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THE CORPORATION OF THE CITY OF PORT COQUITLAM

TO BR. Kirk, September 28th, 1989 City Administrator

FROM: R.Ae Freeman, City Clerk/Deputy City Administrator

SUBJECT: Sale of City Property - 1530 Kingsway Avenue.

RESOLUTION:

“WHEREAS the lands hereinafter described are not required for nunicipal purposes nor are they reserved or decicated;

NOW THEREFORE be it resolved that:

1. Parcel "54", District Let 288, Group One, Reference Plan 64191, New Westminster District, Port Coquitlam, B.C., be sold to Terra West Contractors Ltd., 2288A Elgin Avenue, Port Coquitlam, B.C., V3C 22, or its nominee, at or for the price or sum of $151,200.00 upon the terms and conditions stated in the tender call and the tender received 3

The Adjustment date be November 7th, 1989 or earlier, as stated in the tender call;

The Possession date be November 7th, 1989 or earlier, aa stated in the tender call:

The Mayor and Clerk are authorized to execute the documenta necessary for the purpose aforesaid and to affix the Corporate Seal of the City thereto.”

BACKGROUND AND COMMENTS:

When the time for receipt of tenders for the above noted property closed at 12:00 noon on Thursday, September 28th, 1989 only one other tender (in the amount of $145,101.00) had been received. The upset price for the property set by Council on September lith, 1989 was $145,000.00. A copy of the tender that would be accepted by the resolution stated above follows and Council's attention is drawn to the condition stated regarding read construction. A similiar condition was also contained in the other tender received.

vened LOEGAELZ R.A. Freeman City Clerk/

RAF/ar Deputy City Administrator

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