THE CORPORATION OF THE CITY OF PORT CT

BYLAW No. 2543

A Bylaw to authorize the expenditure of monies ) “SEP 24
in the Tax Sale Lands Reserve Fund. OCT 1 - ‘op

WHEREAS there is an unappropriated balance of $11,123,583.00 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 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. 2375 $610,000.00
Bylaw No. 2460 $350 ,000.00
Bylaw No. 2465 $154,000.00
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

TOTAL | $4,669 000.00

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $181,000.00 to construct curbs, boulevard, and pavement on Lobb Avenue
in accord with the Agreement made with Whitney Developments Ltd. on November
14th, 1989 and wherein the said road construction works are detailed on
Drawing No. 89~0168- 2A attached to the said Agreement as Schedule "A";

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

1. (a) The sum of $181,000.00 is hereby appropriated from the Tax Sale Lands
Reserve Fund to construct curbs, boulevard, and pavement on Lobb
Avenue in accord with the Agreement made with Whitney Developments
Ltd. on November 14th, 1989 and wherein the said road construction
works are detailed on Drawing No. 89-0168-2A attached to the said
Agreement as Schedule "A".

The Municipal Council is ‘hereby empowered and authorized to
undertake, carry out, or cause to be carried out, the construction of
the said works generally in accord with the plans and specifications
that have been placed on file in the office of the City Engineer and
to more particularly specify and authorize by resolution all things
necessary in connection therewith.

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.

This Bylaw may be cited for all purposes as the "Tax Sale Land Reserve
Fund Lobb Avenue Construc #1@Re kee nag pre Bylaw, 1990, No. 2543”.

A i2\ ee FINAL READING