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~ JUN 27 4999

THE CORPORATION 3F THE CITY OF PORT COQUITLAM

BYLAW NO. 2375

A Bylaw to auther.ze the expenditure of monies
in the Tax © + Lands Reserve Fund.

WHEREAS there is an unappropriated balance of $3,287,823.95 as at June d2lst,
1988 in the Tax Sale Lands Reserve Fund cousisting of monies received from the
sale of tax sale properties including interest earned thereon and Set acs.ue 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 3lst, 1987 $2 ,861,976.01

Add: Additions to fund since December 31st, 1987 $ 581,440.00

Less: Expended by Bylaw No. 2342 $ 155,592.06

Balance in Reserve Fund at June 2ist, 1988 $3 287,823.95

AND WHEREAS ao 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 $610,000.00 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 $610,000.00 is hereby appropriated from the Tax Sale Lands
Reserve Fund for the following purchases of real property:

.a) Let 2, District Let 379, Group One,
Plan 3319, New Westminster District
(2247 Wilsou Avenue). $ 76,000.00

(b) Lot 1, Block N, District Lot 379, Group One,
Plan 16910, New Westminster District
(2275 Leigh Square) $534,000.00

Total $610,000.00

WIRST THREE READINGS