THE CORPORATION OF THE CITY OF PORT COQUITLAM

BYLAW No. 2560

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

WHEREAS there is an unappropriated balance of $11,123,583.09 as at December
3ist, 1989 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 heve 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. 2375 $610,000.00
Bylaw No. 2460 $350,000.00
Bylaw No. 2465 $154,000.06
Bylaw No. 2489 $300,000.00
Bylaw No. 2496 $390,000.00
Bylaw No. 2497 $2,000 ,000.00
Bylaw No. 2514 $400,000.00
Bylaw No. 2538 $290,000.00
Bylaw No. 2539 $175,000.00
Bylaw No. 2543 $181,000.00
Bylaw No. 2551 $180,000.00
Bylaw No. 2552 $450,000.00

TOTAL $5 480,000.00

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $305,000.00 to purchase real property;

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

1. The sum of $305,000.00 is hereby appropriated from the Tax Sale Lands
Reserve Fund for the following purchase of real property;

Lots 3 of Block A District Lot 174 & 289, Plan 9069 New Westminster
District

2. 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.

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5 |? FINAL READING

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