Being a by-law for providing the sum of $50,000.00 for the following purposes: (a) to acquire by purchase the west half of lot 129 on the south side of McIntyre street west as shown on registered plan no. 10 for the City of North Bay; and [b] to defray the cost of the development of the land as a parking lot a nd the renovation of the building or part thereof for office and workshop accommodation to be under the control and management of the North Bay parking authority