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COU

THE CORPORATION OF THE CITY OF PORT JI TLAM
a JUN 2 4 1985

BYLAW NO. 2107

A Bylaw ta authorize the expenditure of monies
in the Tax Sale Lands Reserve Fund,

WHEREAS there is an unappropriated balance Of $1,689,952.52 as at December olst,
1984 In the Tax Sale Lands Reserve Fund consisting of monies recalved trom the
Sadie of tax gale properties Including Interast earned thereon and Set aside In
accordance with the provisions -of Section 380 of the "Municipal Act's which
amount has bean calculated as follows:

Baleice Im Raserve Fund at June 16th, 1984. 727,957.55

Add: Additions to fund slnes June 16th, 1984

Including Interast earned to December
ist, 1984 961,994.97

Balance in Reserve Fund at December Sist, 1985 $ 1,299,952,52

AND WHEREAS no sinking funds have been or wore required to be estabiished;

AND HHEREAS It 18 deemed desirable to expend from the amount SO Set aside the
367,500.00 fo purchase real property;

AND WHEREAS the approval of the Minister of Municipal Affairs has bean ebtalned;

NOW THEREFORE the Municipal Counel! of The Corporation of the Clty of Port
Coquitiam, in open meeting assembled, enacts as tatiows:

te The sum of $67,500.00 Is hereby appropriated trom the Tax Sale Lands
Reserve Fund for the following purchase of roa! property:

Lot 11, Block 24, Olstriet Lots 174 and 289, Group One, $ 67,500.00
Plan 2080, New Wastminster Distriet

Should any of the amount exprapriated remaln uneaxpended after the
sxpenditures hereby authorized have bean made, the unexpended balance
shall be returned to the credit of the sald Tax Sale Lands Reserve Fund.

This Bylaw may te clted for al| purposes as the "Tax Sale Land Reserve
Fund Expenditure Bylaw, 1985, No. 2107",

FIAST THREE READINGS

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