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THE CORPORATION OF THE CITY OF PORT COQU! TVA

BYLAW NO. 2091

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

WHEREAS there is an unappropriated balance of $1,689,952.52 as at December 3ist,
1984 in the Tax Sale Lands Reserve Fund consisting of monies recalved 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"; which
amount has been calculated as follows;

Balance in Reserve Fund at June 16th, 1984 727,957.55

Add: Additions to fund since June 16th, 1984
including interest earned to December

3Sist, 1984 $ 961,994.97

Balance in Reserve Fund at December 31st, 1984 $ 1,689,952.52

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

«

AND WHEREAS it is deemed desirable to expend from the amount so sat aside the sum
of $72,000.00 to purchase real property: |

AND WHEREAS. the approval of the Minister of Municipal. Affairs has been obtained;

NOW THEREFORE the Municipal Gounci! of The Corporation of the City of Port
Coquitiam, in open meeting assembled, enacts as fol lows:

‘4

The sum of $72,000.00 is hereby appropriated from the Tax Sale Lands

1.
Reserve Fund for the following purchases of real property:
Lot 10, Block 24, District Lots 174 and 289, Group One,

(a)
Pian 2080, New Westminster District

$ 36,000.00

(b) Lot 12, Block 24, District Lots 174 and 289, Group One,

Pian 2080, New Westminster District $ 36,000.00

$ 72,000.00

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

This Bylaw may be cited for all purposes as the "Tax Sale Land Reserve
Fund Expenditure Bylaw, 1985, No. 2091",

FIRST THREE READINGS