUND (HIGHWAY 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, Seven Hundred and Eighty Six Thousand, Five Hundred and Thirty Seven Dollars ($1,786,537.13) in the DCC Reserve Fund (Highway Facilities) as of January 1, 2013.

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 Twenty Thousand ($20,000) dollars from the DCC Reserve Funds (Highway Facilities) for work on the Master Transportation Plan.

NOW THEREFORE The Council of the Town of View Royal, in open meeting assembled, enacts as follows:

1. The sum of Twenty Thousand ($20,000) dollars is hereby appropriated from the Development Cost Charge Reserve Fund (Highway Facilities) for work on the Master Transportation Plan.
2. Any unspent monies shall be returned to the Development Cost Charge Reserve Fund.
3. This bylaw may be cited for all purposes as the "Development Cost Charge Reserve Fund Expenditure Bylaw No. 877, 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