THE CORPORATION OF THE CITY OF PORT COQUITLAM

BYLAW NO. 2375

A Bylaw to authorize the expenditure of monies
in the Tax Sale Lands Reserve Fund.

WHEREAS there is aun unappropriated balance of $3,287,823.95 as at Juue 21st,
[988 in the Tax Sale Lands Reserve Fund consisting of monies received from the
sale of tax sale properties including interest earned thereon and set aside in
accordauce with the provisions of Section 380 of the “Municipal Act"; which
amount has been calculated as foilows:

Balance in Reserve Fund at December 31st, 1987 $2 861,976.01

Add: Additions to fund since December 31st, 1987 ¢ 581,440.00

Less: Expended by Bylaw No. 2342 $ 155,592.06

Balauce in Reserve Fund at June 21st, 1988 $3 ,287,823.95

AND WHEREAS no sinking funds have been or were required to be established;

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $610,000.00 to purchase real property:

NOW THEREFORE the Municipal Council of The Corporation of the City of Port
Coquitlam, in open meeting assembled, enacts as follows:

1. The sum of $610,000.00 is hereby appropriated from the Tax Sale Lands
Reserve Fund for the following purchases of real property:

(a) Lot 2, District Lot 379, Group One,
Plan 3319, New Westminster District
(2247 Wilson Avenue). * 76,000.00

(b> Lot 1, Block N, District Lot 379, Group One,
Plan 16910, New Westminster District
(2275 Leigh Square) $534,000.00

Total $610,000.00

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