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Rural Municipality of Grahamdale
By-Law No. 1022-2020
BEING A BY-LAW TO ESTABLISH A RESERVE FUND FOR
DEVELOPMENT IN THE RURAL MUNCIPALITY OF
GRAHAMDALE.
WHEREAS subsection 168(1) of The Municipal Act provides as follows:
168(1)
"A council may by By-Law establish reserve funds
for any general or specific purpose";
AND WHEREAS it is deemed necessary and desirable to establish a Reserve
Fund for development in the Rural Municipality of Grahamdale.
NOW THEREFORE the Council of the Rural Municipality of Grahamdale enacts
as follows:
1.
THAT a new Development Reserve be created.
2.
THAT the Development Reserve is established for the purpose of fire
protection in Steep Rock, residential and cottage area development and
public recreation in the Municipality;
3.
THAT the balance of monies from the Lafarge Reserve Fund be deposited
into the Development Reserve Fund;
4.
THAT the balance of monies owed under By-Law No. 994-2016 - Loan to
Grahamdale
Development
Corporation
-
be
deposited
into
the
Development Reserve Fund;
5.
THAT monies from the continued sale of cottage lots at Steep Rock
Cottage Subdivision No. 2 and the sale of Lot 15, Block 1, Plan 49585
(Lafarge Cottage Development) be deposited into the Development
Reserve Fund;
6.
THAT all revenue earned on investment of the Development Reserve
Fund shall be considered part of the fund.
7.
THAT all withdrawals from the Development Reserve Fund shall be by
resolution of Council.
8.
THAT By-Law No. 949-2007 that established the Lafarge Cottage
Development Reserve fund be repealed.
DONE AND PASSED as a By-Law of the Rural Municipality of Grahamdale at
Moosehorn, in the Province of Manitoba, this _____ day of _______________,
2020.
_____________________________
Reeve
_____________________________
Chief Administrative Officer
First Reading on _________ day of ______________, 2020.
Second Reading on _______day of ______________, 2020.
Third Reading on ________ day of _______________,2020.