title
Rescind Borrowing Bylaw
Notice given by: Councillor Hughes
label
BUDGET POSTPONED MOTION:
recommendation
That the following motion be rescinded:
BL-21-039 June 21, 2021
That Bylaw 35/2021, being a Borrowing Bylaw to design and construct a Solar Farm, be read a first time.
body
Administration’s Understanding of the Intent of the Motion:
That 1st reading of Borrowing Bylaw 35/2021 is rescinded.
Operational or Organizational Impacts if Motion is Approved:
Should the Solar Farm Project ultimately move ahead, the borrowing bylaw will need to be re-introduced which will involve new advertising in order to be in compliance with the MGA and the Council Policy on Borrowing bylaw timelines
Financial Implications of Motions:
None
Stakeholder Consultations:
After1st reading of this bylaw was passed at the June 21, 2021 Council meeting, the following advertisements appeared in the St. Albert Gazette in compliance with the MGA and Council Policy:
June 30, 2021
August 4, 2021
August 11, 2021
The petition period passed with no petition received.
Background:
With regards to Rescission of previous bylaw readings the MGA section 188 states the following:
188 The previous readings of a proposed bylaw are rescinded if the proposed bylaw
(a) does not receive third reading within 2 years after first reading, or
(b) is defeated on second or third reading
On August 30, 2021 Council passed the following motion
BL-21-072
That second reading of Bylaw 35/2021 to design and construct a Solar Farm be postponed to a date determined at the discretion of administration in Phase 3.
If the motion is carried, and Council ultimately decides to move ahead with the project, the borrowing bylaw will need to be reintroduced as a new bylaw and be subject to all required advertising requirements and petition periods.
If the motion is defeated, 1st reading of the bylaw will remain in force and Council will have until June 21, 2023 to consider second and third reading. The City will only be able to access debt financing when there is an approved budget and an approved borrowing bylaw.
body
Report Date: December 2, 2021
Author: Diane McMordie, Director/CFO
Department: Financial Services and Information Technology
Deputy Chief Administrative Officer: Kerry Hilts
Chief Administrative Officer: Kevin Scoble