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BYLAW NO. 2642

hte Grantees

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

WHEREAS there is an unappropriated balance of $7,556,846.03 ag at December
3ist, 1991 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 funde have been or were required to be established;

AND WHEREAS the following bylawa 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. 2539 = Coquitlam River Drainage $175,000.00
Bylaw No. 2552 - Trenton Avenue Sanitary
Sewers & Waterworks $450,000.00

TOTAL $625 000.00

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $2,000,000.00 to develop Phase 1 of Reeve Street park including, but
not limited to, the construction of:

a. three softball diamonds,
one seccer field,
one children's playground,
change facilities,
landscaping and other ancillary facilities;

generaily in accord with the report aad conceptual plan prepared by J. Reeve
Consultants Ltd., Toby Russell Buckwell, Architects, and Intercad Services
Ltd. as presented to the Council at its meeting of December 16th, 1991 and on
file in the office of the City's Parks and Re:reation Director;

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

1. (a) The Municipal Council is hereby empowered and authorized to expend
the sum of $2,000,000.00 from the amount so set aside te develop
Phase 1 of Reeve Street park including, but not limited to, the
construction of: .

a. three softball diamonds,

b. one soccer fleld,

ce one children's playground,

d. change facilities, |

e. landscaping and other ancillary facilities;

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