A BYLAW FOR THE PURPOSE OF INCREASING A
CAPITAL TRUST FUND
BYLAW NO.
WHEREAS the Council of the Northern
of
deems it desirable to repeal the
existing Capital Trust Fund bylaw as may have been increased and to create a new 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.
The total amount for which the Capital Trust Fund under Bylaw No.
was
created represented by all cash in the fund, plus outstanding repayments of
withdrawals from the Fund as authorized by the Minister of Municipal Affairs
Relations, plus all outstanding instalments due for fund increases.
$
2.2.
Current Year Cash Contribution
$
2.3.
Fund increase by future instalments as 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 $
, as set out in subsection (c) of section 2, shall be provided out of
funds of 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, in accordance with the following schedule.
Year
4.
Amount of Instalment
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.
-2-
5.
Capital Trust Fund Bylaw No.
is hereby repealed.
Read a first time this
day of
, 20
.
__________________
Mayor
SEAL
_______________________
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 by Council 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 "c" 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.