THE CORPORATION OF THE CITY oF PORT CO

BYLAW NO. 2416

A Bylaw to authorize the expenditure of monies
in the Tax Sale Lands Reserve Fund.

WHEREAS there is an unappropriated balance of $3,987,974.76 as at March ist,
1989 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 Act"; which
amount has been calculated as follows:

Balance in Reserve Fund at July llth, 1988 $3,287 ,823.95
Add: Additions to fund since July 1lth, 1988 $1,310,150.81
Less: Committed by Bylaw No. 2375 $ 610,000.00

Balance in Reserve Fund at March Ist, 1989 $3,987,974.76

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $203,828.11 to purchase real property;

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 $203,828.11 ig hereby appropriated from the Tax Sale Lands
Reserve Fund for the following purchases of real property:

(a) Lot 3 and 4, Block C, District Lot 289
Group One, Plan 1954, except parts on plan with
Bylaw filed 6287, New Westminster District
(2382 Mary Hill Road). $ 89,363.17

Lot 1, District Lot 4, Township 39,
Plan 17820, New Westminster District
(2787/89 Kitchener Avenue) $114,464.94

Total $203,828.11

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