BYLAW NO. 2246

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

WHEREAS there Is an unappropriated balance of $3,285,686.38 as at December SJist,
1986 in the Tax Sale Lands Reserve Fund consisting of monies received from the
sale of tax sale properties inciuding Interest earned thereon and set aside In
accordance with the provisions of Section 380 of the "Municipal Act's: which
amount has been calculated as foliowss

Balance In Reserve Fund at December 30th, 1985 $ 1,982,756.75
Add: Net Additions to fund since December 30th, 1985 $ 1,302,929.63

Balance In Reserve Fund at December 3ist, 1986 $ 3,285,686 .38

AND WHEREAS no sinking funds have been or were required to be establ ished;

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AND WHEREAS it !s deemed desirable to expend from the amount so set aside the sum
of $700,000.00 to construct an addition to the Port Coquitiam Senior Citizens

Centre located at 2150 Wilson Avenue, Port Coquitlam, B.C.;

AND WHEREAS the approval of the Minister of Municipal Affairs has been obtained;

NOW THEREFORE the Municipal Gounci! of The Corporation of the City of Port
Coquitlam, in open meeting assembled, enacts as follows: .

i. (a) The sum of $700,000.00 is hereby appropriated from the Tax Sale
Lands Reserve Fund to construct an addition to the Port Coquitiam Sentor
Citizens Centre located at 2150 Wiison Avenue, Port Coquitlam, B.C.;

The Municipa! Counci| Js hereby empowered and authorized to undertake,
carry out, or cause to be carried out, the construction of the said
addition generally in accord with The plans and specifications that have
been placed on file In the office of the City Clerk and to more
particularly specify and authorize by resolution all things necessary In

connection therewith.

Should any of the amount expropriated remaln unexpended after the

expenditures hereby authorized have been made, the unexpended balance
shal! be returned to the credit of the seid Tax Saie Lands Reserve Fund.