THE CORPORATION OF THE CITY OF PORT COQUITLAM C O U Ny C L

TO: Mayor & Council DATE: October 22, 1980 OCT 2 7 1980

FROM: Finance Committee

Report of the Finance Committee méeting held Tuesday,
October 21, 1980. ;

In attendance: Mayor Laking
Alderman Keryluk
Aiderman . Wright
City Administrator Pollock
City Treasurer Maitland

ITEM I

The Committee recomends that the maximum fines in our by-laws
be increased from $500 to $2,000 as allowed under the new
Summary Conviction Act. (see attached memo from the By~Law

Officer).

ITEM II .

The Committee recomends the attached business licence fee .
schedule for 1981. The increase is approximately 10% and the
only other changes suggested are: . ‘

(1) An increase in the deposit required from Christmas tree
Stand operators from $100 to $200.

(2) An increase in the maximum licence fee under part II
from $500 to $600.

ITEM IIl

The Committee recomends rate increases for 1981 of $3 per year
($.25 per month) on both water and sewer rates. (see Treasurers
memo attached).

The Committee did consider closing the gap between subdivider
installed and City installed sewer rates but as the debt charges
on the City installed remain constant through to 1989 felt the
differential in the rates is stiil justified. |

ITEM IV

The Committee recomends that the interest rate paid by the City
on prepayment of taxes be reduced from bank prime rate to bank
prime rate less 2%. (see Treasurers memo).

If Council agrees to the above items, the City Clerk will prepare
the necessary by~laws.