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MAY 13 1991

THE CORPORATION OF THE CITY OF PORT COQUITLAM MAY 27 1991

BYLAW No. 2599

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

WHEREAS there is an unappropriated balance of 48, 743,809.74 as at December
3ist, , 1990 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 accordance with the provisions of Section 380 of the "Municipal Act";

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

AND WHEREAS the following bylaws have been passed to authorize the expenditure
of funds in the following amounts from the said amount in the Tax Sale Lands

Reserve Fund:

Bylaw No. 2465 - Dyke Construction $154,000.00
Bylaw No. 2514 - Recycling Equipment $400 ,000 .00
Bylaw No. 2539 ~ Coquitlam River Drainage $175,000.00
Bylaw No. 2543 ~ Lobb Avenue Construction — $181,000.00
Bylaw No. 2552 - Trenton Avenue Sanitary

Sewers & Waterworks $450,000.00
Bylaw No. 2560 - Purchase 2568 Pitt River $310,000.00
Bylaw: No. 2588 - Langan Ave. Construction $190,130.00

TOTAL $1 860,130.00

AND WHEREAS it'is deemed desirable td expend from the amount so set aside the
sum of $699,000.00 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 $699,000.00 is hereby appropriated from the Tax Sale Lands
Reserve Fund for the following purchase of real property;

Lot 2, DL 255, Plan 11613

Should any of the amount expropriated remain unexpended after the
expenditures hereby authorized have been made, the unexpended balance
shall be returned to the credit of the said Tax Sale Lands Reserve Fund.

3. This Bylaw may be cited for.all purposes as the. "Tax Sale Land Reserve
Fund Property Purchase Expenditure Bylaw, 1990, No. 2599.

Read a first time by the Municipal Council this 13th day of May, 1991.

Read a second time by the Municipal Council this 13th day of May, 1991.

Read a third time by the Municipal Council this 13th day of May, 1991.

AAT