HomeMy WebLinkAboutBy-law No. 2003-096 CORPORATION OF THE
MUNICIPALITY OF BAYHAM
BY-LAW NO.2003-096
A BY-LAW TO ESTABLISH A RESERVE FUND
FOR THE EDISON MUSEUM OF VIENNA
WHEREAS section 417 of the Municipal Act, 2001, 5.0. 2001 authorizes a municipality to
provide for the establishment or maintenance of a Reserve Fund in its' current estimates;
THEREFORE THE COUNCIL OF THE CORPORATION OF THE MUNICIPALITY
OF BAYHAM ENACTS AS FOLLOWS:
1. THAT a reserve fund be established and maintained to provide funds for capital
expenditures for the Edison Museum of Vienna.
2. THAT any monies provided in the current estimates,by donation or through fundraising
events, for the said reserve fund shall be deposited to the credit of the reserve fund in the
account generally used for reserve funds.
3. THAT the monies raised for the said reserve fund shall not be expended,pledged, nor
applied for any purpose other than that for which the fund was established, unless duly
authorized by by-law.
4. THAT the Treasurer may, from time to time, invest such funds and the earnings derived
from the investment of such funds shall form part of the reserve fund.
5. THAT this By-law shall come into full force and effect upon the date of its enactment.
READ A FIRST, SECOND AND THIRD TIME AND FINALLY PASSED THIS 16th
DAY OF OCTOBER 2003.
jear.,17(2-
MAYO CLERK