TAMRMS#: B06
11.1
REQUEST FOR DECISION
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Bylaw 13/2026 - NE Borrowing Bylaw (2nd and 3rd Reading)
Presented by: Stanley Chan, Manager of Financial Operations and Reporting, Financial & Strategic Services Department
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RECOMMENDED MOTION(S)
recommendation
1. That Bylaw 13/2026, being a Borrowing Bylaw for Northeast Servicing, be read a second time.
2. That Bylaw 13/2026, be read a third and final time.
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SUMMARY
The purpose of this report is to bring forward an item from the May 5, 2026, Regular Meeting of Council. This Bylaw received 1st reading on May 5, 2026, and is being brought forward for 2nd and 3rd reading.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On May 5, 2026, Council passed the following motions:
BL-24-026
That Bylaw 13/2026, being a borrowing bylaw for Northeast Servicing Bylaw, be read a first time.
BACKGROUND AND DISCUSSION
Please refer to the Agenda Report previously distributed on May 5, 2026. The Northeast Servicing Bylaw is in attachment titled "BL 13-2026 Northeast Servicing Borrowing Bylaw".
STAKEHOLDER COMMUNICATIONS OR ENGAGEMENT
The borrowing bylaw was advertised in accordance with provisions detailed in the Municipal Government Act (MGA) as well as Council Policy C-CAO-22 Borrowing Bylaw Advertising.
IMPACTS OF RECOMMENDATION(S)
Please refer to the Agenda Report previously distributed on May 5, 2026.
Financial:
The City will be looking to borrow the funds from the Alberta Treasury Board up to a 20-year term. The actual interest rate will be based on current posted rates at the time of borrowing and advancement of funds and the term will also be selected at that time.
The City is responsible for 100% of the project of which 93% of the cost is offsite leviable and 7% is non-offsite leviable. The debt servicing of the offsite leviable portion will be funded from the off-site levy recovery fund and the non-offsite leviable portion will be funded from taxes. Based on the assumption...
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