THE CORPORATION OF THE CITY OF PORT COQUITLAM ; C; 0 UJ N (:

OCT 23 1979

.

TO: Mayor & Council . DATE: October 24, 1979

FROM: J. Maitland,
City Treasurer.

RE: ORIGINAL RECREATION CENTRE CONSTRUCTION |

When we built the original recreation centre a good portion of
the money was raised locally through the sale of bonds. Final payment
will be made November 1, 1979 on these bonds; those people still holding
these bonds should cash them at that time.

As a matter of interest the total original construction cost .
$325,000 of which $225,000 was raised by a debenture issue and $100,000
was provided from City reserve funds. Bond sales were made as follows:

(a) To local citizens $ 45,000

(b) To local banks 101,500

(c) To local businesses 15,500

(d) Sale by bond déaler 63,000

J. Maitland