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C-19 - Cities and Towns Act

Section 569.3
Disposition versions

Full text
569.3. The by-law establishing a financial reserve must be submitted for approval to the qualified voters of the entire territory of the municipality or of the sector for whose benefit the reserve is established. The by-law must set out
(1)  the purpose for which the reserve is established;
(2)  the projected amount of the reserve;
(3)  the mode of financing of the reserve;
(4)  in the case of a reserve of specified duration, the duration of the existence of the reserve;
(5)  the allocation of the amount, if any, by which income exceeds expenditures at the end of the existence of the reserve.
The by-law shall also state that the reserve is established for the benefit of the entire territory of the municipality or for the benefit of a specific sector, and shall, in the latter case, describe the limits of the sector.
The approval required under the first paragraph is not required where a reserve is established to meet a requirement of the Government, a minister or a government body as a result of the application of an Act or regulation or to finance election-related expenditures.
1997, c. 93, s. 65; 2001, c. 68, s. 21; 2010, c. 18, s. 31.
569.3. The by-law establishing a financial reserve must be submitted for approval to the qualified voters of the entire territory of the municipality or of the sector for whose benefit the reserve is established. The by-law must set out
(1)  the purpose for which the reserve is established;
(2)  the projected amount of the reserve;
(3)  the mode of financing of the reserve;
(4)  in the case of a reserve of specified duration, the duration of the existence of the reserve;
(5)  the allocation of the amount, if any, by which income exceeds expenditures at the end of the existence of the reserve.
The by-law shall also state that the reserve is established for the benefit of the entire territory of the municipality or for the benefit of a specific sector, and shall, in the latter case, describe the limits of the sector.
The approval required under the first paragraph is not required where a reserve is established to meet a requirement of the Government, a minister or a government body as a result of the application of an Act or regulation.
1997, c. 93, s. 65; 2001, c. 68, s. 21.
569.3. The by-law establishing a financial reserve must be submitted for approval to the qualified voters of the entire territory of the municipality or of the sector for whose benefit the reserve is established. The by-law must set out
(1)  the purpose for which the reserve is established;
(2)  the projected amount of the reserve;
(3)  the mode of financing of the reserve;
(4)  in the case of a reserve of specified duration, the duration of the existence of the reserve;
(5)  the allocation of the amount, if any, by which income exceeds expenditures at the end of the existence of the reserve.
The by-law shall also state that the reserve is established for the benefit of the entire territory of the municipality or for the benefit of a specific sector, and shall, in the latter case, describe the limits of the sector.
1997, c. 93, s. 65.
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