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THE CORPORATION OF THE COUNTY OF ESSEX <br /> <br />BY-LAW NO. 1347 <br /> <br />~ a By-law for the establishment and <br />maintenance of a Reserve Fund. <br /> <br /> WH~qEAS The Municipal Act provides that the Council in <br /> <br />each year may if aubhorized by a Two-thirds vote cf the Members <br />provide in the estimates for the establishment of a Reserve Fund <br />for any purpose f~r which it has anthority to spend funds; <br /> <br /> ~D %~JEREAS it is expedient to establish a Reserve <br /> <br />Fund for the purpose of providing funds for..................the construction .o.f.~.. <br /> .ddition to the Sun Parlor H~ne for Senior Citizens in the County <br /> <br /> of E~sex. <br /> <br /> e Count <br /> THEREFORE The Council of the Corporation of th ......~..... <br /> <br /> f E sex <br />o ....~.......ENACTS AS FOLLG~S: <br /> <br /> 1. That a Reserve Fund be established and maintained for <br /> <br />the purpose ^* constructing an addition to the Sun Parlor H~e for <br />Senior Citizens in the County of Essex. <br /> <br /> of h r v e Co H F <br /> 2. The total sum .~.$..$~.e~.~.~$.~.$....u~¥..~x~$..~.... <br /> <br />for the purpose described in Section 1. <br /> <br />............ 3. ~nd a further amount of the difference between the <br />revenues for 1959 as described in Section 2, of the said By-law and <br /> <br />that provided for in the 1959 Budget for the hereinbefore described <br />revenues be also deposited to the said ,,Reserve Fund". <br /> <br /> ^~ the said reveues, as have been <br /> 4, The said total s~m ~.........................,...,..... <br /> received and shall be received from time to time as .provided for in <br /> <br /> Section 2 and 3 sh~ll be deposited in a special bsnk account designated <br /> mReserve Fund .~p~.~'~-.~.~g.I~$-~'$.I.T~P.~i~'~.~,.~-~...., and may be <br /> invested in such securities as a trustee may inve~t in ~der The <br /> Trustee Act, and the earnings derived from the investment of ~uch <br /> monies shall form part of the Reserve Fund. <br /> <br /> 5. The money raised for the said Reserve Fund shall not be <br /> expended, pledged or applied to any purpose other than that for <br /> which the f~nd was established without the approval of the Department <br /> of ~micipal Affairs. <br /> <br /> 6. The Auditor of the Municipality shall verify to the Dept. <br /> of Municipal Affairs not later than March 1st in each year in such form <br /> <br /> <br />