MEMO

B. Kirk DATE: May 04, 1988
Re Freeman
J. Taylor

FROM: J. Maitland,
City Treasurer.

SUBJECT: Proceeds from Land Sale -
2200 Blocks Wilson & Atkins

The proceeds from the above mentioned land sale will be allocated to the
following reserve accounts:

Tax Sale Reserve $434,881.42
Park DCC $137,336.80
Park DCC Interest $ 57,781.78
TOTAL $630,000.00

.

Attached are details of the calculation of the above amounts if
any questions pleaze give me a call.

|. Maitland

JM/ms
Attachment

Counter resalvtien passed fee 22/88

THAT the proceeds for the land sale which were purchased from the Parks
DCC fund be returned to that fund and used for the purchase of land,
proceeds. exceeding the original purchase price will be deemed interest which

uust still be returned to the Parks DCC fund but which may be used to develop
park land.