CITY OF REVELSTOKE
BYLAW NO. 1617, 1999
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A Bylaw To Establish A Reserve Fund
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WHEREAS the Municipal Council of the City of Revelstoke deem it necessary to establish a reserve fund for the replacement, renewal or repair of existing Mt. Mackenzie ski hill chair lift equipment for the City of Revelstoke.
NOW THEREFORE the Municipal Council of the City of Revelstoke, Province of British Columbia in open meeting assembled enacts as follows:
1. There shall be and is hereby established a reserve fund, pursuant to the provisions of Section 496 of the Municipal Act, to be known as the "Mt. Mackenzie Chair Lift Reserve Fund."
2. Funds from current revenue, general revenue fund surplus, or as otherwise provided in the Municipal Act may, from time to time, be paid into the Reserve Fund.
3. The monies set aside shall be deposited in a separate bank account and, until required to be used, may be invested in the manner provided by the Municipal Act.
4. The monies in the Reserve, and any interest earned thereon, shall only be extended in accordance with the Municipal Act, for the replacement, renewal, or repair of existing chair lift equipment.
5. This Bylaw may be cited for all purposes as the "City of Revelstoke Mt. Mackenzie Chair Lift Reserve Fund Establishment Bylaw No. 1617, 1999".
6. This Bylaw shall come into full force and effect upon its' adoption.
READ A FIRST TIME THIS 26th DAY OF JULY , 1999
READ A SECOND TIME THIS 26th DAY OF JULY , 1999
READ A THIRD TIME THIS 26th DAY OF JULY , 1999
ADOPTED THIS 9th DAY OF AUGUST , 1999.
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CLERK MAYOR
I hereby certify the foregoing to be a true and correct copy of the "City of Revelstoke Mt. Mackenzie Chair Lift Reserve Fund Establishment Bylaw No. 1617, 1999".
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CLERK
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