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THE CORPORATION OF THE CITY OF PORT COQUITLAM AUG 2 4 1992

BYLAW NO. 2707

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

WHEREA there is an unappropriated balance of $7,556,846.03 as at December
31st, 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 said amount in the Tax Sale Lands

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
Bylaw No. 2644 ~ Leigh Square Improvement 300,060.00

TOTAL 2,925,000.00

———_o

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $750,000.00 to pay the cost of design, soil testing, and site
preparation necessary to relocate the City's Works Yard and No. 1 Fire Hail
from their present locations at 2170 Kelly Avente and 2352 McAllister Avenue
to City owned property in the 1600 Block Broadway Street; including such like
works as may be necessary to facilitate the sale of the former sites.

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 $750,000.00 is hereby appropriated from the Tax Sale Lands
Reserve Fund to pay the cost of design, soil testing, and site preparation
necessary to relocate the City's Works Yard and No. 1 Fire Hall from their
present locations at 2170 Kelly Avenue and 2352 McAllister Avenue to City
owned property in the 1600 Block Broadway Street; including such like
works as may be necessary to facilitate the sale of the former sites.

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.

FIRST THREE READINGS

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