eceme rena: a REL Sai et eset ete tenants rain aman scmmtane mmm em ana me COUNCI THE CORPORATION OF THE CITY OF PORT COQUITLAM FEB 17 1986 BYLAW NO. 2165 A Bylaw to provide tax reductions for new industrial improvements under the provision of Section 3 of the Provincial-Municipal Partnership Act. WHEREAS the Counci! of the Corporation of the City of Port Coquitiam is empowered by the Municipal Act to impose and levy taxes for all lawful general and debt purposes on the value of ftand and improvements: , AND WHEREAS the Council has entered into an agreement with the Minister of Municipal Atfairs pursuant to Section 2 of the Provincial-Municipal Partnership Act: NOW THEREFORE the Municipal Council of the Corporation of the City of Port Coquitiam in open meeting assembled enacts as follows: 1. tn this bylaw "eligible improvements" mean improvements within the meaning of the Assessment Act that are (a) within the industrial class of improvements prescribed under Section 26 of the Assessment Act or within the industrial..class of improvements prescribed by the Lieutenant Governor in Council under the Provincial-Municipal Partnership Act, and - entered on or eligible to be entered on an assessment rol! for the first +ime after September 29th, 1986 as specified in fhe Provincial-Municipal Partnership Agreement. in this Bylaw "Tax" means a tax payable under Section 273(a) and (b) of the Municipal Act. In accordance with Section 3(2) and 3(3) of the Provincial-Municipal Partnership Act, the taxes levied under Section 273(a) and 273(b) of the Municipal Act on eligible improvements shall be reduced in the years and by the percentages indicated below 1987 50 percent 1988 50 percent 1989 50 percent 1990 50 percent