THE CURPORATION OF THE CITY OF PORT COQUITLAM

BYLAW NO. 2210

A Bylaw to authorize the expenditure of Mion! in the Tax Sale Lands Reserve Fund. SEP 29 1986

WHEREAS there is an unappropriated balance of $3,012,531.29 as at August 30th, 1986 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'; which amount has been calculated as follows:

Balance in Reserve Fund at December 30th, 1985 $ 1,982,756.75 Add: Additions to fund since December 30th, 1985 $1,029 ,774.54

Balance in Reserve Fund at August 50th, 1986 $ 3,012,5.41.29

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

AND WHEREAS it is deemed desirabie to expend from the amount so set aside the sum of $78,500.00 to purchase property at 2390 Mary Hill Road.

AND WHEREAS the approval of the Minister of Municipal Affairs. has been obtained;

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 $78,500.00 is hereby appropriated from the Tax Sale Lands Reserve Fund for the following purchase of real property:

Lot 1, Block "C", District Lot 289, Group One, Plan 1954, New Westminster District. 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 Bylaw may be cited for all purposes as the "Tax Sale Land Reserve Fund 2390 Mary itil! Road Purchase Expenditure Bylaw, 1986, No. 2210".

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