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THE CORPORATION OF THE CITY OF PORT

AUG 26 1991
BYLAW NO. 2617

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

WHEREAS there is an unappropriated balance of $8,743,809.74 as at December
3ist, 1990 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 Funds:

Bylaw No. 2465 ~ Dyke Construction $154,000.00

Bylaw No. 2514 ~ Recycling Equipment $400,000.00

Bylaw No. 2539 ~ Coquitlam River Drainage $175,000.00

it Bylaw No. 2543 ~ Lobb Avenue Construction $181,000.00
i Bylaw No. 2552 «+ Trenton Avenue Sanitary

Sewers & Waterworks $450,000.00

Bylaw No. 2560 - Purchase 2568 Pitt River $305,000.00

Bylaw No. 2588 ~ Langan Ave. Construction $1.90 ,130.00

Bylaw No. 2599 - Purchase 1675 Broadway $699 ,000.00

Bylaw No. 2613 —- Purchase 2505 & 2517
Wilson Avenue $418,000.00

TOTAL $2 972,130.00

AND WHEREAS it is deemed desirable to expend from the amount so set aside the
sum of $242,000.00 to purchase real property; |

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

l. The sum of $242,000.00 is hereby appropriated from the Tax Sale Lands

Reserve Fund for the following purchase of real property; |
Lot 2, District Lot 379, Group 1, Plan 17609, New Westminster
District (2535 Wilson Avenue)

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

This Bylew may be cited for all purposes as the "Tax Sale Land Reserve
Fund Property Purchase Expenditure Bylaw, 1991, No. 2617".

FIRST THREE READINGS