THE CORPORATION OF THE CITY OF PORT coqurtfak ¢ J rN

BY-LAW NO. 1586 'G

MAR 6 1978

A By-law to authorize the use of the unexpended balance of monies
borrowed by debentures issued pursuant to the provisions and under the
authority of By-law 966 being the “Security Issuing By-law, 1969, No. 966".

WHEREAS by virtue of the authority of By-law No. 966 cited as the
“Security Issuing By-law, 1969, No. 966" The Corporation of the City of
Port Coquitlam issued and soid debentures of the Far value of $195,000.00;

AND WHEREAS all commitments for which the monies realized from the

sale of the said debentures were raised have been met and fulfilled, and

‘there remains unexpended the sum of $61,600.00 together with bank interest
thereon;

AND WHEREAS it is deemed desirable and expedient to use the monies
to assist in defraying the cost of construction of the South Trunk
Watermain in the City of Port Coquitlam;

NOW THEREFORE the Municipal Council of The Corporation of the City

of Port Coquitlam, in open meeting assembled, enacts as follows:

1. That with reference to By-law No. 966 cited as the "Security Issuing
By-law, 1969, No. 966" the balance of the funds now on hand in the sum of
$61,000.00 and any interest earned at the date of withdrawal be used to
assist in defraying the cost of construction of the South Trunk Watermain
in the City and that authority be hereby granted to do all things necessary
in connection therewith.

2. This By-law may be cited for all purposes as the "South Trunk Watermain

Expenditure from Security Issuing By-law No. 966 By-law, 1978, No. 1586".