THE CORPORATION OF THE CITY OF PORT COQUITLAM

BYLAW No. 2465

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

WHEREAS there is an unappropriated balance of $4,916,309.37 as at November
20th, 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 December 31st, 1988 .... $4,394,146.65
Add: Additions to fund since December 3lst, 1988 $ 872,162.72
Balance in Reserve Fund at October 25th, 1989 ..... $5,266,309.37
Less: Committed by Bylaw 2460 .c.ccsvecssecesveeee $ 350,000.00

$4916 309.37

AND WHEREAS no sinking funds have been or were required to be established;

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $154,000.00 to share in the costs of dyke construction along the
Coquitlam River in the City.

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 $154,000.00 is hereby appropriated from the Tax Sale Lands
Reserve Fund to share in the costs of dyke construction along the
Coquitlam River in the City.

The Municipal Council is hereby empowered and authorized to
undertake, carry out, or cause to be carried out, the construction of
the said dykes generally in accord with the plans and specifications
that have been placed on file in the office of the City Clerk and to
more particularly specify and authorize by resolution all things
necessary in connection therewith.

Should any of the amount expropriated remain unexpended after the
expenditures hereby authorized have been made, the unexpended balance
shall be returned to the credit of the said Tax Sale Lands Reserve Fund.

This Bylaw may be cited for all purposes as the "Tax Sale Land Reserve
Fund Dyke Construction Bylaw, 1989, No. 2465".

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