THE CORPORATION OF THE CITY OF PORT COQUIZE

AM |
BYLAW No. 2538 0 1 N C |

A Bylaw to authorize the expenditure of monies AUB 27 1990
in the Tax Sale Lands Reserve Fund. SEP +0 1969

WHEREAS there is an unappropriated balance of $11,123,583.00 as at December
3ist, 1989 in the Tax Sale Lands Reserve Fund consisting of monies received
from the sale of tax sale properties including interest earned thereon and set
aside in accordance with the provisions of Section 380 of the “Municipal Act";

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

AND WHEREAS the following bylaws have been passed to authorize the expenditure
of funds in the following amounts from the said amount in the Tax Sale Lands
Reserve Fund:

Bylaw No. 2375 $610,000.00
Bylaw No. 2460 $350,000.00
Bylaw No. 2465 $154,000.00
Bylaw No. 2489 $300,000.00
Bylaw No. 2496 $390,000.00
Bylaw No. 2497 $2,000,000.00

Bylaw No. 2514 $400,000.00

TOTAL $4,204 000.00

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $290,000.00 to purchase real property;

NOW THEREFORE the Municipal Council of The Corporation of the City of Port
coquitlam, in open meeting assembled, enacts as follows:

1. The sum of $290,000.00 is hereby appropriated from the Tax Sale Lands
Reserve Fund for the following purchase of real property;

Lot "B", District Lot 4, Township 39, Flan 19724, New Westminster
District - (2769 Kitchener Avenue)

The detailed purchase arrangements with respect [to the expenditure
authorized by this bylaw shall be more particularly specified by
resolution of the Council.

Should any of the amount expropriated remain unexpended after the
expenditure hereby authorized has been made, the unexpended balance shall
be returned to the credit of the said Tax Sale Lands Reserve Fund.

This Bylaw may be cited for all purposes as the "Tax Sale Land Reserve
Fund Property Purchase Expenditure Bylaw, 1990, No. 2538".

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