THE CORPORATION OF THE CITY OF PorT cogurTiéN ry
BY-LAW NO.1585 ly \ C

MAR 6 1978
APR - 3 1978

A By~law to authorize the use of the unexpended balance of monies

borrowed by debentures issued pursuant to the provisions and under the
authority of By-law 517 being the "City of Port Coquitlam Water Works
Improvement Loan By-law, No. 517, 1956".

WHEREAS by virtue of the authority of By-law No. 517 cited as the
"City of Port Coquitlam Water Works Improvement Loan By-law, No. 517,
1956" The Corporation of the City of Port Coquitlam issued and sold
debentures of the par value of $123,000.00;

AND WHEREAS all commitments for which the monies realized from the
sale of the said debentures were raised have been met and fulfilled, and
there remains unexpended the sum of $19,000.00 together with bank
interest thereon;

AND WHEREAS it is deemed desirable and expedient to use the monies
to assist in defraying the cost of construction of the South Trunk
Watermain in the City of Port Coquitlam;

NOW THEREFORE the Municipal Council of The Corporation of the City

of Port Coquitlam, in open meeting assembled, enacts as follows:

1. That with reference to By-law No. 517 cited as the “City of Port
Coquitlam Water Works Improvement Loan By-law, No. 517, 1956" the balance
ef the funds now on hand in the sum of $19,000.00 and any interest earned
at the date of withdrawal be used to assist in defraying the cost of
construction of the South Trunk Watermain inthe City and that authority

be hereby granted to do all things necessary in connection therewith.

2. This By-law may be cited for all purposes as the “South Trunk

Watermain Expenditure from Water Works By-law No. 517 By-law, 1978,

Wore: Avarl.bh tor Fiuae Revows
Cvs Corn

No. 1585",