THE CORPORATION OF THE CITY OF PORT COQUITLAM

BY-LAW NO. 1788 . -C O) JUN

A By-law to amend the “City of Port Coquitlam Advanced Payment of

Taxes By-law, 1974, No. 1297". NOV 10 1989
The Municipal Council of The Corporation of the City of Port Coquitlam,
in open meeting assembled, enacts as follows: , |
i: ee Clause (b) of Section 3 of the "City of Port Coquitiam Advanced
Payment. of Taxes By-law, 1974, ‘No. 1297" is repealed and. the following: substituted:
| "(b) ‘the rate of interest allowable pursuant to clause (a) ,
of this Section is hereby established as two percentage
points less than the Prime Bank Interest Rate charged
by the Port Coquitlam Main Branch of the Royal Bank of
Canada on’ the first business day of the then current
year and the rate of interest thus established shall be
the rate of interest used to calculate all allowances
throughout the entire period such allowances are or
. become payable pursuant to the terms of this By-law,
notwithstanding any fluctuation in the said Prime Bank
Interest Rate subsequent to the first business day in.
| the then current year." . |
(2. os - This By-law may be cited for all purposes as the "City of Port Coquitlam

Advanced Payment of Taxes By-law, 1974, No. 1297 Amendment By-law, 1980, No. 1788".

FIRST THREE READINGS _