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PAPERS AC TRADR uty! a4 OS OGLEETAYE A

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THE CORPORATION OF THE CITY OF PORT COQUITLAM

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BYLAW NO.«2080

A bylaw to authorize the borrowing of PER 44 G0
The estimated cost of censtructing
Improvemants to the water system.

WHEREAS It [5 ae@emed aesirable and expedient to construct Improvements to tha
water system servicing the South Mary HII! area,

AND WHEREAS the estimated cost of constructing improvements to the water system :

Including expenses Incidental thereto Is the sum of $630,000.00 which Is the amount of
debt Intended to be created py This bylaw. = ¢

AND WHEREAS the amount of the assessed value for general municipa! purposes of
The taxable lang and Improvements for the current year and for each of tne two years
Immediately preceding the current year were:

1985 ~ $834,578,367.00
1984 = $834,213,967.00
1983 ~ $826,724,952.00

AND WHEREAS The depreciated value as at the 31st aay of December 1984 of the
water utiilty for which the municipality possesses a subsisting certificate of seit a
liqulaatton granted by the Inspector of Municipalities was $2, 187,000.00.

AND WHEREAS & provisional certificate of self-iiqulaation has been Issued tn
respect of the sewer system of the municipallty.

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AND WHEREAS the amount of the author! zea debenture aebt of tie municipality ts
| $2,697,869.00 of which $2,697,869.00 Is existing outstanalng debenture dept and
+ Nil 9s authorizea and unissued debenture dept, and none of the principal or |
Interest of the debenture debt of the municipality Is In arrears.

AND WHEREAS the approval of tne Provinclal Healtn Officer nas bean obtalned.

AND WHEREAS the maximum term tor whieh aebentures may be issued To secure The
debt created by This pyiaw Is 20 years,

NOW THEREFORE the Muntetpal Counecl! of tne Corporation of The Clty of Pert
Coquitiam, In open meeting assembied, enacts as follows:

1. Tne Counc!! is hereby empowered and author!zea to undertake and carry out or

cause to be carried out the construction of Improvements to the water system
generally In accordance with géneral plans on tlle In the municipal office and To
do all things necessary In connection therewith ana without limiting the
generailty of the foregoing -

(1). To borrow upon the crealt of the Muntclpality a sum not
exceeding $630,000.00.

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FIRST THAGE READINGS

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