ff THE CORPORATION OF THE CITY OF PORT COQU |

BYLAW: NO. 2299

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

WHEREAS there is an unappropriated balance of $6,456,842.34 as at August !1th,
1987 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:

Batance in Reserve Fund at December 31st, 1986 $ 3,285,686.38
Add: Additions to fund since December 3lst, 1986 $4,311,155.96
Less: Previously authorized expenditure under

Bylaw No. 2246 $ 700,000.00

Bylaw No. 2252 . $ 320,000.00

K Bylaw No. 2287 $ 120,000.00

i | Balance in Reserve Fund at August 11th, 1987 $ 6,456 ,842.34
He | 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 $3,000,000.00 to renovate and construct an additicn to the Port Coquitlam City
Hall tocated at 2272 McAllister Avenue, Port Coquitlam, 8.C.;

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

Setsg

; 1. (a) The sum of $3,000,000.00 is hereby appropriated from the Tax Sale
‘ Lands Reserve Fund to renovate and construct an addition to the Port
. Coquitlam City Hail located at 2272 McAllister Avenue, Port Coquitlam,

BeCe;

BO : (b) The Municipal Council! is hereby empowered and authorized to undertake,
: . | : carry out, or cause to be carried out, the construction of the said
: renovations and additions generally in accord with the plans and
specifications that have been placed on file in the office of the City .

* Clerk and to more particularly specify and authorize by resolution al| 5
: | ok things necessary in connection therewith.

3 READINGS ;

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