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THE CORPORATION OF THE CITY OF PORT COQUITLAM

FEB {0 1992
BYLAW NO. 2643 FEB 17 1992

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

WHEREAS there is an unappropriated balance of $7,556,846.03 as at December
3iet, 1991 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 gaid amount in the Tax Sale Landa
Reserve Fund: |

Bylaw No. 2539 ~ Coquitlam River Drainage 175,000.00
Bylaw No. 2552 ~ Trenton Avenue Sanitary
Sewers & Waterworks $450,000.00

Bylaw No. 2642 - Reeve St. Park
Construction $2 000,000.00

TOTAL $2,625 000.00

AND WHEREAS it ts deemed desirable to expend from the amount so get aside the
sum of $200,000.00 to purchase real property and cover related coats.

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 $200,000.00 is hereby appropriated from the Tax Sale Lands
Reaerve Fund for the following purchase of real property and to cover
related costs?

The northerly 66 feet of Lot 20, District Lot 231, Group One, Plan
11613, New Westminster District.

Should any of the amount appropriated 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.

FINAL READING