Finance & Taxation · Bylaw 6-2023

Bylaw 6-2023 raises Ormstown's working capital fund from $150,000 to $1.36 million

Bylaw 6-2023, in force since June 6, 2023, rewrites one article of Bylaw 6-2000, which set up the town's working capital fund (fonds de roulement). It does not say where the money for the increase comes from or what the fund is for, and it contains no rules on drawing on the fund or repaying it.

The Ormstown Observer · Bylaws & Regulations Explainer

Key takeaway

The fund's capital is now $1.36 million, printed as “1,36M$” (art. 2).
The fund previously stood at $150,000, according to the preamble (art. 1).
The fund cannot exceed 20% of the credits in the current year's budget, the preamble states (art. 1).
The bylaw sets no rule for residents, no fee and no fine (art. 1–3).

Why this bylaw exists

The preamble cites articles 1094 and following of the Code municipal du Québec as allowing the municipality to increase the fund set up under Bylaw 6-2000. Article 1 makes the preamble part of the bylaw.

Notice of motion was given and the draft tabled on May 1, 2023. The bylaw was adopted on June 5, 2023, unanimously among members present. Public notice of adoption and entry into force are both dated June 6, 2023.

What it changes

Article 2 rewrites article 3 of Bylaw 6-2000, titled “Capital”, to read: “The capital of this fund is $1.36 million” (Le capital de ce fonds est de 1,36M$). The bylaw's other two articles concern the preamble (art. 1) and entry into force (art. 3).

What the bylaw does not say

The text does not reproduce Bylaw 6-2000. It does not say where the money to raise the fund comes from or what the fund may be used for, and it contains no rules on drawing on the fund or repaying it. The Observer has not reviewed Bylaw 6-2000.

What this means for residents

Bylaw 6-2023 sets no rule, fee or fine for residents (art. 1–3). It changes the capital of the municipality's working capital fund (art. 2).

Sources

This explainer summarizes the bylaw in plain language. The French text is the official version; check it, or ask the municipality, before relying on any detail.

This bylaw explainer is presented as a courtesy of The Ormstown Observer in the interest of promoting a better understanding of the rules and regulations that govern the community. The content presented in Bylaw Explainers is provided for educational and informational purposes only and does not constitute legal advice, legal opinion, or a substitute for professional legal counsel.