THE CORPORATION OF THE CITY OF PORT COOL

BYLAW NO. 2252

By ie o

A Bylaw to authorize the expenditure of monies MAR { § 1987
in the Tax Sale Lands Reserve Fund. ep 97 1987

WHEREAS there is an unappropriated balance of $2,622,534.74 as at March 3rd,

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 Acti: which
amount has been calculated as follows: .

Balance in Reserve Fund at December 31st, 1986 $§ 3,285,686.3
Add: Additions to fund since December 3ist, 1986 $ 36,846.36
Less: Previously authorized expenditure under $ 700,000.00

Bylaw No. 2246

H

balance in Reserve Fund at March 3rd, 1987 2,622,534.,74

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 $320,000.00 to purchase property at the Southwest corner of Knappen Street and
Pooley Avenue and make certain other expenditures in connection therewith.

ANO WHEREAS the approval of the Minister of Munictpa! Affairs has been obtained;

NOW THEREFORE the Municipal! Council! of The Corporation of the City of Port

Coquitlam, in open meeting assembted, enacts as follows:

The sum of $150,000.00 Is hereby appropriated from the Tax Sale
Lands Reserve Fund for the following purchase of real property:

1.

Lot 12 as shown on a@ Subdivision Plan of Lot "8",
District Lots 232 and 384, Group 1, Plan 5257,

Except: Firstiy: Parcel 1, (Reference Plan 16837)
Secondly: Part Subdivided by Plan 28467

and Thirdly: Part subdivided by Plan 31203,

New Westminster District: Containing 0.1663 ha.

acquisition of which parcel of land }!s hereby authorized.

The sum of $160,000.00 Is hereby appropriated from the Tax Sale Lands
Reserve Fund to improve for full utility of ail three floors the
historical building located on the property hereinbefore described in the
manner approved by Council at its meeting of January 19th, 1987 and the
making of such improvements are hereby authorized.