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TUE CORPORATION oF ‘tue cry or eeher cba 5g N C

BY-LAW NO. 1457 AUG - 3 1976

A By-law to authorize the expenditure of monies in the Tax Sale

Lands Reserve Fund,

WHEREAS there is an unappropriated balance of $310,372.00 as at.

SOE reat my tarccia

Auguet 3rd, 1976 (date of third reading of this By-law) in the Tax Sale

SERS Sop

Lands Reserve Fund consisting of monies received from the sale of tax

sale properties including interest earned thereon and set aside in

MET

accordance with the provisions of Section 304 of the "Municipal Act",

which amount has been calculated as follows: - .

Balance in Reserve Fund at December 31, 1975. $377,557.35
Add: Additions toe fund including. interest earnings

" . for enurrent year to date 69,716.70

447,274.05

Deduct: Total of expenditure By~laws for current year
. to date . . 136,902.05

ar rnnnrmresrmamrmenennen

Balance in réserve fund at August 3, 1976 (date on
of third reading of this By-law) $310,372.00

AND WHEREAS no sinking funda have been or were required to he

established; :
AND WHEREAS it is deemed desirable to expend the sum of Thirty-five

Thousand ($35,000.00) Dollars from the amount so set aside for the

purpose of purchasing furnishings and equipment for a relocated Public

Library facility in the City; ° _ .
AND WHEREAS the approval of the Minister of Municipal Affairs has

been obtained.

NOW THEREFORE the Municipal Council of The Corporation of the City
of Port Coquitlam, in open meeting assembled, enacts as follows:

1, The sum of Thirty-five Thousand ($35,000.00) Dollars is hereby

appropriated from the Tax Sale Lands Reserve Fund for the purpose of

purchasing furnishings and equipment for a relocated Public Library

facility in the City.

2. The expenditure to be carried out by the monies hereby appropriated

shall be more particularly specified and suthorized by resolution of the

Council.

Mere:
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