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THE CORPORATION OF THE CITY OF PORT CQQUITLAM
a :

A By-law to authorize the construction of certain Recreational JUN 2 5 197%
Facilities in the City of Port Coquitlam and the borrowing of the estimated
cost thereof,

WHEREAS it is deemed desirable and expedient to construct certain
Recreational Facilities in the City including a covered swimming pool, a
soclal~recreat/-1 centre, an ice sutface, and a senior citizens’ centre in
the City of Port Coquitlam;

AND WHEREAS the estimated cost of constructing the above~-noted
Recreational Facilities including expenses incidental thereto is the sum of
$1,910,000.00 including the following estimated costs:

Covered Swimming Pool $ 650,000.00

Social-Recreation Centre $ 400,000.00

Ice Surface $ 779,375.00

Senior Citizens' Centre ; $ 80,625.00

AND WHEREAS it is expected that the Board of School Trustees of School
District No. 43 (Coquitlam) will contribute the sum of $325,000.00 to assist
in the construction of the covered swimming pool pursuant to an agreement to be
made under Subsection 4 of Section 171 of the Public Schools Acts

AND WHEREAS the City has made application for a grant of $333,333.00
from the Community Recreational Facilities Fund established under the Community
Recreational Facilities Fund Act;

AND WHEREAS, having regard to the)contributions from other sources set
forth above it is proposed to borrew upon the credit of the City the sum of
$1,910,000.00 _ being the amount of debt intended to be created by this By-law;

AND WHEREAS the amount of the assessed value for General Municipal
Purposes of the taxable Jand and improvements for the current year and for each
of the two years innediately preceding the current year were:

1971: $44,907,430.00

$50,902,050.09
$55,809,315.00
EAS the depreciated value as at the 3lse day of December, 1972
of the water utility for which the municipality possesses a subsisting

certificate of self-liquidation granted by the Inspector of Municipalities was
$633,526.00; Mate: Avanwaste For
FINAL READING,