TAMRMS#: B06
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Borrowing Bylaw - North St. Albert Trail Corridor (2nd & 3rd Reading)
Presented by: Diane McMordie, Director, Finance & Assessment Department
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RECOMMENDATION(S)
recommendation
1. That Bylaw 9/2019, being a Borrowing Bylaw to finance the design and construction of the North St. Albert Trail Corridor Management Implementation, be read a second time.
2. That Bylaw 9/2019 be read a third and final time
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PURPOSE OF REPORT
To provide second and third reading of Bylaw 9/2019 to enable the City of St. Albert to obtain debenture borrowing to support the design and construction of the North St. Albert Trail Corridor project in alignment with sections 251 & 254 of the Municipal Government Act (MGA).
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
Strategic Priority #3: Building a Transportation Network: Integrated transportation systems.
3.2 Develop the Intelligent Transportation System (ITS) strategy and recommend phased implementation, inclusive of St. Albert Trail, according to our ability to implement quickly.
3.3 Evaluate the arterials networks in St. Albert and recommend improvements.
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
N/A
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On January 21, 2019 Council passed the following motion:
(BL-18-078)
That Bylaw 9/2019, being a Borrowing Bylaw to finance the design and construction of the North St. Albert Trail Corridor Management Implementation, be read a first time.
BACKGROUND AND DISCUSSION
The North St. Albert Trail Corridor is an important piece of capital infrastructure to urbanize the cross section of a key arterial roadway and improve efficiency and safety for all modes of travel.
The March 9, 2019 advertisement in the St. Albert Gazette started the official 15-day petition period as defined in the MGA, however the original notification to the public on January 26, 2019 as prescribed by Council Policy C-CAO-22 Borrowing Bylaw Advertising has allowed a full 60 days period in which the public was able to start a petition.
The official 15-day petition period ran from March 10, 2019 to March 24, 2019. As of the close of the petition period on March 24, 2019 the Chief Administrative Office had not receive a valid petition and as such Council may consider second and third readings of the Bylaw.
STAKEHOLDER COMMUNICATIONS OR ENGAGEMENT
In alignment with the advertising requirements within the MGA, as well as Council Policy C-CAO-22 Borrowing Bylaw Advertising, notification in the St. Albert Gazette regarding the proposed Bylaw took place on the following dates:
January 26, 2019
March 2, 2019
March 9, 2019
This scheduled series of notification has allowed the public a full 60 days for consideration of a petition.
IMPLICATIONS OF RECOMMENDATION(S)
Financial:
Passing of Bylaw 9/2019 authorizes Administration to secure the required financing through Alberta Capital Finance Authority (ACFA) or another authorized financial institution. Work will begin on this soon to ensure that funds are available to align with the cash flow requirements of the project.
Legal / Risk:
In order to borrow funds, s. 254 of the MGA states that, “No municipality may acquire, remove, or start the construction or improvement of a capital property that is to be financed in whole or in part through a borrowing unless the borrowing bylaw that authorizes the borrowing is passed.”
Program or Service:
If the Borrowing Bylaw is not passed the City will be unable to secure the financing required to support the project. This would then require identification of other funding or the project would need to be cancelled.
Organizational:
None at this time
ALTERNATIVES AND IMPLICATIONS CONSIDERED
If Council does not wish to support the recommendation, the following alternatives could be considered:
Alternative 1. Postpone the project and identify an alternate source of funding.
Alternative 2. Cancel the project.
Report Date: April 1, 2019
Author(s): Diane McMordie
Committee/Department: Finance & Assessment Department
Chief Administrative Officer: Kevin Scoble