A BYLAW FOR THE PURPOSE OF
CREATING A CAPITAL TRUST FUND
BYLAW NO.
WHEREAS the Council of the Northern
of
deems it desirable to create a
Capital Trust Fund for constructing or acquiring capital works, including the purchase of
machinery, and for such other purposes as may be approved by the Minister of Government
Relations, pursuant to the provisions of section 187 of The Northern Municipalities Act.
NOW, THEREFORE, the Council of the
Saskatchewan, hereby enacts:
of
in the Province of
1.
That for the purpose hereinbefore stated and subject to the approval of the Minister of
Municipal Affairs, a Capital Trust Fund in the sum of
Dollars ($
) shall be created.
2.
There shall be assigned to the said fund the following:
2.1.
Current year cash contribution
$
2.2.
Balance set out in section 3
$
TOTAL FUND BALANCE
$
and same shall be deposited with a chartered bank or credit union incorporated under The
Credit Union Act,1998, in a separate and designated account called "The Northern
of
Capital Trust Fund."
3.
The sum of $
, being the balance required to complete the said Fund, shall be
provided by the
in equal annual instalments of $
in the
years 20 to 20
inclusive, and each such instalment shall be deposited in the Fund on
or before December 31st in the year in which it falls due.
4.
The establishment, addition to, reduction of, and use of the Fund shall be subject to the
approval of the Minister of Municipal Affairs upon such terms and conditions as the
Minister may specify.
Read a first time this
day of
, 20
.
______________________________
Mayor
SEAL
Date
_____________________________
Clerk/Administrator
_________________________
Deputy Minister or designate
for and on behalf of the Minister of
Municipal Affairs
Date Approved
Read a second time this
Read a third time this
day of
day of
, 20 .
, 20 .
______________________________
Mayor
SEAL
______________________________
Clerk/Administrator
NOTE:
1.
This bylaw should be given first reading only and submitted to the Minister of
Municipal Affairs for approval. Only after the proposed bylaw has been approved
by the Minister can the bylaw be given second and third readings.
2.
If section "b" of the second enacting clause and the third enacting clause of the
bylaw are not applicable then these should be omitted and the following enacting
clauses should be renumbered to form a proper sequence. Non applicable statutory
references should also be omitted from the bylaw.