Harch 19, 1990/0721

AND WHEREAS the adjustment date and possession date were stated to be April 20th, 1990, or earlier;

AND WHEREAS the purchaser has requested that the adjustment and possession Gate be extended until no later than May 31st, 1990;

NOW THEREFORE BE IT RESOLVED that the adjustment and possession date of April 20th, 1990 be changed to May 3lst, 1990, or earlier;

SUBJECT to the payment by the purchaser on April 20th, 1990 to the Trust Account of MacKenzie & Murdy, Barristers and Solicitors, of interest in the amount of 15.25% per annum on the said amount of $148,935.00 and on the amount of $50,256.00 being the payment stipulated in Road Exchange Bylaw No. 2481, from April 20th, 1990 until May 31st, 1990;

AND THAT MacKenzie & Murdy be and they are hereby tastructed to pay the earned portion of the said interest to the City upon completion of the transaction or May 31st, 1990, whichever first occurs, and return any balance;

UNLESS the sale, on May 31st, 1990 has not been completed due to the fault of the City in which case the said payment shail be returned to the purchaser.

Carried. Alderman Keryluk voted against the resolution From the City Clerk, March 13th, 1990 regarding Business Licence

Inspection Form.

Moved by Alderman Farnworth: Seconded by Alderman Gates:

That the City Clerk be instructed to prepare the necessary amending Bylaw in order that the inspection form included in this weeks Council Agenda may become part of the Business Licence Bylaw and its completion required with every application fur a Business Licence.

Carried.

LATE ITEMS:

Moved by Alderman Laking: Seconded by Alderman Farnworth:

That “Port Coquitlam Zoning Bylaw, 1987, No. 2240, Amendment Bylaw, 2467" be reconsidered, finally passed and adopted.

Carried.

BUDGET DISCUSSIONS:

Council discussed the 1990 Civic Budget.