THE CORPORATION OF THE CITY OF PORT COQUITLAM

BYLAW NO. 2497

A Bylaw to iuthorize the establishment of a Reserve Fund pursuant to
the provisions of Section 378 of the Municipal Act and the transfering
thereto of $2,000,000.00 from the Tax Sale Lands Reserve Fund.

WHEREAS there is an, unappropriated balance of $11,123,583.00 as at December
3lst, 1989 in the Tax Sale Lands Reserve Fund consisting of monies received
from the sale of taz sale properties including interest earned thereon and set
aside ‘n accordance with the provisions of Section 380 of the "Municipal Act”;

AND WHEREAS Bylaw No. 2460 has been passed to authorize the expenditure of
funds in the amount of $350,000.00 from the said amount in the Tax Sale Lands
Reserve Fund;

AND WHEREAS Bylaw No. 2465 has been passed to authorize the expenditure of
funds in the amount of $154,000.00 from the said amount in the Tax Sale “ands
Reserve Fund;

AND WHEREAS Bylaw No. 2489 has been passed to authorize the expenditure of
funds in the amount of $300,000.00 from the said amount in the Tax Sale Lands
Reserve Fund;

AND WHEREAS Bylaw No. 2496 has been passed to authorize the expenditure of
funds in the amount of $390,000.00 from the said amount in the Tax Sale Lands
Reserve Fund;

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

AND WHEREAS it is deemed desirable to transfer from the amount so set aside to
the Public Works Capital Expenditure Fund hereinafter established the sum of
$2,000,000.00;

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

1. A reserve fund to be known as the Public Works Special Capital Expenditure
Reserve Fund is established pursuant to the provisions of Section 378 of
the Municipal Act.

2. The transfer of $2,000,000.00 from the Tax Sale Lands Reserve Fund to the
Public Works Special Capital Expenditure Reserve Fund herein established
is authorized.

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