THE CORPORATION OF THE CITY OF PORT COQUITLAM

BYLAW No. 2560

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

WHEREAS there is an unappropriated balance of $11,123,583.00 as at December 3st, 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";

Reserve Fund:

$610,000.00 $350,000.00 $154,000.00 $300,000.00 $390,000.00 $2 ,000,000.00 $400,000.00 $290,000.90 $175,000.00 $181,000.00 $180,000.00 $450,000.00

$5,480 000.00

AND. WHEREAS it irable to expend from the amount so set aside the sum of $305,000.00 to purchase real property;

NOW THEREFORE the Municipal Council of The Corporation of the City of Port

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Coquitlam, in Open meeting assembled, enacts as follows:

The sum ef $305,000.00 is hereby appropriated from the Tax Sale Lands Reserve Fund for the following purchase of real property;

Lots 3 of Block A District Lot 174 & 289, Plan 9069 New Westminster District

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.

FIRST THREE READINGS