“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: