April 14th, 1980.

Officials, Association, and homeuwners directly affected.

Alderman Keryluk stated in his cpinion the mortgage companies
should not be singled out to solve the problem of high interest rates,
but that the Bank of Canada should be approached. Alderman Wright
stated the Municipal level of government should not be involved in this
subject as it was outside its field of responsibility. Alderman Ranger
stated in his opinion the City should reduce taxes as much as possible
to help people with the increased Ihovcgage rates. Alderman Mabbett spoke
in support of helping peeple ir need with some help and Alderman Gates
favoured supperting the Assoc.ation's requests. Alderman Keryluk stated
that the dramatic increase ‘n Mortgage rates during a very short period
of time undoubtedly had cased a good deal of distress to Many persons,

Moved by Alderman Traboulay:

Seconded by Alderman Gates:

That the City of Port Coquitlam invite a member of the Association
to Control Mortgage Rates to infoim Council of their objectives;

AND THAT Council Support the Association in bringing the
Honourable Paul Cosgrove to the Lower Mainland to meet with the
Councils, Officials, Association and homeowners directly affected by

the increased mortguge rates.

Carried.
Alderman Wright voted against the resolution.

REPORTS:

‘Fin. Comm. , From the Finance Committee, April Ist, 1980 and April 8th, 1980

Apr. 1 & 8/80
.re Stmt. of being a Statement of Accounts Payable in the amount of $114,395.52 and

‘Accts. Payable.

$218,050.39, respectively.

Moved by Alderman Wright:

Seconded by Alderman Keryluk:

That the report of the Finenee Committee, April lst, 1980 and April

8th, 1980 Leing a Statement of Accounts Payable in the amount of $114,395.52

and $218,050.39, respectively, be approved.

Carried.

Alderman P.F, Ranger, April 10th, 1980 requesting that the City of

Port Coquitlam petition the Provinctal Highways Minister, the Honourable
Alex Fraser, to investigate the cause of the delay in approving rezoning

requests, for example By-law No. 1734, to his department.