THE CORPORATION OF THE CITY OF PORT COQUITLAM

BYLAW NO. 2342

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

WHEREAS there is an unappropriated balance of $2,864,416.01 as at February
22nd, 1988 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";
which amount has been calculated as follows:

Balance in Reserve Fund at December 31st, 1987 $2 ,861,976.01

Add: Additions to fund since December 31st, 1987 $ 2,440.00
Balance in Reserve Fund at February 22nd, 1988 $2 ,864,416.01

AND WHEREAS no sinking funds have been or were required to be established;

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $155,592.06 to purchase real property:

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 $155,592.06 is hereby appropriated form the Tax Sale Lands
Reserve Fund for the following purchases of real property:

(a) Lots 17 and 18; District Lot 255, Group 1,
Plan 2538; New Westminster District
(1950 McLean Avenue). $ 78,123.26

(b) Lot 2 (Except parts on plan with bylaw filed

6287); Block C; District Lot 289; Group One;

Plan 1954; New Westminster District

(2384 Mary Hill Road) $ 77,468.80

$155,592.06

FIRST THREE REAQINGS