Staff Report: Growing Communities Fund Reserve Establishment
Finance report outlining the establishment of a reserve fund to manage monies received from the provincial Growing Communities Fund.
TOWN OF VIEW ROYAL
BYLAW NO. 1116, 2023
A BYLAW TO ESTABLISH A RESERVE FOR GROWING COMMUNITIES FUND
The Council of the Town of View Royal, in open meeting assembled, enacts as follows:
This Bylaw is cited as the “Growing Communities Fund Reserve Bylaw No. 1116, 2023”.
A Growing Communities Fund Reserve is established for the specified purpose of depositing and using funds received from the Province of British Columbia’s Growing Communities Fund program for community infrastructure and amenities, including acquiring land where it is wholly required for eligible infrastructure projects.
Money in the Growing Communities Fund Reserve, and interest earned on it, must be used only for the purpose of funding capital infrastructure and amenities, and any associated planning, land, machinery, or equipment necessary including the extension or renewal of existing capital works.
This bylaw expires and is of no further force and effect on the date the balance of the reserve is zero ($0.00).
READ A FIRST TIME THIS ______ DAY OF ________, 2023
READ A SECOND TIME THIS ______ DAY OF ________, 2023
READ A THIRD TIME THIS ______ DAY OF ________, 2023
ADOPTED BY COUNCIL, SIGNED BY THE MAYOR AND THE CORPORATE OFFICER AND SEALED WITH THE SEAL OF THE TOWN OF VIEW ROYAL THIS ______DAY OF ________, 2023
MAYOR
CORPORATE OFFICER