“Nay 2eh, 1973, of

behind the = apartment on MoALL ster Avene, and proposed, the e folloving a notion: aan

Moved by 2 Alderman: Mabbett:

Seconded by Alderman Thompson:

That. the Fire Chief. and Building Ingpector make an : Inspection of ‘the “old

. Rout ley. house" ont Nay Bilt Road behind the apartment ullding on MeALLister Avenue |

ith a. view to denotttn, “Garried,

. *: aos oy Ee City Treas.

rc 3: 05 Pems the City Treasurer arrived at the ‘neeting 3 and His Worship the arrives at
9:05 P-m..&

Ald. Ranger’ s

Fiscal Pol=

icy report

is again Pre
“sented -

_ Mayor requested that Alderman Ranger “speak to his ‘report dated “May 3rd, 973. con-
“cerning Fi Fiscal Policy. Alderman Ranger inquired of the: City treasurer what the
surplus or ‘deficit increase was during the years 1967 ‘through: 1972 and the city
- Treasurer Provided that information, Alderman Ranger inquired of the , Treasurer: if
he used’ a percentage: guide ‘line to’ determine ‘a desirable amount of book surplus,
and the City Treasurer advised that he’ did Rot, “nor. did he. think any munieipalitie
were on a strict Percentage basis. ‘Alderman Thompson inquired if there is. “any bud- . ;
geted sur plus in this budget, and the city Treasurer advised that there was not.
Alderman Thompson stated he understood the Cit ty’ s surplus: funds are. not held "i

trust", but. dn ‘Feserve, and inquired. that aE the > budget proposed excluded the money
proposed | to be brought into this year! 8 s budget trom surplas would ‘the reserve at
‘the end of 1973 be $450, 000. 00, and | the > City Treasurer advised this was” correct :-

ncluding both the ' "hook. surplus" and the formal “reserves” 7 Mayor | Scott advised
that homeowners" taxes would be raised by approxinately 3: 28 mills on an 1 average
; assessment of $9, 000.00 which would produce: a tax increase of approxinately $48. co
which would be ($33, 00 after deducting the additional $15. 00 Homeowners" ‘Grant.
| Mayor Scott stated he felt Alderman Ranger" Ss: report was ‘a. very. good one, but that
there does « come a s poirt when the Treasurer 8 work ends and the work of the elected
officials ends, | and ha stated ‘that in his ‘opinion ‘the. mill rate as s proposed 1 was
: already very high and “oxpressed his. ‘concern n about people on on’ ‘fdxed incones and older
people; and, further, he stated he could aot: ; support the suggestion that the mill
rate be further raised to protect. the city’ s book surplus. “Alderman abbott re-
ferred to the possibilit ty. of collecting taxes on a 2 monthly basis and the cit ty
Administrator advised he would submit a : Feport on | that aspect. . -
Alderman Laking introduced a By-le aw. to ‘amend the Annual, Budget for The

Corporation of the City of “Port (Coquitlam § for the: "year 1972,

foved by Alderman aking: OT oe ae oo oe _— : An. Budget

CE Eg ORE ean Ree ne “Amend. B/law
Seconded _by_ Alderman. p Thonpson: Bae UE Bue $124 5-1 3.

Pee readings.
‘That By-law No. 1265 be read a | first time. ;

Moved by Alderman Mabbete

Seanded by Alderman Ranger: