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THR CORPORATION OF THE CITY OF PORT CoQurT

BYLAW NG. 2639

A bylaw to authorize the transfer of surplus funds from the
credit of the Local Improvement Charge Reserve Fund
to the Tax Sale Lands Reserve Fund.

WHEREAS under section 382 of the Municipal Act, Council may, by bylaw with the
approval of the Minister, transfer to another fund established under Part 7 of
the Municipal Act all or part of the amount to the eredit of a Reserve or

Local Improvement Fund which is greater than its requirements;

AND WHEREAS all commitments of the Local Improvement Charge Reserve Fund have
been met and fulfilled and there remains at December 31st, 1991 the unexpended
sum of $297,058.26;

AND WHEREAS it is the intention of Council to authorize under the provisions
of Section 382 of the Municipal Act the transfer of $297,058.26 together with
interest thereon to a Reserve Fund;

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

Ll. The sum of $297,058.26 together with interest thereon, being in excess of
the requirements of the Local Improvement Charge Reserve Fund established
under the previsions of Section 381 of the Municipal Act is authorized to
be transferred to the Tax Sale Lands Reserve Fund.

The "Local Improvement Charge Bylaw, 1969, No. 912" is repealed.

This bylaw may be cited for all purposes as the "Local Improvement Charge
to Tax Sale Reserve Fund Transfer Bylaw, 1992, No. 2639."

Read a First time by the Municipal Council this 27th day of April, 1992.

Read a second time by the Municipal Council this 27th day of April, 1992.
Read a third time by the Municipal Council this 27th day of April, 1992.
Reconsidered, finally passed and adopted by a vote in favour thereof of at

least two-thirds of all the members of the Municipal Council of the
Corporation of The City of Port Coquitlam this day of » 1992.