TAMRMS#: B06
10.1
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Bylaw 19/2022 - to amend Guarantee Bylaw 39/2021 - Edmonton Metropolitan Transit Services Commission (2nd & 3rd reading)
Presented by: Trevor Duley
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RECOMMENDED COUNCIL MOTIONS
recommendation
1. That Bylaw 19/2022, to amend Bylaw 39/2021 the Edmonton Metropolitan Transit Services Commission Loan Guarantee Bylaw, be read a second time.
2. That Bylaw 19/2022 be read a third time.
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PURPOSE OF REPORT
The purpose of this report is to recommend second and third readings of Bylaw 19/2022 to amend Bylaw 39/2021, to increase the loan guarantee amount of the Edmonton Metropolitan Region Transit Services Commission (EMTSC), which together with the City of Edmonton's increase to Edmonton's loan guarantee amount, would allow the EMTSC to raise its borrowing capacity.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
In the 2019-21 Corporate Business Plan
Strategic Priority #3: Building a Transportation Network: Integrated transportation systems.
Continue to pursue an Integrated Regional Transit Commission through the transition phase
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
N/A
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
On April 19, 2022, Council passed the following motion:
That Bylaw 19/2022, to amend Bylaw 39/2021 the Edmonton Metropolitan Transit Services Commission Loan Guarantee Bylaw, be read a first time.
BACKGROUND AND DISCUSSION
Passing of Bylaw 19/2022 will support the EMTSC in enhancing a line of credit which will support their continued operations during the transition period until such time as transit services and the associated revenue and assets are transferred to the Commission. See the attached previously distributed materials for further information.
STAKEHOLDER COMMUNICATIONS OR ENGAGEMENT
As per requirements of the Municipal Government Act, the proposed bylaw was advertised in the St. Albert Gazette on April 27, 2022 and May 4, 2022. No petition was received during the pe...
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