INTER OFFICE MEMO

Mayor and Aldermen DATE: December 5th, 1974"

R. A. Freeman, City Clerk CoCo (* (\ | ‘Al
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DEC - 9 1974 |

Re: Proposed Land Exchange - Pooley-Taylor Area

Pursuant to Council's instructions issued on November 25th, 1974, we

.

issued a Public Notice advising that it was the City's intention to sell a
certain parcel of land to Gavel Development Ltd. and alternate bids or
proposals were invited. At the closing time stated -in the Public Notice
(12:00 o'clock noon, Thursday, December 5th, 1974) no further proposals had
been received, Tf Council now wish to proceed with the sale we would suggest
‘that consideration be given to the following resolution:

"That Lot 115, District Lots 255 & 384, Group One, Plan 47284, New

Westminster District, be sold to Gavel Development Ltd., Suite 516 "355

Burrard Street, Vancouver, B. C., at or for the sum of $14,000.00, to be

paid by way of an Agreement for Sale extending over a maximum period of

five years with interest payable at the rate now charged by Central

os
to

SS

18

Mortgage & Housing Corporation for first mortgages; .

CANS

SUBJECT to the said Gavel Development Ltd. conveying Lot 6 and Lot g
of the South-east Quarter of the South-west Quarter of Section 7, Township

40, Plan 1329, to The Corporation of the City of Port Coquitlam for the

sum of $1.00; Ls ms
AND THAT His Worship the Mayor and City Clerk be authorized to execute

the necessary documents to achieve the purposes aforesaid and te affix the

Corporate Seal thereto."

City Clerk