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THE CORPORATION OF THE CITY OF PORT COQUITLAM

MAR 5 -- 1990

BYLAW No. 2488

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

: WHEREAS there is aw unappropriated balance of $11,330,728.12 as at December
3ist, 1989 in the Tax Sale Lands Reserve Fund consisting of monies received

oe from the sale of tax sale properties including interest earned thereon and get
es aside in accordance with the provisions of Section 380 of the “Mupicipal Act";

AND WHEREAS no sinking funds hava been or were required to be established;

: AND WHEREAS it is deemed desirable to expend from the amount so set aside the
: sum of $295,028.37 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:

4. ; ae a 1. The sum of $295,028.37 is hereby appropriated from the Tax Sale Lands
CoE a a og Reserve Fund for the following purchases of reel property;

- ie a oe : (a) Lot 11 and Lot 12, District Lots 174 and 289,
Be Group One, Plan 2080, New Westminster District
(2368 Rindall Avenue) $150, 035.48

(a) Lot B, District Lot 289, Group One,
Plan 15124, New Westminster District
(2257 Atkins Avenue) — $144,992.89

Total $295 028.37

2. The detailed purchase arrangements with respect to the expenditures

authorized by this bylaw shall be more particularly specified by | F
resolution of the Council.

ao vo 7 4 3. Should any of the amount expropriated remain unexpended after the
7, expenditures hereby authorized have been made, the unexpended balance
shall be returned to the credit of the said Tax Sale Lands Reserve Fund.

4. This Bylaw may be cited for all purposes as the "Tax Sale Land Reserve
Fund Property Purchase Expenditure Bylaw, 1990, Now 2488".

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