COUNCIL

THE CORPORATION OF THE CITY OF PORT COQUITLAM — MAY 1 & 1984

BYLAW NO. 2042

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

WHEREAS there is an unappropriated balance of $1,232,957.55 as at May Ist, 1984
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 ot Section 380 of the "Municipal Act"; which amount has been
calculated as follows:

Balance in Reserve Fund at January ist, 1984 $ 1,116,943.38

Add: Additions to fund since January Ist, 1984 $ 116,014.17

Batance in Reserve Fund at May Ist, 1984 $ 1,232,957.95

AND WHEREAS no sinking funds have been or were required to be astab\ ished;

AND WHEREAS it is deemed desirable to expend from +he amount so set aside the sum
of $905,000.00 to reconstruct certain roads within the City;

AND WHEREAS the approval of the Minister of Municipal Atfairs has been obtained;

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

1. (a) The sum of $505,000.00 is hereby appropriated from the Tax Sale
Lands Reserve Fund to reconstruct the following roads:

i Oxford Street from Westminster Avenue to Prairie Avenue.
ii Lincoln Avenue from Oxford Street to Wellington Street.

The Municipal Counci! is hereby empower ed and authorized +o undertake,
carry out, or cause to be carried out, the raconstruction of the said
roads generally in accord with the plans and specifications that have
been placed on tile in the office of the city Clerk and to more
particularly specify and authorize by resolution all things necessary In
connection +therewlth.

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