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Borrowing Bylaw 24/2017
Presented by: Chris Belke, Chief Legislative Officer
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RECOMMENDATION(S)
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1. That Bylaw 24/2017, being a Borrowing Bylaw to finance the Construction of the Branch Library, as amended, be read a second time.
2. That Bylaw 24/2017, be read a third and final time.
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PURPOSE OF REPORT
This report presents Bylaw 24/2017 for second and third readings.
COUNCIL DIRECTION
On April 18, 2017, Council passed the following motion:
That Bylaw 24/2017 be amended to change the amount of the borrowing from 25 million dollars to 21.9 million dollars.
On April 3, 2017, Council passed the following motion:
That Bylaw 24/2017, Being a Borrowing Bylaw to finance the Construction of the Branch Library, be read a first time.
BACKGROUND AND DISCUSSION
Bylaw 24/2017 received first reading on April 3, 2017, and was amended on April 18, 2017 to reduce the maximum amount of the borrowing that would be authorized by the Bylaw.
On May 23, 2017 a petition from electors of the City was submitted requesting "the Council of the City St. Albert to hold a public vote on Borrowing Bylaw 24/2017 being a Borrowing Bylaw authorizing the borrowing of not more than Twenty One Million Nine Hundred Thousand Dollars ($21,900,000.00) to finance the Construction of the Branch Library". Until it was determined whether the petition was sufficient, Council could not proceed with consideration of second and third readings of the Borrowing Bylaw.
On June 12, 2017, the Chief Legislative Officer reported to Council that the petition received on May 23, 2017 was not sufficient. As per section 226(3) of the Municipal Government Act (MGA), "If a petition is not sufficient, the council or the Minister is not required to take any notice of it." Therefore, Council may now consider second and third readings of Bylaw 24/2017.
STAKEHOLDER COMMUNICATIONS OR ENGAGEMENT
Following first reading of Bylaw 24/2017 on April 3, 2017 and amendment of the B...
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