Title
Temporary Borrowing Bylaws
(Facility Capital Works and Transportation Capital Works) and
Municipal Security Issuing Resolution
Bylaw No. 5423
Bylaw No. 5424
Report 18-149
File FIN 1760-30
Recommended Action
That Council give first, second, and third reading to Temporary Borrowing (Facility Capital Works) Bylaw 2018 No. 5423 towards the estimated cost of Facility Capital Works;
That Council give first, second, and third reading to Temporary Borrowing (Transportation Capital Works) Bylaw 2018 No. 5424 towards the estimated cost of Transportation Capital Works;
That Council approve borrowing from the Municipal Finance Authority of British Columbia (MFA), as part of a 2019 bond issue, $7.0 million as authorized through Facility Capital Works Loan Authorization Bylaw 2018 No. 5346;
That Council approve borrowing from the Municipal Finance Authority of British Columbia (MFA), as part of a 2019 bond issue,
$12.95 million as authorized through Transportation Capital Works Loan Authorization Bylaw 2018 No. 5347;
That Metro Vancouver Regional District be requested to consent to our borrowing of $7.0 million as authorized through Facility Capital Works Loan Authorization Bylaw 2018 No. 5346 over a twenty (20) year term and include the borrowing in their security issuing bylaw; and
That Metro Vancouver Regional District be requested to consent to our borrowing of $12.95 million as authorized through Transportation Capital Works Loan Authorization Bylaw 2018 No. 5347 over a
twenty (20) year term and include the borrowing in their security issuing bylaw.
Explanation - Bylaw No. 5423
Bylaw 2018 No. 5423 provides for temporary borrowing pending the issuance of debenture securities to complete Facility Capital Works, in the amount of $7.0 million pursuant to Facility Capital Works Loan Authorization Bylaw 2018 No. 5346.
Explanation - Bylaw No. 5424
Bylaw 2018 No. 5424 provides for temporary borrowing pending the issuance of debenture securities to complet...
Click here for full text